Munich Reinsurance Co Stock Corp in Munich Reduces Stake in HCA Healthcare, Inc. $HCA

Key Points

• Munich Reinsurance reduced its HCA Healthcare stake by 91.5% in the second quarter, selling 20,009 shares and retaining 1,857 shares valued at approximately $724,000. Institutional investors collectively own 62.73% of HCA stock.
• HCA reported quarterly revenue of $20.23 billion and earnings of $7.59 per share, exceeding analyst expectations; revenue increased 8.7% year over year.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $462.64, while HCA announced a quarterly dividend of $0.78 per share, yielding approximately 0.8% annually.

Munich Reinsurance Co Stock Corp in Munich lessened its holdings in shares of HCA Healthcare, Inc. (NYSE:HCA - Free Report) by 91.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,857 shares of the company's stock after selling 20,009 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich's holdings in HCA Healthcare were worth $724,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Palisade Asset Management LLC bought a new stake in shares of HCA Healthcare during the 3rd quarter valued at about $26,000. Cedar Mountain Advisors LLC purchased a new stake in HCA Healthcare in the first quarter worth about $33,000. MCF Advisors LLC grew its holdings in shares of HCA Healthcare by 213.0% during the 4th quarter. MCF Advisors LLC now owns 72 shares of the company's stock worth $34,000 after acquiring an additional 49 shares during the period. MidFirst Bank purchased a new position in shares of HCA Healthcare in the 2nd quarter valued at approximately $28,000. Finally, Clearstead Trust LLC purchased a new stake in HCA Healthcare in the second quarter worth $29,000. 62.73% of the stock is currently owned by institutional investors.

HCA Healthcare Price Performance

HCA Healthcare stock opened at $404.95 on Friday. HCA Healthcare, Inc. has a one year low of $353.99 and a one year high of $556.52. The business's fifty day moving average is $403.35 and its 200 day moving average is $437.55. The stock has a market capitalization of $87.67 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.33 and a beta of 1.10.

HCA Healthcare (NYSE:HCA - Get Free Report) last posted its earnings results on Friday, July 24th. The company reported $7.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.56 by $0.03. HCA Healthcare had a net margin of 8.77% and a negative return on equity of 244.79%. The business had revenue of $20.23 billion for the quarter, compared to analysts' expectations of $19.76 billion. During the same quarter in the prior year, the business earned $6.84 EPS. The business's revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, sell-side analysts expect that HCA Healthcare, Inc. will post 29.42 EPS for the current fiscal year.

HCA Healthcare Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a dividend of $0.78 per share. The ex-dividend date is Wednesday, September 16th. This represents a $3.12 dividend on an annualized basis and a yield of 0.8%. HCA Healthcare's payout ratio is currently 10.45%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on HCA shares. Oppenheimer dropped their target price on shares of HCA Healthcare from $520.00 to $485.00 and set an "outperform" rating on the stock in a report on Monday, July 27th. Truist Financial dropped their price objective on shares of HCA Healthcare from $535.00 to $495.00 and set a "buy" rating on the stock in a research note on Monday, July 27th. Wells Fargo & Company lifted their target price on shares of HCA Healthcare from $369.00 to $381.00 and gave the company an "equal weight" rating in a report on Monday, August 3rd. The Goldman Sachs Group reduced their price objective on HCA Healthcare from $558.00 to $485.00 and set a "buy" rating for the company in a research report on Tuesday, July 28th. Finally, Deutsche Bank Aktiengesellschaft set a $476.00 price target on HCA Healthcare in a 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 assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.

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