Hospital stocks sink after HCA's earnings stumble

Ayla Ellison -

Major for-profit hospital operators saw their share prices fall Tuesday after Nashville, Tenn.-based HCA Healthcare released its earnings for the second quarter, which fell below analysts' estimates, according to Bloomberg.

HCA's revenues increased 4 percent year over year to $10.73 billion in the second quarter of 2017, which fell below analysts' estimate of $10.85 billion. The company ended the second quarter of this year with net income of $657 million, which was down slightly from $658 million in the same period of 2016.

After releasing its earnings, HCA shares fell 2.5 percent to $83.93. Dallas-based Tenet Healthcare shares dropped 7.3 percent to $19.57 and Franklin, Tenn.-based Community Health Systems shares fell 7.4 percent to $8.96, according to Bloomberg.

More articles on healthcare finance:

Adventist Health closes Washington hospital
Financial concerns prompt Johns Hopkins-owned hospital to eliminate staff through buyouts
Wyoming hospital at risk of losing Medicare, Medicaid funding

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.