Various healthcare companies' stock fared well while others swung the opposite direction after legislators opted to withdraw the American Health Care Act on March 24, 2017, CNBC reports.
Many leading payers' stock fell following the news. Bloomfield, Conn.-based Cigna share fell 2.25 percent on March 24. Indianapolis-based Anthem shares also took a dip, falling more than 1.5 percent that day. March 24th marked the company's lowest day this year since Feb. 17, 2017.
A Leerink Partners analyst told CNBC on its "Squawk Box" that the payers would likely have experienced an increase in their stock's value if the bill had passed.
Dallas-based Tenet Healthcare shares rallied 7.4 percent on March 24 and Franklin, Tenn.-based Community Health Systems shares jumped more than 9.5 percent.
Other companies and health systems were victorious following the AHCA withdrawal including Franklin-based Acadia Healthcare whose shares increased almost 6 percent and Long Beach, Calif.-based Molina Healthcare whose shares rallied 4.6 percent on March 24.