Bank of Nova Scotia Invests $18.47 Million in HCA Healthcare, Inc. $HCA

Key Points

• Bank of Nova Scotia acquired 47,381 HCA Healthcare shares in the second quarter, valued at approximately $18.47 million. Institutional investors collectively own 62.73% of the company.
• HCA Healthcare exceeded quarterly expectations, reporting $7.59 in EPS and $20.23 billion in revenue, with revenue up 8.7% year over year.
• The company declared a quarterly dividend of $0.78 per share, or $3.12 annually, representing a 0.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $462.64.

Bank of Nova Scotia acquired a new position 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 institutional investor acquired 47,381 shares of the company's stock, valued at approximately $18,473,000.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. bought a new position in HCA Healthcare in the 2nd quarter worth about $5,069,974,000. State Street Corp boosted its position in shares of HCA Healthcare by 1.0% during the fourth quarter. State Street Corp now owns 7,566,643 shares of the company's stock worth $3,532,563,000 after buying an additional 76,039 shares during the period. Capital World Investors increased its position in HCA Healthcare by 0.8% in the 4th quarter. Capital World Investors now owns 4,999,422 shares of the company's stock valued at $2,334,040,000 after acquiring an additional 40,086 shares during the period. Geode Capital Management LLC boosted its position in HCA Healthcare by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 3,663,705 shares of the company's stock worth $1,702,738,000 after acquiring an additional 13,565 shares during the period. Finally, Norges Bank acquired a new position in shares of HCA Healthcare during the fourth quarter valued at $1,262,513,000. Institutional investors own 62.73% of the company's stock.

HCA Healthcare Stock Down 0.0%

Shares of HCA Healthcare stock opened at $429.08 on Monday. HCA Healthcare, Inc. has a 12-month low of $353.99 and a 12-month high of $556.52. The firm has a market capitalization of $92.90 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 1.49 and a beta of 1.10. The stock's fifty day moving average is $397.16 and its 200-day moving average is $443.77.

HCA Healthcare (NYSE:HCA - Get Free Report) last posted its quarterly earnings data on Friday, July 24th. The company reported $7.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.56 by $0.03. The firm had revenue of $20.23 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.84 EPS. Analysts expect that HCA Healthcare, Inc. will post 29.47 EPS for the current year.

HCA Healthcare Announces Dividend

The company also recently disclosed 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. This represents a $3.12 annualized dividend and a yield of 0.7%. The ex-dividend date is Wednesday, September 16th. HCA Healthcare's payout ratio is presently 10.45%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. The Goldman Sachs Group lowered their target price on shares of HCA Healthcare from $558.00 to $485.00 and set a "buy" rating on the stock in a research note on Tuesday, July 28th. Weiss Ratings cut HCA Healthcare from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, June 9th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of HCA Healthcare in a research note on Wednesday, July 15th. Stephens dropped their price target on shares of HCA Healthcare from $560.00 to $530.00 and set an "overweight" rating on the stock in a research report on Monday, April 27th. Finally, Wells Fargo & Company lifted their price objective on shares of HCA Healthcare from $369.00 to $381.00 and gave the stock an "equal weight" rating in a research note on Monday, August 3rd. Fourteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $462.64.

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.

Want to see what other hedge funds are holding HCA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HCA Healthcare, Inc. (NYSE:HCA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source