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Renewed Obamacare Repeal Effort Sends Hospital Stocks Down
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Hospital stocks have dipped again amid reports that House Republicans will continue to pursue their health care reform plan in 2017.
Just days after House Speaker Paul Ryan pulled the GOP’s initial health care bill, the American Health Care Act, some Republicans have renewed their pursuit for the replacement and repeal of Obamacare. "We promised that we would repeal and replace Obamacare, and that's exactly what we're going to do," House Majority Leader Kevin McCarthy told reporters after a members-only Tuesday meeting.
Since the announcement Tuesday morning, multiple health care sector companies, including hospitals, have seen stock prices dip.
One of the biggest providers of acute health care services in the U.S., Community Health Systems, Inc. (CYH), saw its stock drop 4.41% to $9.20 per share on Tuesday. The Dallas, Texas-based health care services giant Tenet Healthcare Corp.’s (THC - Free Report) stock went down 0.94% to $18.36 per share.
Hospital management power Universal Health Services, Inc. (UHS - Free Report) stock dipped 0.36% to $125.52 per share. Nashville, Tennessee-based hospital and surgery center manager HCA Holdings, Inc.’s (HCA - Free Report) stock went down 0.92% to $89.65 per share.
Acadia Healthcare Company Inc. (ACHC - Free Report) , which helps treat addiction, behavioral health, and mental health, saw its stock price dip 1.02% to $43.59 per share. Long Beach, California-based Molina Healthcare, Inc.’s (MOH - Free Report) stock went down 0.35% to $45.75 per share.
A Few Health Care Stocks See A Boost
While some health care industry giants took a hit after the news of a renewed GOP health law push was announced, others profited. Some medical device sector companies benefited last week when an Obamacare repeal seemed more likely.
Inogen Inc. (INGN - Free Report) , which develops and manufactures portable oxygen concentrators, stock gained 1.42% Tuesday after it rose roughly 27% over the last 30 days. Inogen is a Zacks Rank #1(Strong Buy).
Health care insurance provider Aetna Inc.’s stock went up 0.59% to $127.01 per share Tuesday. Fellow insurance giant Humana Inc. (HUM) saw its stock jump 1.55% to $206.63 per share.
The largest health care ETF in terms of market cap, Health Care Select Sector SPDR’s (XLV - Free Report) stock went up 1.81% to $1,415.20 per share.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>
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Renewed Obamacare Repeal Effort Sends Hospital Stocks Down
Hospital stocks have dipped again amid reports that House Republicans will continue to pursue their health care reform plan in 2017.
Just days after House Speaker Paul Ryan pulled the GOP’s initial health care bill, the American Health Care Act, some Republicans have renewed their pursuit for the replacement and repeal of Obamacare. "We promised that we would repeal and replace Obamacare, and that's exactly what we're going to do," House Majority Leader Kevin McCarthy told reporters after a members-only Tuesday meeting.
Since the announcement Tuesday morning, multiple health care sector companies, including hospitals, have seen stock prices dip.
One of the biggest providers of acute health care services in the U.S., Community Health Systems, Inc. (CYH), saw its stock drop 4.41% to $9.20 per share on Tuesday. The Dallas, Texas-based health care services giant Tenet Healthcare Corp.’s (THC - Free Report) stock went down 0.94% to $18.36 per share.
Hospital management power Universal Health Services, Inc. (UHS - Free Report) stock dipped 0.36% to $125.52 per share. Nashville, Tennessee-based hospital and surgery center manager HCA Holdings, Inc.’s (HCA - Free Report) stock went down 0.92% to $89.65 per share.
Acadia Healthcare Company Inc. (ACHC - Free Report) , which helps treat addiction, behavioral health, and mental health, saw its stock price dip 1.02% to $43.59 per share. Long Beach, California-based Molina Healthcare, Inc.’s (MOH - Free Report) stock went down 0.35% to $45.75 per share.
A Few Health Care Stocks See A Boost
While some health care industry giants took a hit after the news of a renewed GOP health law push was announced, others profited. Some medical device sector companies benefited last week when an Obamacare repeal seemed more likely.
Inogen Inc. (INGN - Free Report) , which develops and manufactures portable oxygen concentrators, stock gained 1.42% Tuesday after it rose roughly 27% over the last 30 days. Inogen is a Zacks Rank #1(Strong Buy).
Health care insurance provider Aetna Inc.’s stock went up 0.59% to $127.01 per share Tuesday. Fellow insurance giant Humana Inc. (HUM) saw its stock jump 1.55% to $206.63 per share.
The largest health care ETF in terms of market cap, Health Care Select Sector SPDR’s (XLV - Free Report) stock went up 1.81% to $1,415.20 per share.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging
phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>