NEW YORK (TheStreet) --Several hospital stocks are climbing higher in afternoon trading on Monday, after President-elect Donald Trump suggested retaining some aspects of the Affordable Care Act (Obamacare) when he takes office in January.
Trump's message on the campaign trail was "repeal and replace" Obamacare, sending hospital stocks lower due to the expectation there will be fewer insured patients and an increase in costs for uninsured patients. However, as these new comments surface, the stocks have recovered.
"I don't think anyone really knows how it's going to impact them. If you're looking to buy, are they cheap enough? I think the answer is yes and it's time to do it," Short Hills Capital CIO Stephen Weiss said on CNBC's "Fast Money Halftime Report" today.
UBS O'Connor global macro portfolio manager Erin Browne suggested that the healthcare sector will be a significant beneficiary of a Trump presidency.
"This is one of the sectors where investors are going to be rotating their money into over the next few months. Certainly, there has been some money that has come out of the healthcare sector, I think you're going to see money going back into that," she explained.
She urged investors to rotate their money into the sectors aided by the Trump election. "The sectors where Donald Trump's policies are potentially going to work; financials, healthcare, and industrials," she said.