News from Nashville

Research evidence excerpt

News from Nashville

RBC Capital Markets, LLC

Ben Hendrix (Analyst)

(615) 372-1323, ben.hendrix@rbccm.com

Michael Murray, CFA (AVP)

(615) 372-1321, michael.murray@rbccm.com

Drew Sterrett (Associate)

(615) 487-8638, drew.sterrett@rbccm.com

June 22, 2026

News from Nashville Quote of the week “Voters trust Democrats more than RepublicansRESEARCH to address health care issues. There is a A weekly perspective on Healthcare: industry and

company news, valuation update meaningful share of the electorate, however, especially Independents, that don’t trust either

Our view: U.S. equities finished the week higher as the possible easing party. And there is an opening for elected

of Iran tensions lifted sentiment across the broader market. The Nasdaq officials, for candidates to appeal to these voters

led gains while the Dow lagged, with tech and chips outperforming. who are waiting to be persuaded.” — Marissa

In healthcare, managed care stocks were down on the week alongside Padilla, partner at the Democratic polling firm

hospital providers, with the sector facing continued pressure from the One Global Strategy Group and a former healthEQUITY Big Beautiful Bill's sweeping Medicaid cuts, with a new CMS proposed rule staffer in the Obama administration (see article

threatening to further increase those reductions. excerpt on page 4)

Highlights for the week ended June 18th Healthcare sub-sector stock price performance

Sector price performance: For the week ended June 18th, healthcare for the week ended June 18th, 2026

services underperformed the broader market, with the S&P Healthcare

Weekly Services Select up 0.3% (+4.6% the prior week) vs. the S&P 500’s 1.4%

Home Health 6.6% increase (+0.6% the prior week). Acute care hospitals were down 2.7% on