Pzena Investment Management LLC Takes Position in HCA Healthcare, Inc. $HCA

Key Points

• Pzena Investment Management acquired 96,598 shares of HCA Healthcare in the second quarter, valued at approximately $37.7 million. Institutional investors and hedge funds collectively own 62.73% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $465.59, despite several firms recently lowering their targets.
• HCA exceeded quarterly earnings and revenue expectations, reporting $7.59 in EPS and $20.23 billion in revenue, while announcing a quarterly dividend of $0.78 per share.

Pzena Investment Management LLC acquired a new stake in HCA Healthcare, Inc. (NYSE:HCA - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 96,598 shares of the company's stock, valued at approximately $37,663,000.

A number of other hedge funds have also modified their holdings of HCA. Palisade Asset Management LLC purchased a new position in shares of HCA Healthcare in the third quarter worth about $26,000. MidFirst Bank acquired a new stake in HCA Healthcare in the 2nd quarter valued at about $28,000. Clearstead Trust LLC acquired a new position in shares of HCA Healthcare during the 2nd quarter worth approximately $29,000. Ares Financial Consulting LLC purchased a new position in HCA Healthcare during the fourth quarter worth approximately $31,000. Finally, Cedar Mountain Advisors LLC acquired a new stake in shares of HCA Healthcare in the 1st quarter worth $33,000. 62.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on HCA. KeyCorp reduced their price target on shares of HCA Healthcare from $475.00 to $435.00 and set an "overweight" rating on the stock in a research note on Monday, July 27th. Weiss Ratings cut HCA Healthcare from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, June 9th. Raymond James Financial set a $528.00 target price on HCA Healthcare in a research report on Tuesday, July 7th. UBS Group cut their target price on shares of HCA Healthcare from $635.00 to $579.00 and set a "buy" rating on the stock in a research note on Monday, July 27th. Finally, Cantor Fitzgerald reduced their price objective on HCA Healthcare from $588.00 to $525.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 7th. Fourteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $465.59.

HCA Healthcare Trading Up 0.2%

Shares of NYSE:HCA opened at $405.53 on Tuesday. The firm has a 50 day simple moving average of $394.30 and a 200-day simple moving average of $445.90. The company has a market capitalization of $87.80 billion, a PE ratio of 13.58, a P/E/G ratio of 1.40 and a beta of 1.10. HCA Healthcare, Inc. has a twelve month low of $353.99 and a twelve month high of $556.52.

HCA Healthcare (NYSE:HCA - Get Free Report) last announced its quarterly earnings results on Friday, July 24th. The company reported $7.59 EPS for the quarter, topping the consensus estimate of $7.56 by $0.03. The firm had revenue of $20.23 billion for the quarter, compared to analyst estimates of $19.76 billion. HCA Healthcare had a net margin of 8.77% and a negative return on equity of 244.79%. HCA Healthcare's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the business earned $6.84 EPS. As a group, equities research analysts predict that HCA Healthcare, Inc. will post 29.47 EPS for the current fiscal year.

HCA Healthcare Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 0.8%. HCA Healthcare's dividend payout ratio is 10.45%.

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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