Fifth Third Bancorp grew its position in HCA Healthcare, Inc. (NYSE:HCA – Free Report) by 262.1% during the first quarter, Holdings Channel.com reports. The firm owned 34,688 shares of the company’s stock after acquiring an additional 25,108 shares during the period. Fifth Third Bancorp’s holdings in HCA Healthcare were worth $16,416,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Palisade Asset Management LLC purchased a new stake in HCA Healthcare during the 3rd quarter worth about $26,000. Holos Integrated Wealth LLC acquired a new stake in shares of HCA Healthcare during the 4th quarter worth about $29,000. Ares Financial Consulting LLC acquired a new position in HCA Healthcare in the fourth quarter valued at approximately $31,000. Cedar Mountain Advisors LLC acquired a new stake in HCA Healthcare during the first quarter worth approximately $33,000. Finally, JPL Wealth Management LLC acquired a new position in shares of HCA Healthcare in the 3rd quarter valued at $33,000. 62.73% of the stock is currently owned by institutional investors and hedge funds.
HCA Healthcare Stock Down 6.7%
HCA opened at $364.46 on Wednesday. The business has a 50 day moving average price of $395.39 and a two-hundred day moving average price of $458.95. HCA Healthcare, Inc. has a 52 week low of $330.00 and a 52 week high of $556.52. The company has a market cap of $80.85 billion, a PE ratio of 12.53, a P/E/G ratio of 1.24 and a beta of 1.12.
HCA Healthcare Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were issued a $0.78 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $3.12 annualized dividend and a dividend yield of 0.9%. HCA Healthcare’s payout ratio is presently 10.73%.
HCA Healthcare News Roundup
Here are the key news stories impacting HCA Healthcare this week:
- Positive Sentiment: HCA said preliminary second-quarter revenue came in above Wall Street expectations, suggesting demand and patient volumes remained solid enough to support top-line growth. Reuters: HCA reports preliminary quarterly revenue above expectations
- Neutral Sentiment: KeyCorp lowered its price target to $475 from $510 but kept an overweight rating, while Wells Fargo trimmed its target to $428 and maintained an equal weight rating, signaling some caution but not a full bearish call. Benzinga: Analyst updates on HCA Healthcare
- Negative Sentiment: HCA reduced its full-year EPS guidance to 28.7 to 30.5, below consensus, indicating margin pressure and a softer profit outlook for the rest of the year.
- Negative Sentiment: Management cited payer mix shifts tied to health insurance exchanges, along with rising uninsured patients and declining surgeries, as factors squeezing quarterly earnings and hurting expectations. WSJ: HCA Healthcare shares drop after quarterly earnings squeezed by payer mix shifts
- Negative Sentiment: Barron’s reported that the stock fell after the company lowered its outlook, reinforcing investor concern that the strong revenue trend may not translate into comparable profit growth. Barrons: HCA Healthcare Stock Falls as Uninsured Patients and Declining Surgeries Dent Outlook
Analysts Set New Price Targets
Several equities research analysts recently commented on the stock. Raymond James Financial set a $528.00 price target on shares of HCA Healthcare in a research note on Tuesday, July 7th. TD Cowen cut their target price on HCA Healthcare from $500.00 to $431.00 and set a “buy” rating on the stock in a research report on Monday, June 22nd. Oppenheimer decreased their target price on HCA Healthcare from $540.00 to $520.00 and set an “outperform” rating for the company in a research report on Monday, April 27th. Robert W. Baird reduced their price objective on HCA Healthcare from $450.00 to $442.00 and set a “neutral” rating for the company in a research note on Wednesday, April 15th. Finally, Barclays lowered shares of HCA Healthcare from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $496.00 to $427.00 in a research report on Wednesday, July 8th. Fourteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $491.77.
Read Our Latest Report on HCA Healthcare
HCA Healthcare Profile
HCA Healthcare is a for‑profit operator of healthcare facilities headquartered in Nashville, Tennessee. Founded in 1968, the company owns and operates a network of hospitals and related healthcare facilities and has grown through organic expansion and acquisitions to become a large provider of inpatient and outpatient services.
The company’s core activities include the operation of acute care hospitals, freestanding surgical and emergency centers, and outpatient clinics. HCA’s services encompass inpatient care, surgical services, emergency medicine, diagnostic imaging and laboratory testing, and various outpatient and ambulatory care offerings.
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