JPM says US hospital operators to beat Q2 expectations

Tenet Healthcare

15/07/2025 13:35

** J.P.Morgan says HCA HCA.N, Tenet THC.N, Ardent Health ARDT.N and UHS UHS.N to beat Q2 expectations despite likely policy changes

** JPM expects favorable volume trends due to higher utilization in Affordable Care Act exchanges and Medicaid on better reimbursement rates, stable supply and labor costs

** Says Medicaid program funding pressure post-One Big Beautiful Bill Act to dent earnings but size, timing uncertain

** Expects Medicaid enrollment to drop by ~5.9 mln by 2034 in 26 states where the companies operate

** This year through last close, ARDT down ~15%; but HCA has gained ~27%, THC 41%, while UHS is up 2.3%

 (Reporting by Siddhi Mahatole)

 ((siddhi.mahatole@thomsonreuters.com))