On September 15, Hca Healthcare Inc fell 3.1% in regular trading, trading near $412.99 per share, with turnover of approximately $22.27 million, leading declines among peers in the Health Care Facilities sector.
On the news front, the company's CEO recently stated that full-year guidance for the remainder of the year does not incorporate any assumptions for a surgical volume recovery, adopting a conservative forecasting approach. RBC Capital Markets noted that Q3 faces a more difficult year-over-year comparison base and lowered its Q3 EBITDA estimate to $3.635 billion from $3.859 billion, while raising Q4 estimates to $4.284 billion on easier comparisons and greater resiliency benefits from recently confirmed layoffs across corporate and support functions.
Additionally, the company had previously lowered its full-year earnings guidance after absorbing an approximately $400 million pre-tax profit impact from rising uninsured patient volumes, with adjusted EBITDA expectations reduced to $15.4 billion to $16.1 billion. Management attributed roughly 80% of the uninsured patient increase to Health Insurance Exchange disenrollment and 20% to slowing Medicaid expansion.
Broader sector weakness was also evident, with Tenet Healthcare down 2.12%, Universal Health down 2.40%, and US Physical Therapy down 1.45%.
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