NewEdge Wealth LLC Invests $2.44 Million in HCA Healthcare, Inc. $HCA

Key Points

• NewEdge Wealth LLC acquired 6,258 HCA Healthcare shares worth approximately $2.44 million in the second quarter. Institutional investors collectively own 62.73% of the company.
• HCA reported quarterly earnings of $7.59 per share and revenue of $20.23 billion, exceeding analyst estimates, while revenue increased 8.7% year over year. The company also declared a quarterly dividend of $0.78 per share.
• Analysts maintain a generally positive view, with a “Moderate Buy” consensus rating and an average price target of $462.64, above the stock’s reported $406.33 price.

NewEdge Wealth LLC bought a new stake in HCA Healthcare, Inc. (NYSE:HCA - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,258 shares of the company's stock, valued at approximately $2,440,000.

Several other large investors have also made changes to their positions in HCA. Palisade Asset Management LLC acquired a new stake in HCA Healthcare in the third quarter valued at approximately $26,000. MidFirst Bank bought a new position in shares of HCA Healthcare during the 2nd quarter valued at $28,000. Clearstead Trust LLC bought a new stake in HCA Healthcare in the second quarter worth $29,000. Ares Financial Consulting LLC bought a new position in HCA Healthcare during the fourth quarter valued at about $31,000. Finally, Cedar Mountain Advisors LLC bought a new stake in shares of HCA Healthcare during the 1st quarter worth about $33,000. Institutional investors own 62.73% of the company's stock.

HCA Healthcare Trading Down 0.2%

Shares of NYSE HCA opened at $406.33 on Friday. The business has a fifty day simple moving average of $396.32 and a 200 day simple moving average of $444.25. HCA Healthcare, Inc. has a one year low of $353.99 and a one year high of $556.52. The firm has a market capitalization of $87.97 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 1.41 and a beta of 1.10.

HCA Healthcare (NYSE:HCA - Get Free Report) last issued its 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 during the quarter, compared to analysts' expectations of $19.76 billion. During the same period in the prior year, the firm posted $6.84 EPS. HCA Healthcare's quarterly revenue was up 8.7% compared to the same quarter last year. On average, research analysts anticipate that HCA Healthcare, Inc. will post 29.47 earnings per share for the current fiscal year.

HCA Healthcare Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a $0.78 dividend. 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 10.45%.

Analysts Set New Price Targets

HCA has been the subject of several analyst reports. Mizuho reduced their target price on HCA Healthcare from $525.00 to $475.00 and set an "outperform" rating for the company in a report on Tuesday, July 28th. 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. Deutsche Bank Aktiengesellschaft set a $476.00 target price on shares of HCA Healthcare in a research note on Monday, July 27th. Leerink Partners decreased their price target on shares of HCA Healthcare from $573.00 to $500.00 and set an "outperform" rating for the company in a report on Monday, April 27th. Finally, Wells Fargo & Company boosted their price objective on HCA Healthcare from $369.00 to $381.00 and gave the stock an "equal weight" rating in a research report on Monday, August 3rd. Fourteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $462.64.

About HCA Healthcare

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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