US hospital operators decline as Trump wins presidential election

Tenet Healthcare

06/11/2024 15:09

** Shares of U.S.-based hospital operators decline between
5% and 8% in early trading on Wednesday after Donald Trump wins
second term at the White House 
    ** Tenet  THC.N  falls about 8%, Community Health systems
 CYH.N  falls 7%, Universal Health Services  UHS.N  down 6% and
HCA Healthcare  HCA.N  down 5.3%
    ** A Trump win is a "slight negative" for hospital operators
said Jeff Jonas, portfolio manager at Gabelli Funds
    ** Jonas said Trump is expected to be "less generous" with
Obamacare subsidies that help reduce cost of premiums for people
and will be stricter on the Medicaid insurance programs for the
poor 
    ** "You could see an increase in the uninsured or the bad
debt and charity care that hospitals have to provide," said
Jonas 
    ** As of last close, THC shares have more than doubled in
value so far this year, while HCA has risen 35.5%, CYH is up 41%
and UHS has gained 47% YTD

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))