Magellan Asset Management Ltd Has $179.29 Million Stake in HCA Healthcare, Inc. (NYSE:HCA)

Key Points

• Magellan Asset Management Ltd has reduced its stake in HCA Healthcare by 1.7%, owning approximately $179.29 million in shares, making it the firm's 22nd largest holding.
• The company reported earnings of $6.84 per share for the last quarter, exceeding analyst expectations and demonstrating a revenue increase of 6.4% year-over-year.
• HCA Healthcare recently announced a quarterly dividend of $0.72 per share, with a yield of 0.8% and a payout ratio of 12.11%.

Magellan Asset Management Ltd lowered its position in shares of HCA Healthcare, Inc. (NYSE:HCA - Free Report) by 1.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 518,840 shares of the company's stock after selling 8,934 shares during the quarter. HCA Healthcare accounts for about 2.2% of Magellan Asset Management Ltd's investment portfolio, making the stock its 22nd biggest holding. Magellan Asset Management Ltd owned about 0.22% of HCA Healthcare worth $179,285,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Avantax Advisory Services Inc. lifted its position in shares of HCA Healthcare by 0.4% in the first quarter. Avantax Advisory Services Inc. now owns 8,077 shares of the company's stock worth $2,791,000 after purchasing an additional 32 shares in the last quarter. Catalyst Financial Partners LLC lifted its stake in shares of HCA Healthcare by 4.3% during the 1st quarter. Catalyst Financial Partners LLC now owns 872 shares of the company's stock worth $301,000 after buying an additional 36 shares during the last quarter. Moors & Cabot Inc. lifted its stake in shares of HCA Healthcare by 4.8% during the 1st quarter. Moors & Cabot Inc. now owns 858 shares of the company's stock worth $297,000 after buying an additional 39 shares during the last quarter. Perigon Wealth Management LLC increased its position in HCA Healthcare by 2.3% during the first quarter. Perigon Wealth Management LLC now owns 1,797 shares of the company's stock worth $621,000 after acquiring an additional 40 shares during the period. Finally, Barden Capital Management Inc. increased its position in HCA Healthcare by 1.4% during the first quarter. Barden Capital Management Inc. now owns 2,921 shares of the company's stock worth $1,009,000 after acquiring an additional 41 shares during the period. Institutional investors and hedge funds own 62.73% of the company's stock.

Insiders Place Their Bets

In other news, COO Jon M. Foster sold 15,698 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $369.32, for a total transaction of $5,797,585.36. Following the completion of the sale, the chief operating officer owned 12,646 shares of the company's stock, valued at $4,670,420.72. This represents a 55.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.30% of the company's stock.

HCA Healthcare Price Performance

Shares of NYSE:HCA opened at $381.84 on Friday. The company has a 50-day moving average price of $369.74 and a two-hundred day moving average price of $349.36. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 69.07. HCA Healthcare, Inc. has a twelve month low of $289.98 and a twelve month high of $417.14. The firm has a market capitalization of $89.35 billion, a PE ratio of 16.05, a P/E/G ratio of 1.20 and a beta of 1.39.

HCA Healthcare (NYSE:HCA - Get Free Report) last announced its earnings results on Friday, July 25th. The company reported $6.84 earnings per share for the quarter, beating analysts' consensus estimates of $6.20 by $0.64. HCA Healthcare had a net margin of 8.21% and a negative return on equity of 7,363.11%. The business had revenue of $18.61 billion for the quarter, compared to the consensus estimate of $18.49 billion. During the same period last year, the firm posted $5.50 earnings per share. HCA Healthcare's quarterly revenue was up 6.4% on a year-over-year basis. Equities analysts forecast that HCA Healthcare, Inc. will post 24.98 EPS for the current year.

HCA Healthcare Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.88 dividend on an annualized basis and a yield of 0.8%. HCA Healthcare's payout ratio is 12.11%.

Analyst Upgrades and Downgrades

HCA has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of HCA Healthcare from $360.00 to $370.00 and gave the company a "neutral" rating in a report on Monday, August 4th. Royal Bank Of Canada decreased their target price on shares of HCA Healthcare from $404.00 to $401.00 and set an "outperform" rating on the stock in a report on Monday, July 28th. Wells Fargo & Company raised shares of HCA Healthcare from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $320.00 to $385.00 in a report on Thursday, May 29th. Barclays decreased their price target on shares of HCA Healthcare from $416.00 to $390.00 and set an "overweight" rating on the stock in a report on Monday, July 28th. Finally, Truist Financial lifted their price target on shares of HCA Healthcare from $390.00 to $415.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $395.69.

HCA Healthcare Profile

HCA Healthcare, Inc, through its subsidiaries, owns and operates hospitals and related healthcare entities in the United States. It operates general and acute care hospitals that offers medical and surgical services, including inpatient care, intensive care, cardiac care, diagnostic, and emergency services; and outpatient services, such as outpatient surgery, laboratory, radiology, respiratory therapy, cardiology, and physical therapy.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.