We are in the thick of the first-quarter earnings season, and earnings and revenue figures so far point at improvement from the past few quarters.

Per the latest Earnings Outlook, total earnings for the 181 S&P 500 members, constituting 40% of the index’s total market capitalization, that have reported results (as of Apr 26) across all sectors, are up 10% from the year-ago period, driven by a 4.3% rise in revenues. Per the report, 75.7% companies posted an earnings beat, while 64.1% surpassed revenue estimates.

Healthcare, under the Medical umbrella, is one of the seven sectors in the S&P 500 group. So far, 33.3% of the total Medical sector companies have reported first-quarter results. The beat ratio is strong with 94.4% companies surpassing bottom-line expectations and 77.8% outperforming on the revenue front.

The sector has been in limelight since the change of power at the White House. President Donald Trump, who is keen to repeal and replace the Health Care Reform Act more popularly called Obamacare, has injected a fresh dose of uncertainty in the industry. His version of the policy called the American Health Care Act (AHCA) received a lukewarm response, and called for further amendments to the proposed bill.

The proposed amendment calls for setting aside funds to be used in covering a portion of costs alongside insurers. This would invariably result in bringing down premium costs while accommodating more people under the healthcare umbrella.

Had the AHCA been passed in its original form (without the proposed amendment), around 6–10 million Americans may have lost coverage. This would invariably have resulted in shrinkage in the customer base for hospital companies as a chunk of the population would lose their healthcare coverage. If the amendment is enacted, it would be effective from Jan 1, 2018.

The ultimate impact on the fortunes of hospital stocks will depend on the final shape that the law takes.

In the meantime, let’s peek into the results of these health care stocks that are slated to report first-quarter earnings on May 1:

Tenet Healthcare Corporation (THC Quick QuoteTHC - Free Report) owns or operates general hospitals and related health care facilities serving urban and rural communities in numerous states, and holds investments in other health care companies. The related health care facilities include a small number of rehabilitation hospitals, specialty hospitals and long-term care facilities.

It has an Earnings ESP of -7.55% as the Most Accurate estimate of a loss of 57 cents is wider than the Zacks Consensus Estimate of a loss of 53 cents.

The company’s Zacks Rank #5 (Strong Sell) along with a negative Earnings ESP makes a beat unlikely. We caution against stocks with a Zacks Rank #4 (Sell) or 5 going into earnings announcement, especially when the company is seeing negative estimate revisions. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Last quarter, Tenet Healthcare missed the Zacks Consensus Estimate by 70.00%. With respect to the surprise trend, Tenet Healthcare missed expectations in three of the last four quarters, with an average negative surprise of 17.97%.

Medpace Holdings, Inc. (MEDP Quick QuoteMEDP - Free Report) is a scientifically driven, global, full-service clinical contract research organization which provides Phase I-IV clinical development services to the biotechnology, pharmaceutical and medical device industries.

It has an Earnings ESP of -8.11% as the Most Accurate estimate of 34 cents per share is below the Zacks Consensus Estimate of 37 cents. This makes surprise prediction difficult even though the company has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.

Last quarter, Medpace Holdings, surpassed the Zacks Consensus Estimate by 2.94%.

Community Health Systems, Inc. (CYH Quick QuoteCYH - Free Report) is a leading provider of non-urban acute healthcare services. Their facilities, together with their medical staff, provide a wide range of inpatient and outpatient acute care services and a variety of specialty services.

It has an Earnings ESP of -85.71% as the Most Accurate estimate of 1 cent per share is way below the Zacks Consensus Estimate of 7 cents. This makes surprise prediction difficult even though the company carries a Zacks Rank #3.

Last quarter, Community Health surpassed the Zacks Consensus Estimate by 283.33%. With respect to the surprise trend, Community Health missed expectations in two of the last four quarters, but has an average positive surprise of 33.71%.