HCA vs UHS — which stock performed better?

HCA Healthcare, Inc. (HCA) versus Universal Health Services, Inc. (UHS), Health Care, on 2026-09-23.

Result

Universal Health Services, Inc. (UHS) performed better on 2026-09-23. HCA moved -0.920%, UHS moved 2.540%.

Why these two companies

HCA Healthcare, the nation's largest for-profit hospital chain, saw fresh scrutiny on September 22, 2026 as outlets detailed its narrowed 2026 revenue and EPS guidance tied to the ACA-to-uninsured patient shift, while rival hospital operator Universal Health Services closed down 1.3% on September 21, 2026 even after topping Q2 EPS estimates. With both stocks trading well off their 52-week highs on the same industry headwind, this is a timely head-to-head on which hospital operator handles the reimbursement squeeze better into Q3 earnings season.

The research

HCA Healthcare runs a large network of hospitals and surgery centers across the country, while Universal Health Services runs a similar mix of general hospitals plus a sizable group of behavioral health facilities. Both companies make money by treating patients and getting paid by insurers, Medicare, and Medicaid, so anything that changes how many people have insurance affects them directly.

One reason someone might lean toward HCA is that it is the bigger, more dominant player with strong cash flow and a large ongoing stock buyback and dividend program, even after trimming its 2026 profit outlook. One reason someone might lean toward Universal Health Services is that it just beat its own earnings expectations and its behavioral-health business gives it a different mix of patients than a pure acute-care hospital chain.

Something worth keeping in mind for HCA is that it has cut its full-year outlook more than once this year because more patients are showing up without insurance, and some analysts have flagged concerns about how clean its recent profit numbers really are. Something worth keeping in mind for Universal Health Services is that its stock has also drifted well below its highest point of the past year, showing the whole hospital industry is feeling similar pressure, not just one company.

Both stocks report their next full earnings update in the coming weeks, HCA on a confirmed date and UHS on a date it has not yet announced, so news between now and then could move either stock before that formal report even arrives.