Formula Growth Ltd. Invests $1.95 Million in HCA Healthcare, Inc. $HCA

Key Points

• Formula Growth Ltd. acquired 5,000 HCA Healthcare shares worth approximately $1.95 million during the second quarter. Institutional investors collectively own 62.73% of HCA’s stock.
• HCA reported quarterly earnings of $7.59 per share, slightly ahead of estimates, while revenue rose 8.7% year over year to $20.23 billion. The company declared a quarterly dividend of $0.78 per share, equivalent to a 0.7% yield.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $462.64, despite several firms recently lowering their targets; HCA shares opened at $419.19.

Formula Growth Ltd. acquired a new position in shares of HCA Healthcare, Inc. (NYSE:HCA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,000 shares of the company's stock, valued at approximately $1,949,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in HCA Healthcare during the second quarter valued at approximately $5,069,974,000. State Street Corp boosted its holdings in HCA Healthcare by 1.0% in the 4th quarter. State Street Corp now owns 7,566,643 shares of the company's stock valued at $3,532,563,000 after purchasing an additional 76,039 shares during the period. Capital World Investors increased its holdings in shares of HCA Healthcare by 0.8% in 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 period. Geode Capital Management LLC boosted its stake in HCA Healthcare by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 3,663,705 shares of the company's stock valued at $1,702,738,000 after buying an additional 13,565 shares during the period. Finally, Norges Bank bought a new position in HCA Healthcare in the 4th quarter worth about $1,262,513,000. 62.73% of the stock is owned by hedge funds and other institutional investors.

HCA Healthcare Trading Down 1.9%

HCA Healthcare stock opened at $419.19 on Friday. HCA Healthcare, Inc. has a 1-year low of $353.99 and a 1-year high of $556.52. The firm has a market cap of $90.75 billion, a P/E ratio of 14.03, a P/E/G ratio of 1.48 and a beta of 1.10. The firm has a 50-day moving average of $400.24 and a 200-day moving average of $441.63.

HCA Healthcare (NYSE:HCA - Get Free Report) last released its quarterly earnings results on Friday, July 24th. The company reported $7.59 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $19.76 billion. During the same quarter in the prior year, the company posted $6.84 EPS. HCA Healthcare's quarterly revenue was up 8.7% compared to the same quarter last year. Research analysts forecast that HCA Healthcare, Inc. will post 29.42 earnings per share for the current fiscal year.

HCA Healthcare Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.78 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $3.12 annualized dividend and a yield of 0.7%. HCA Healthcare's dividend payout ratio is 10.45%.

Analysts Set New Price Targets

Several brokerages have recently commented on HCA. Weiss Ratings lowered HCA Healthcare from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, June 9th. Morgan Stanley cut their price target on shares of HCA Healthcare from $425.00 to $380.00 and set an "underweight" rating for the company in a research note on Monday, July 27th. Oppenheimer dropped their price objective on shares of HCA Healthcare from $520.00 to $485.00 and set an "outperform" rating for the company in a report on Monday, July 27th. Truist Financial lowered their price target on HCA Healthcare from $535.00 to $495.00 and set a "buy" rating on the stock in a research report on Monday, July 27th. Finally, UBS Group cut their price objective on HCA Healthcare from $635.00 to $579.00 and set a "buy" rating for the company in a report on Monday, July 27th. Fourteen equities 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's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $462.64.

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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