Leerink Swann analyst Jason Gurda on Friday hit the brakes on the impressive recent run in Vanguard Health Systems. In a note lowering shares of the Nashville-based hospital operator to 'market perform' from 'outperform,' Gurda said the company stands to be hurt by potential cuts in so-called disproportionate-share payments by the Centers for Medicare and Medicaid Services. That led Vanguard shares (Ticker: VHS) to give up almost 5 percent. Still, the stock is up more than 30 percent in 2013, although it's likely to drop some more today on word of the loss of its big Arizona Medicaid contract.
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