Hospital stocks are getting hammered by COVID-19


Health system stocks are taking a beating from COVID-19.

Amid investor concerns over the coronavirus pandemic and questions over the government's planned economic response, some of the top hospital companies' stocks have plummeted in recent days.

Among them: HCA Healthcare and Tenet Healthcare dropped by more than 50% and 70%, respectively, compared to their share price highs posted so far this year.

To be fair, shares across the stock market are getting pummeled. Trading was halted Wednesday after the Dow fell almost 10% and the S&P 500 dropped more than 8.4%.

RELATED: Hospitals to Congress: Don't forget us in COVID-19 stimulus package

  • HCA Healthcare: The Nashville, Tennessee-based hospital giant was trading at $68.13 as of the close, down 54% from a previous 2020 high of $151.05 HCA posted on Feb. 5.
  • Tenet Healthcare: At the close, the Dallas-based healthcare company was trading at $11.01, down 71% from a 2020 high of $38.35 on Jan. 2. 
  • Universal Health Services: The King of Prussia, Pennsylvania-based hospital company was trading at $67.69 at the close, down from a 2020 high of $142.72 on Feb. 21.
  • Community Health Systems: The publicly traded Franklin, Tennessee-based health system posted a share price of $2.55 on Wednesday, down from a 2020 high of $7.18 on Feb. 21. (The company was trading between $2 and $4 for much of 2019.)

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