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
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
