Palisade Capital Management LP purchased a new stake in shares of HCA Healthcare, Inc. (NYSE:HCA – Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 16,582 shares of the company’s stock, valued at approximately $6,465,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Canada Pension Plan Investment Board bought a new position in HCA Healthcare in the 2nd quarter worth about $48,198,000. Element Capital Management LLC purchased a new position in shares of HCA Healthcare during the second quarter worth about $5,030,000. Eschler Asset Management LLP purchased a new stake in HCA Healthcare in the second quarter valued at approximately $854,000. Lakewood Capital Management LP purchased a new position in HCA Healthcare in the 2nd quarter worth approximately $15,011,000. Finally, Legal & General Group Plc purchased a new stake in shares of HCA Healthcare during the 2nd quarter valued at $410,992,000. 62.73% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
HCA has been the topic of a number of research analyst reports. Argus reduced their target price on HCA Healthcare from $560.00 to $500.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. Cantor Fitzgerald cut their price objective on HCA Healthcare from $588.00 to $525.00 and set an “overweight” rating for the company in a report on Tuesday, July 7th. Jefferies Financial Group set a $450.00 price objective on HCA Healthcare in a report on Tuesday, July 14th. Wells Fargo & Company increased their price target on shares of HCA Healthcare from $369.00 to $381.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of HCA Healthcare in a report on Wednesday, July 15th. Fourteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, HCA Healthcare currently has a consensus rating of “Moderate Buy” and a consensus target price of $462.64.
HCA Healthcare Price Performance
Shares of HCA stock opened at $428.90 on Wednesday. The business has a 50-day moving average of $398.59 and a 200 day moving average of $442.83. The stock has a market capitalization of $92.86 billion, a PE ratio of 14.36, a P/E/G ratio of 1.49 and a beta of 1.10. HCA Healthcare, Inc. has a 1-year low of $353.99 and a 1-year high of $556.52.
HCA Healthcare (NYSE:HCA – Get Free Report) last announced its quarterly earnings data on Friday, July 24th. The company reported $7.59 earnings per share for the quarter, beating the consensus estimate of $7.56 by $0.03. HCA Healthcare had a negative return on equity of 244.79% and a net margin of 8.77%.The firm had revenue of $20.23 billion during the quarter, compared to the consensus estimate of $19.76 billion. During the same quarter in the previous year, the company posted $6.84 earnings per share. The business’s revenue was up 8.7% on a year-over-year basis. Analysts anticipate that HCA Healthcare, Inc. will post 29.42 EPS for the current year.
HCA Healthcare Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $3.12 dividend on an annualized basis and a yield of 0.7%. HCA Healthcare’s dividend payout ratio is presently 10.45%.
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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