Leerink Swann Downgrades Vanguard Health Systems (VHS) to Market Perform

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Leerink Swann downgraded Vanguard Health Systems (NYSE: VHS) from Outperform to Market Perform with a valuation range of $16-$18 on valuation and DSH cuts.

"We are downgrading our rating on VHS shares to Market Perform from Outperform based on the recent share price gains (up 73% Y/Y) and the company's above average exposure to Medicare & Medicare DSH cuts," analyst Jason Gurda said. "In addition, we expect to hear from Arizona as early as today on the renewal of VHS' Phoenix Health Plan contracts, which could pressure the shares if the company doesn’t retain its position in all five regions."

For an analyst ratings summary and ratings history on Vanguard Health Systems click here. For more ratings news on Vanguard Health Systems click here.

Shares of Vanguard Health Systems closed at $17.45 yesterday, with a 52 week range of $6.92-$17.74.

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