HCA Healthcare slips after maintaining annual forecast

Tenet Healthcare

26/04/2024 15:22

** Shares of hospital operator HCA Healthcare  HCA.N  fall
3.7% to $302.04 
    ** HCA beat Q1 profit and revenue estimates, but left its
annual forecast unchanged
    ** At least two analysts say unchanged outlook may
disappoint investors after the firm reported
better-than-expected results
    ** "The company merely maintained its guidance for the full
year, which may disappoint investors that have been bidding up
shares since late 2023 as a way of riding the surging medical
utilization wave" - Morningstar analyst Julie Utterback
    ** HCA reports Q1 adjusted profit of $5.36 per share,
beating estimate of $5.01 per share - LSEG data
    ** Posts quarterly revenue of $17.34 bln, above estimate of
$16.78 bln
    ** Including session moves, stock is up 11.4% YTD
    ** Shares of other hospital operators also down; Tenet
Healthcare's  THC.N  stock falls 4% to $93.57 and Universal
Health Services  UHS.N  drops 1.8% to $162.08

 (Reporting by Sneha S K in Bengaluru)
 ((Sneha.SK@thomsonreuters.com;))