Sector Snap: Hospital operators edge higher

Health care speech has little effect on hospital operator shares, which have done well in 2009

• On 12:21 pm EDT, Thursday September 10, 2009

NEW YORK (AP) -- Hospital operator stocks traded higher Thursday but appeared unaffected by President Obama's health care reform address last night.

One of the primary goals of health care reform would be expanding coverage to the uninsured, which could increase admissions to hospitals. Shares of hospital operator stocks struggled in 2008, primarily due to declining admissions and rising unpaid debt. Several of the stocks have made strong recoveries this year.

In midday trading, shares of Tenet Healthcare Corp. picked up 13 cents, or 2.6 percent, to $5.22. Shares of the Dallas-based company have more than quadrupled in value in 2009.

Shares of Universal Health Services added 29 cents to $59.44. Stock in the King of Prussia, Pa., company has advanced 57 percent in 2009.

Shares of LifePoint Hospitals Inc. of Brentwood, Tenn., were unchanged at $24.62. LifePoint shares are up 7.8 percent this year.

Shares of Health Management Associates Inc. rose 13 cents to $7.19. The Naples, Fla., company's stock has more than tripled in value this year, and set an annual high of $7.35 on Thursday.