At 37.54 with about $6 per share in cash its net price is about $31.50. This is less than 10 times forward EPS projections and even lower if measured against cash flow EPS (add the excess of depreciation and amortization over capital expenditures). Based on favorable demographics it is projected to grow EPS at about 15% per year.
This information is readily available to everyone. Therefore, the market has factored in something else. Is this that probable health care reform will curtail pricing and magins? I don't know but the market is sending a loud and clear message.