After several weeks of weak or nonexistent stock value growth, for-profit hospital companies came back with a charge last week, recording some of the biggest gains seen all year.
Shares at each of the seven major for-profit hospital operators grew by at least 3 percent last week, which was one day short due to Memorial Day. Health Management saw its shares rise the most — almost 25 percent — after it approved a shareholder rights plan to protect itself from any potential takeover from New York City-based hedge fund Glenview Capital Management. However, Glenview executives have said they have no intention of taking over the Naples, Fla.-based operator. Health Management also announced its CEO, Gary Newsome, will retire effective July 31.
Shares of CHS skyrocketed 11.4 percent last week, second-highest of the hospital companies, while Vanguard finally snipped its string of losses with a gain of 8.73 percent.
Here are the five-day stock prices and percentage changes for the week of May 28 through May 31.
• Community Health Systems (Franklin, Tenn.): $48.17 per share (up 11.40 percent)
• Health Management Associates (Naples, Fla.): $13.79 per share (up 24.91 percent)
• Hospital Corporation of America (Nashville, Tenn.): $39.06 per share (up 4.08 percent)
• LifePoint Hospitals (Brentwood, Tenn.): $49.73 per share (up 3.37 percent)
• Tenet Healthcare (Dallas): $47.37 per share (up 5.52 percent)
• Universal Health Services (King of Prussia, Pa.): $69.14 per share (up 3.61 percent)
• Vanguard Health Systems (Nashville, Tenn.): $13.32 per share (up 8.73 percent)
Shares at each of the seven major for-profit hospital operators grew by at least 3 percent last week, which was one day short due to Memorial Day. Health Management saw its shares rise the most — almost 25 percent — after it approved a shareholder rights plan to protect itself from any potential takeover from New York City-based hedge fund Glenview Capital Management. However, Glenview executives have said they have no intention of taking over the Naples, Fla.-based operator. Health Management also announced its CEO, Gary Newsome, will retire effective July 31.
Shares of CHS skyrocketed 11.4 percent last week, second-highest of the hospital companies, while Vanguard finally snipped its string of losses with a gain of 8.73 percent.
Here are the five-day stock prices and percentage changes for the week of May 28 through May 31.
• Community Health Systems (Franklin, Tenn.): $48.17 per share (up 11.40 percent)
• Health Management Associates (Naples, Fla.): $13.79 per share (up 24.91 percent)
• Hospital Corporation of America (Nashville, Tenn.): $39.06 per share (up 4.08 percent)
• LifePoint Hospitals (Brentwood, Tenn.): $49.73 per share (up 3.37 percent)
• Tenet Healthcare (Dallas): $47.37 per share (up 5.52 percent)
• Universal Health Services (King of Prussia, Pa.): $69.14 per share (up 3.61 percent)
• Vanguard Health Systems (Nashville, Tenn.): $13.32 per share (up 8.73 percent)
More Articles on For-Profit Hospitals:
For-Profit Hospital Stock Report: Week of May 20-24, 2013
CHS Shareholders Ratify Executive Pay for 2012
Poor Q1 Financials at For-Profit Hospitals an Anomaly, Analyst Says