Canandaigua National Bank & Trust Co. Acquires New Position in HCA Healthcare, Inc. $HCA

Key Points

• Canandaigua National Bank & Trust acquired 4,176 HCA Healthcare shares valued at approximately $1.63 million, while institutional investors collectively own 62.73% of the company.
• HCA reported quarterly revenue of $20.23 billion and earnings of $7.59 per share, exceeding analyst estimates; revenue increased 8.7% year over year. The company also declared a quarterly dividend of $0.78 per share.
• Analysts maintain a “Moderate Buy” consensus rating with a $465.59 target price, although several brokerages recently lowered their targets. HCA is also expanding its outpatient network through the acquisition of 40 Texas urgent-care centers, while shareholder investigations add headline risk.

Canandaigua National Bank & Trust Co. acquired a new stake in shares of HCA Healthcare, Inc. (NYSE:HCA - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,176 shares of the company's stock, valued at approximately $1,628,000.

Several other hedge funds and other institutional investors have also made changes to their positions in HCA. State Street Corp raised its holdings in shares of HCA Healthcare by 1.0% in 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 lifted its position in shares of HCA Healthcare by 0.8% during the fourth quarter. Capital World Investors now owns 4,999,422 shares of the company's stock worth $2,334,040,000 after purchasing an additional 40,086 shares during the last quarter. Geode Capital Management LLC increased its stake in HCA Healthcare by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 3,663,705 shares of the company's stock worth $1,702,738,000 after buying an additional 13,565 shares during the period. Norges Bank bought a new position in HCA Healthcare in the 4th quarter worth about $1,262,513,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of HCA Healthcare by 11.9% during 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 in the last quarter. Hedge funds and other institutional investors own 62.73% of the company's stock.

HCA Healthcare Stock Up 2.3%

NYSE HCA opened at $409.78 on Thursday. The firm has a market cap of $88.72 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 1.39 and a beta of 1.10. HCA Healthcare, Inc. has a 52 week low of $353.99 and a 52 week high of $556.52. The company has a 50 day moving average price of $387.79 and a 200 day moving average price of $449.42.

HCA Healthcare (NYSE:HCA - Get Free Report) last issued its quarterly 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. HCA Healthcare had a negative return on equity of 244.79% and a net margin of 8.77%.The business had revenue of $20.23 billion for the quarter, compared to the consensus estimate of $19.76 billion. During the same period in the prior year, the firm posted $6.84 earnings per share. The business's quarterly revenue was up 8.7% on a year-over-year basis. On average, equities research analysts anticipate that HCA Healthcare, Inc. will post 29.45 earnings per share for the current fiscal year.

HCA Healthcare Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a $0.78 dividend. This represents a $3.12 annualized dividend 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%.

Key Headlines Impacting HCA Healthcare

Here are the key news stories impacting HCA Healthcare this week:

• Positive Sentiment: Wells Fargo analyst commentary indicated that HCA Healthcare’s stock is expected to rise, reinforcing a favorable Wall Street view of the company’s outlook. HCA Healthcare Stock Price Expected to Rise, Wells Fargo Analyst Says
• Positive Sentiment: HCA Healthcare acquired 40 Texas urgent-care centers from Texas MedClinic, expanding its outpatient footprint and adding facilities in a growing, lower-cost segment of healthcare delivery. The clinics are being rebranded under HCA’s network, which could support referral growth and operating synergies. HCA Acquires 40 Texas Urgent Care Centers
• Neutral Sentiment: An independent monitor discussed HCA’s ownership of Mission Hospital. The report keeps attention on oversight and performance at the North Carolina facility, but the article does not indicate a new financial penalty or material change to HCA’s operations. Independent Monitor Discusses HCA’s Ownership of Mission Hospital
• Negative Sentiment: Several law firms announced investigations into HCA and possible securities-law violations following the company’s preliminary operating and financial disclosures. These notices are generally solicitations for investors and do not establish wrongdoing, but they add headline risk and could lead to litigation costs or additional scrutiny. HCA Shareholder Alert Pomerantz Investor Alert Bragar Eagel & Squire Investigation Alert

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on HCA. KeyCorp decreased their target price on HCA Healthcare from $475.00 to $435.00 and set an "overweight" rating for the company in a research 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. Robert W. Baird cut their target price on shares of HCA Healthcare from $396.00 to $393.00 and set a "neutral" rating on the stock in a research report on Monday, July 27th. Raymond James Financial set a $528.00 price target on shares of HCA Healthcare in a research report on Tuesday, July 7th. Finally, UBS Group reduced their price objective on shares of HCA Healthcare from $635.00 to $579.00 and set a "buy" rating for the company in a research note on Monday, July 27th. Fourteen 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $465.59.

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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