Oppenheimer Has Lowered Expectations for HCA Healthcare (NYSE:HCA) Stock Price

Key Points

• Oppenheimer lowered its HCA Healthcare price target from $520 to $485 while maintaining an “outperform” rating, implying approximately 26.3% upside from the stock’s $384 price.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $477.14, despite several firms recently reducing their targets.
• HCA reported quarterly revenue of $20.23 billion, up 8.7% year over year, and adjusted earnings of $7.59 per share, slightly exceeding analysts’ expectations.

HCA Healthcare (NYSE:HCA - Get Free Report) had its price objective lowered by equities researchers at Oppenheimer from $520.00 to $485.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Oppenheimer's target price indicates a potential upside of 26.30% from the stock's current price.

Other equities analysts have also issued research reports about the company. Weiss Ratings lowered HCA Healthcare from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, June 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on HCA Healthcare from $558.00 to $540.00 and set a "buy" rating for the company in a research note on Tuesday, April 28th. Cantor Fitzgerald dropped their target price on HCA Healthcare from $588.00 to $525.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 7th. KeyCorp reduced their price target on shares of HCA Healthcare from $475.00 to $435.00 and set an "overweight" rating for the company in a research report on Monday. Finally, TD Cowen cut their price objective on shares of HCA Healthcare from $500.00 to $431.00 and set a "buy" rating on the stock in a research note on Monday, June 22nd. Fourteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, HCA Healthcare currently has an average rating of "Moderate Buy" and a consensus price target of $477.14.

HCA Healthcare Stock Up 0.5%

Shares of HCA Healthcare stock opened at $384.00 on Monday. The firm has a market capitalization of $85.19 billion, a P/E ratio of 12.86, a PEG ratio of 1.29 and a beta of 1.12. HCA Healthcare has a 52 week low of $331.61 and a 52 week high of $556.52. The company has a 50 day moving average price of $386.95 and a 200 day moving average price of $453.56.

HCA Healthcare (NYSE:HCA - Get Free Report) last issued its quarterly earnings results on Friday, July 24th. The company reported $7.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $19.76 billion. During the same quarter in the prior year, the business posted $6.84 EPS. HCA Healthcare's revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, research analysts anticipate that HCA Healthcare will post 29.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On HCA Healthcare

Hedge funds have recently bought and sold shares of the business. Ballast Inc. purchased a new stake in shares of HCA Healthcare in the second quarter valued at approximately $296,000. Wedge Capital Management L L P NC grew its stake in HCA Healthcare by 21.7% in the 2nd quarter. Wedge Capital Management L L P NC now owns 81,008 shares of the company's stock valued at $31,584,000 after acquiring an additional 14,468 shares during the period. Tema ETFs LLC raised its position in HCA Healthcare by 8.7% during the second quarter. Tema ETFs LLC now owns 3,622 shares of the company's stock worth $1,412,000 after acquiring an additional 290 shares during the period. Financial Management Professionals Inc. grew its position in shares of HCA Healthcare by 108.6% in the second quarter. Financial Management Professionals Inc. now owns 363 shares of the company's stock valued at $142,000 after purchasing an additional 189 shares during the period. Finally, Deane Retirement Strategies Inc. acquired a new position in shares of HCA Healthcare during the 2nd quarter worth about $4,796,000. Hedge funds and other institutional investors own 62.73% of the company's stock.

HCA Healthcare Company 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.