One week after for-profit hospital shares surged in light of the federal government's reopening, the gains mostly washed away.
Five of the six major hospital operators saw their shares drop last week. Dallas-based Tenet Healthcare Corp. lost the most, almost 4 percent, as its shares dropped below $46.
Brentwood, Tenn.-based LifePoint Hospitals was the sole hospital company to see shares rise, thanks mostly to a positive quarterly earnings report. On Friday, LifePoint officials said profit jumped 71 percent in the third quarter to $32.8 million. Adjusted EBITDA and revenue also increased 25.1 percent and 9.7 percent, respectively.
Here are the five-day stock prices and percentage changes for the week of Oct. 21 through Oct. 25.
• Community Health Systems (Franklin, Tenn.): $42.64 per share (down 3.35 percent)
• Health Management Associates (Naples, Fla.): $12.88 per share (down 0.85 percent)
• Hospital Corporation of America (Nashville, Tenn.): $46.92 per share (down 3.34 percent)
• LifePoint Hospitals (Brentwood, Tenn.): $49.92 per share (up 1.94 percent)
• Tenet Healthcare Corp. (Dallas): $45.93 per share (down 3.89 percent)
• Universal Health Services (King of Prussia, Pa.): $79.75 per share (down 0.76 percent)
More Articles on For-Profit Hospitals:
Moody's: 5 Key For-Profit Hospital Consolidation Trends
IASIS Issues Dividend to Shareholders Following Transactions
HCA: Q3 Profits, Admissions Looking Positive