New York, Feb 12, 2026, 16:46 ET — Trading after the bell
HCA Healthcare (HCA.N) shares ticked up roughly 0.7% to $535.22 in Thursday’s after-hours session. Earlier, the stock reached as high as $552.85 before surrendering most of those intraday gains.
HCA’s late swing keeps the focus on hospital operators, who now find themselves an immediate gauge for just how much pricing and volume muscle the sector can take into 2026.
Investors keep circling the same question: are admissions and surgeries holding up well enough to balance out wage costs and shifts in payer mix. HCA’s scale means its results often offer the first clues.
HCA finished Wednesday up 5.86% at $531.47—marking a fresh 52-week high—on volume roughly twice its 50-day average, according to MarketWatch. Tenet Healthcare (THC.N) soared 17.26% and Community Health Systems (CYH.N) tacked on 6.98%. 1
Late Wednesday, a Form 144 filed with the SEC revealed that a shareholder intends to unload 8,020 shares of HCA, valued at roughly $4.1 million, via Merrill Lynch. The filing, standard under Rule 144, doesn’t confirm a completed transaction—just signals a plan to sell restricted or “control” shares. 2
Late-January earnings and outlook are still the main story for the stock. HCA’s fourth-quarter revenue landed at $19.513 billion, while its 2026 revenue forecast came in at $76.5 billion to $80.0 billion. “We finished 2025 with strong performance consistent with previous quarters,” CEO Sam Hazen said in the release. 3
HCA shares climbed after the company laid out a 2026 profit forecast topping Wall Street’s expectations and signed off on a $10 billion share repurchase plan, Reuters said. 4
Rival hospitals have chipped in as well. Tenet delivered its numbers Wednesday and projected 2026 adjusted EBITDA—a standard yardstick for hospital profit, factoring out certain items—between $4.485 billion and $4.785 billion. “We see continued demand for acute care and ambulatory surgical services,” CEO Saum Sutaria said. 5
Still, hospital shares can move fast if policy winds or payer dynamics change direction. Tenet has warned that losing those expanded Affordable Care Act subsidies might squeeze both patient volumes and its “payer mix”—that is, the balance of insurance among patients. It’s not just a Tenet problem; the whole sector feels it. 6
Traders now look to Friday’s U.S. consumer price index for January, set for release at 8:30 a.m. ET. That readout could jolt Treasury yields and shake up risk sentiment before the following session. 7
