One week after hospital stocks skyrocketed, many fell back down due in part to ominous previews of second-quarter earnings.
Franklin, Tenn.-based Community Health Systems was the biggest loser last week, as its shares plummeted almost 10 percent. On Thursday, CHS executives said they are predicting dismal profit and revenue figures for the second quarter due to a new subpoena from the Department of Justice, lagging volumes and a deteriorating payer mix.
Health Management Associates, based in Naples, Fla., also had a down week with its stocks dropping more than 7 percent. Health Management continues to battle its largest shareholder, New York City-based hedge fund Glenview Capital Management, and Fitch Ratings recently put the hospital chain's credit ratings on "rating watch negative."
Here are the five-day stock prices and percentage changes for the week of July 15 through July 19.
• Community Health Systems (Franklin, Tenn.): $43.16 per share (down 9.78 percent)
• Health Management Associates (Naples, Fla.): $15.65 per share (down 7.07 percent)
• Hospital Corp. of America (Nashville, Tenn.): $38.63 per share (up 2.68 percent)
• LifePoint Hospitals (Brentwood, Tenn.): $49.74 per share (down 3.55 percent)
• Tenet Healthcare Corp. (Dallas): $42.65 per share (down 2.65 percent)
• Universal Health Services (King of Prussia, Pa.): $67.45 per share (down 0.55 percent)
• Vanguard Health Systems (Nashville, Tenn.): $20.91 per share (up 0.48 percent)
More Articles on For-Profit Hospitals:
Fitch: HMA is in Troubled Waters
CHS: Q2 Profit Hurt by DOJ Subpoena, Deteriorating Volumes
HCA Expects 15% Jump in Q2 Profit