HCA Healthcare, Inc. (NYSE:HCA – Get Free Report)’s stock price shot up 4.2% during mid-day trading on Friday following a stronger than expected earnings report. The stock traded as high as $392.13 and last traded at $392.2950. Approximately 195,252 shares traded hands during trading, a decline of 85% from the average daily volume of 1,321,555 shares. The stock had previously closed at $376.50.
The company reported $7.59 earnings per share for the quarter, topping analysts’ consensus estimates of $7.56 by $0.03. The firm had revenue of $20.23 billion during the quarter, compared to analyst estimates of $19.76 billion. HCA Healthcare had a negative return on equity of 295.93% and a net margin of 8.89%.The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.84 earnings per share.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on HCA. Wells Fargo & Company set a $369.00 price target on shares of HCA Healthcare in a report on Monday. Stephens decreased their target price on HCA Healthcare from $560.00 to $530.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. Deutsche Bank Aktiengesellschaft reduced their price objective on HCA Healthcare from $558.00 to $540.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. Wall Street Zen cut shares of HCA Healthcare from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Oppenheimer dropped their price objective on shares of HCA Healthcare from $540.00 to $520.00 and set an “outperform” rating for the company in a research note on Monday, April 27th. Fourteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $483.45.
Hedge Funds Weigh In On HCA Healthcare
A number of large investors have recently made changes to their positions in HCA. Brighton Jones LLC bought a new position in shares of HCA Healthcare during the fourth quarter valued at approximately $1,021,000. NewEdge Advisors LLC boosted its holdings in HCA Healthcare by 11.9% during the 1st quarter. NewEdge Advisors LLC now owns 3,859 shares of the company’s stock valued at $1,334,000 after acquiring an additional 409 shares during the period. Sivia Capital Partners LLC increased its stake in HCA Healthcare by 5.5% in the second quarter. Sivia Capital Partners LLC now owns 630 shares of the company’s stock worth $241,000 after purchasing an additional 33 shares during the period. Jump Financial LLC bought a new position in shares of HCA Healthcare in the second quarter worth about $2,073,000. Finally, Sei Investments Co. lifted its holdings in HCA Healthcare by 56.3% during the 2nd quarter. Sei Investments Co. now owns 136,589 shares of the company’s stock valued at $52,328,000 after buying an additional 49,214 shares in the last quarter. 62.73% of the stock is owned by hedge funds and other institutional investors.
HCA Healthcare Stock Performance
The stock’s 50 day simple moving average is $387.76 and its 200 day simple moving average is $454.23. The firm has a market capitalization of $87.79 billion, a P/E ratio of 13.70, a P/E/G ratio of 1.25 and a beta of 1.12.
HCA Healthcare Company 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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