MedPartners cuts earnings targets; stock drops 12.5%
Article Abstract:
MedPartners Inc., the largest physician-practice management company, lowered its earnings targets for 1998 and 1999, and its stock fell 12.5%. PhyCor Inc., the second largest physician-practice management company, cut its annual earnings targets last month. Shares of both MedPartners and PhyCor were hard hit and have yet to recover. MedPartners said difficulties consolidating acquisitions in Southern California will take longer than anticipated to resolve. As a result, the MedPartners expects earnings of 10 cents a share to 14 cents this year.
Comment:
MedPartners Inc. lowered its earnings targets for 1998 and 1999
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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HealthSouth stock plunges on forecast
Article Abstract:
HealthSouth Corp.'s shares fell 28% as concerns grew about how the company's 1998 and 1999 earnings would be affected by pricing in the managed care industry. The fall in share value reflected the deteriorating situation in the health care industry. The chairman and CEO of HealthSouth, Richard M. Scurshy, said that his company's long-term annual growth is strarting to slow to 15% and 20% because of the downgrades of its shares.
Comment:
Shares fall 28% as concerns grow about affects of managed care pricing on company's 1998 and 1999 earnings
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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PhyCor lowers earnings expectations, citing weak results from acquisitions
Article Abstract:
Nashville, TN-based Phycor Inc. reduced its earnings expectations for the 1998 third-quarter and fourth-quarter, blaming weaker -than-expected results from recent physician-practice acquisitions. Problems of meshing existing smaller practices will result in a larger-than-expected write-off. The company has also reduced its targets for earnings growth from between 20% and 25% to 15% for 1999.
Comment:
Reduced its earnings expectations for '98 third-quarter & fourth-quarter, blaming weaker -than-expected results from recent acqs
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Comment about this article or add new information about this topic:
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