By Jeffrey T. Lewis


SÃO PAULO--Hapvida Participações e Investimentos SA's shares plunged 25% after the hospital operator reported a loss in the fourth quarter.

The shares reached 3.35 reais, the equivalent of 64 cents, and are down about 12% from the end of last year through Tuesday's close. Brazil's benchmark Ibovespa stocks index was down 0.7% in late-morning trading.

Hapvida said Tuesday after the close of trading that it had a consolidated net loss of BRL316.7 million in the quarter and had sales of BRL6.5 billion.

Hapvida's medical loss ratio was little changed, with few signs of improvement in sight, and financial expenses continue to pressure the company's bottom line, analysts at XP Investimentos said in a research note.


Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com


(END) Dow Jones Newswires

03-01-23 1004ET