Despite the general lack of conviction being shown on Wall Street, healthcare provider stocks are pulling back by substantial margins on Friday.
The losses by healthcare provider stocks have resulted in a 1 percent drop by the Morgan Stanley Healthcare Provider Index. With the retreat, the index is pulling back off of the historic closing high set on Thursday.
MedCath Corp. (MDTH) is helping to lead the sector lower, with the hospital operator currently down 2.6 percent, falling from yesterday's five and a half month closing high.
Community Health Systems Inc. (CYH) and Sunrise Senior Living Inc. (SRZ) are also moving considerably lower, posting losses of 3 percent and 2.4 percent, respectively. Notably, Sunrise is pulling back off of yesterday's four and a half month closing high.
On the other hand, Omnicare Inc. (OCR) and Tenet Healthcare Corp. (THC) are bucking the downtrend in the sector, with both edging up by 0.2 percent. Omnicare is looking to close at its best price in just over one year's time.
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