All five major for-profit hospital operators saw their stock prices fall last week.
Down 31.40 percent last week, shares of Franklin, Tenn.-based Community Health Systems fell more than any other major for-profit hospital operator.
The for-profit hospital operators saw their stock prices fall the same week CHS estimated weaker-than-expected results for the third quarter, according to Reuters.
CHS expects to report third-quarter income from continuing operations of $121 million on $4.84 billion in revenue, compared to $133 million from continuing operations on $4.78 billion in revenue for the same period in 2014. The system said its third quarter profits were dragged down by adverse payer mix and lower volume. CHS is scheduled to report full results on Nov. 2.
This month, Nashville, Tenn.-based Hospital Corporation of America also estimated weaker-than-expected results for the third quarter. HCA's weaker results in the third quarter stemmed from tightened operating margins due to higher labor costs and an increase in uninsured admissions, according to the operator.
Here is how the five operators' stock prices stacked up last week.
- Community Health Systems (Franklin, Tenn.): $28.82 per share (down 31.40 percent).
- Hospital Corporation of America (Nashville, Tenn.): $68.00 per share (down 6.79 percent).
- LifePoint Health (Brentwood, Tenn.): $64.16 per share (down 10.70 percent).
- Tenet Healthcare Corp. (Dallas): $30.06 per share (down 16.20 percent).
- Universal Health Services (King of Prussia, Pa.): $115.95 per share (down 9.75 percent).
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