The Ramsay Health Care Limited (ASX: RHC) share price closed down 2.7% at $53.87 today despite the private hospital operator releasing no specific news to the market.
The Ramsay share price falls could be related to private health care insurers Medibank Private Ltd (ASX: MPL) and NIB Holdings Ltd (ASX: NHF) announcing softer-than-expected rises in premium charges for 2019.
Private health insurance premium charge increases are regulated by the government and Medibank today complained that its regulated premium increase of 3.3% was its lowest in 18 years, while NIB managed an increase of 3.3% across all products.
The Ramsay share price has been under pressure ever since it warned in August 2018 that its French and British hospital businesses were under pressure due to tougher funding environments.
It told investors at its November AGM to continue to expect earnings per share growth "up to 2%" for fiscal year 2019.
The vague forecast meaning Ramsay's share price could remain volatile up until its interim profit report scheduled for February 2019.
