Community Health leads hospital shares lower on profit warning
Shares of hospital operators fell in the extended session Wednesday after Community Health Systems Inc. forecast third-quarter results below the Wall Street consensus. Community Health Systems shares dropped 15% to $34.40. The company estimated third-quarter earnings of 56 cents a share on revenue of about $4.85 billion. Analysts surveyed by FactSet had estimated earnings of 89 cents a share on revenue of $4.95 billion. Shares of other hospital operators fell on the news with Tenet Healthcare Corp. down 8% to $32, and HCA Holdings Inc. down 7% at $66.30, and Lifepoint Health Inc. shares down 6% at $68.
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