TriStar Centennial Medical Center has secured a permit to rehab emergency room space, according to a Metro Codes Department document.
Nashville-based Batten & Shaw is handling the work, with the permit valued at $1.3 million. The permit follows a similar project, valued at more than $4 million, for work on the ER facility at the HCA Holdings flagship facility. Batten & Shaw handled that effort, too.
See the hospital, located at 2400 Patterson St., here courtesy of Google Maps.
Hospital stocks are seeing a lot of action after the Supreme Court ruled Thursday to uphold subsidies for consumers buying health insurance in states using the federal marketplace.
Avondale Partners analyst Paula Torch reiterated her 'market outperform' rating for HCA Holdings and raised the firm's price target to $103 from $90, saying the Supreme Court ruling "clears the runway for the multiple to expand."
Mizuho analyst Sheryl Skolnick has upgraded the stocks of Community Health Systems from 'neutral' to 'buy' and raised her $52 price target all the way to $83.90. On the flip side, CHS was downgraded by Raymond James John Ransom, who dropped the firm's 'outperform' rating to 'market perform.'
Also happening today:
• Leerink analyst Ana Gupta raised her price target for HCA from $95 to $100. She also raised her target for CHS to $70 from $60 and LifePoint Health from $75 to $85.
• Analysts at Oppenheimer raised their price target on HCA to $82 from $60 and CHS to $102 from $87.
• Jefferies analyst Brian Tanquilut raised his price target for HCA to $108 from $95 and CHS to $79 from $75.
Veteran hospital analyst Gary Lieberman at Wells Fargo expects that the Supreme Court's ruling Thursday safeguarding health insurance exchange subsidies will be the last major challenge to the Affordable Care Act. As a result, he has upgraded shares of locals HCA Holdings and Community Health Systems as well as Tenet Healthcare — even though they soared Thursday — to 'outperform' from 'market perform.' Notably, he left intact his lower rating on LifePoint Hospitals. Overall, Lieberman says the hospital sector should now have solid long-term profit prospects.
Investors bid up shares of many Middle Tennessee health care companies Thursday morning after the U.S. Supreme Court upheld subsidies for people using the federal health insurance marketplace. At about 9:30 a.m., almost a half hour after the justices issued their opinion, both HCA Holdings and Community Health Systems were up about 8 percent — both to all-time highs — while fellow hospital operator LifePoint Health was up 5 percent. Other publicly held locals such as behavioral health plays Acadia Healthcare and AAC Holdings were up slightly. You can track all their movements today here.
HCA Holdings' finance team has saved the company a few dollars by renegotiating two big loans with a group of lenders led by Bank of America. The Nashville-based hospital giant (Ticker: HCA) has replaced a $482 million term loan that would have expired next May and a $717 million facility due next February with a single $1.4 billion credit line that will mature in mid-2020. The new facility also comes with a lower interest rate.
Analyst Sarah James has formally begun covering shares of Nashville's big three hospital operators as well as other prominent health care players. She rates both HCA Holdings and Community Health Systems at 'outperform,' saying investors will benefit from, among other things, the growth of HCA's Parallon support services unit and CHS' potential for margin expansion. James isn't as bullish on the prospects of LifePoint Health, which she has given a 'neutral' rating.
Over at Goldman Sachs, analysts have launched coverage of Amsurg with a 'buy' rating and $81 target. That's 17 percent above where AmSurg (Ticker: AMSG) closed Wednesday trading.
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