Bank of America Corp DE Sells 59,807 Shares of HCA Healthcare, Inc. $HCA

Key Points

• Bank of America reduced its HCA Healthcare position by 7.9%, selling 59,807 shares in the first quarter and retaining 694,000 shares valued at approximately $328.4 million. Institutional investors collectively own 62.73% of HCA.
• Analysts remain broadly positive, with 14 Buy, eight Hold, and one Sell rating; however, several firms lowered their price targets. The consensus rating is “Moderate Buy,” with an average target of $465.05.
• HCA reported quarterly EPS of $7.59 and revenue of $20.23 billion, exceeding estimates and representing 8.7% year-over-year revenue growth. The company also declared a quarterly dividend of $0.78 per share, equivalent to a 0.8% annual yield.

Bank of America Corp DE decreased its position in shares of HCA Healthcare, Inc. (NYSE:HCA - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 694,000 shares of the company's stock after selling 59,807 shares during the quarter. Bank of America Corp DE owned about 0.31% of HCA Healthcare worth $328,428,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of HCA. Nomura Asset Management Co. Ltd. boosted its position in shares of HCA Healthcare by 6.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 64,237 shares of the company's stock worth $29,990,000 after purchasing an additional 3,724 shares in the last quarter. Advisors Capital Management LLC raised its stake in HCA Healthcare by 61.5% during the 4th quarter. Advisors Capital Management LLC now owns 6,836 shares of the company's stock worth $3,192,000 after buying an additional 2,604 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in HCA Healthcare by 11.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,311,112 shares of the company's stock valued at $1,078,966,000 after acquiring an additional 245,887 shares during the period. Liberty Wealth Management LLC acquired a new position in shares of HCA Healthcare during the fourth quarter worth approximately $1,905,000. Finally, Intech Investment Management LLC grew its position in HCA Healthcare by 10.0% in the 4th quarter. Intech Investment Management LLC now owns 55,273 shares of the company's stock valued at $25,805,000 after purchasing an additional 5,019 shares during the period. Institutional investors own 62.73% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on HCA shares. Leerink Partners dropped their price objective on shares of HCA Healthcare from $573.00 to $500.00 and set an "outperform" rating on the stock in a research note on Monday, April 27th. Truist Financial lowered their target price on shares of HCA Healthcare from $535.00 to $495.00 and set a "buy" rating on the stock in a report on Monday, July 27th. Morgan Stanley decreased their price objective on HCA Healthcare from $425.00 to $380.00 and set an "underweight" rating for the company in a report on Monday, July 27th. JPMorgan Chase & Co. dropped their target price on HCA Healthcare from $535.00 to $490.00 and set a "neutral" rating on the stock in a report on Tuesday, May 19th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $435.00 price target on shares of HCA Healthcare in a research report on Monday, July 27th. Fourteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $465.05.

HCA Healthcare Trading Up 0.2%

NYSE:HCA opened at $403.44 on Monday. The firm's 50 day moving average is $387.06 and its 200 day moving average is $450.99. HCA Healthcare, Inc. has a 12 month low of $353.13 and a 12 month high of $556.52. The stock has a market capitalization of $87.35 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 1.40 and a beta of 1.10.

HCA Healthcare (NYSE:HCA - Get Free Report) last released its earnings results on Friday, July 24th. The company reported $7.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.56 by $0.03. The business 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 244.79% and a net margin of 8.77%.The business's revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the business posted $6.84 earnings per share. Research analysts predict that HCA Healthcare, Inc. will post 29.45 earnings per share for the current year.

HCA Healthcare Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, September 16th. HCA Healthcare's dividend payout ratio (DPR) is presently 10.45%.

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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