Why Are Healthcare Services Stocks Plunging Today?

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Tenet Healthcare Corp (NYSE:THC) is down by 13.8% and HCA Holdings Inc (NYSE:HCA) is off by 4.7% on the back of the weakness seen in the aforementioned stocks. Investors fear that Tenet Healthcare and HCA Holdings Inc (NYSE:HCA) could also report weaker volumes and lower sales for their quarterly reports due to the same fundamental factors affecting both healthcare services companies.

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According to our data, hedge funds were bullish on Tenet Healthcare Corp (NYSE:THC) in the second quarter. A total of 48 funds reported stakes worth $1.63 billion accounting for 28.50% of the float as of the end of June. The smart money was also optimistic on HCA Holdings, with 83 funds owning $5.02 billion worth of the company’s shares, accounting for 13.40% of the float as of June 30.

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Disclosure: None

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