Shares of HCA Healthcare surged after the hospital operator released its fourth-quarter results, surpassing expectations. The company's continued expansion in both inpatient and outpatient procedures contributed to this success.
In the fourth quarter, HCA admissions increased by 3.1% compared to the same period last year, within hospitals owned during both periods. Surgeries within hospitals also experienced growth, rising by 1% during the quarter. Furthermore, outpatient centers saw a 0.7% increase in procedures.
The rise of hospital chains can be attributed to health insurers reporting a higher number of their enrollees seeking hospital care.
Pfizer, on the other hand, saw a slight decline as the Big Pharma concern reiterated its growth forecast for 2024. The company continues to face challenges due to the decreasing sales related to Covid-19.
Meanwhile, Vertex Pharmaceuticals observed a significant increase in its share value. This surge follows the release of positive data from a trial of a non-opioid painkiller. This medicine offers an alternative to highly addictive pain medications. However, it is important to note that the experimental drug displayed some limitations when compared to the popular opioid Vicodin.
