Tenet, HCA drag hospital stocks to 52-week lows after Q3 earnings
Oct. 21, 2022 11:30 AM ETHCA Healthcare, Inc. (HCA)THC, CYH, UHS, SEM, ACHC, SGRYBy: Dulan Lokuwithana, SA News Editor2 Comments
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- The shares of healthcare providers are in freefall on Friday, with many reaching 52-week lows after leading hospital chains Tenet Healthcare (THC) and HCA Healthcare (NYSE:HCA) disappointed Wall Street with their earnings for Q3 2022.
- Reaching a 52-week low, Tenet Healthcare (THC) has led the selloff after reporting lower-than-expected EBITDA for the quarter on Thursday after the closing bell.
- HCA (HCA) brought more pain to the industry in the pre-market on Friday with its disappointing Q3 2022 performance, which management attributed to tough prior year comparisons and Hurricane Ian that impacted Florida in September.
- Surgery Partners (SGRY), Select Medical Holdings (SEM), Universal Health Services (UHS), and Community Health Systems (CYH) have also reached 52-week lows. HCA Healthcare (HCA) and Acadia Healthcare (ACHC) are also on the decline.
- See how the above peers are stacked up against each other in terms of financial measures, shareholder returns, and ratings.