Vanguard shares slammed by Wells Arizona comment

The high-flying shares of Vanguard Health Systems have been taken down another notch in the wake of the company being passed over for an Arizona Medicaid contract extension. While a number of his peers earlier this week pretty much waved off the consequences of that move, Wells Fargo analyst Gary Lieberman this morning wrote that he thinks there's a 50/50 chance the Nashville-based company will lose $50 million annually in EBITDA from its Phoenix Health Plan, which could push down its stock by $5. In late-morning trading Wednesday, Vanguard (Ticker: VHS) was changing hands at $14.60, down about 9 percent on the day and off almost 20 percent from its 2013 peak last week.