HCA Healthcare (NYSE:HCA) Stock Price Up 4.2% After Better-Than-Expected Earnings

HCA Healthcare, Inc. (NYSE:HCA) shares were 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. 195,252 shares were traded during mid-day trading, a decline of 85% from the average session 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, beating the consensus estimate of $7.56 by $0.03. The firm had revenue of $20.23 billion during the quarter, compared to the consensus estimate of $19.76 billion. HCA Healthcare had a negative return on equity of 295.93% and a net margin of 8.89%.The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $6.84 earnings per share.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Leerink Partners lowered their target price on HCA Healthcare from $573.00 to $500.00 and set an “outperform” rating for the company in a report on Monday, April 27th. Raymond James Financial set a $528.00 price objective on HCA Healthcare in a research note on Tuesday, July 7th. Argus reduced their target price on shares of HCA Healthcare from $560.00 to $500.00 and set a “buy” rating for the company in a report on Monday, May 4th. Weiss Ratings lowered shares of HCA Healthcare from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 9th. Finally, Wells Fargo & Company set a $369.00 target price on shares of HCA Healthcare in a research note on Monday. Fourteen research 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $483.45.

Institutional Investors Weigh In On HCA Healthcare

Large investors have recently made changes to their positions in the stock. Palisade Asset Management LLC acquired a new position in shares of HCA Healthcare in the third quarter valued at about $26,000. Ares Financial Consulting LLC acquired a new position in HCA Healthcare in the 4th quarter worth approximately $31,000. Cedar Mountain Advisors LLC acquired a new stake in HCA Healthcare during the 1st quarter valued at approximately $33,000. MCF Advisors LLC increased its stake in shares of HCA Healthcare by 213.0% in the fourth quarter. MCF Advisors LLC now owns 72 shares of the company’s stock worth $34,000 after acquiring an additional 49 shares during the period. Finally, Basepoint Wealth LLC acquired a new position in HCA Healthcare during the fourth quarter valued at $35,000. 62.73% of the stock is owned by hedge funds and other institutional investors.

HCA Healthcare Stock Performance

The firm has a market cap of $87.79 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 1.25 and a beta of 1.12. The stock has a 50 day simple moving average of $387.76 and a two-hundred day simple moving average of $454.23.

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.