HCA Holdings, Inc. (NYSE:HCA) Cut to Neutral at Bank of America Corporation
HCA Holdings, Inc. (NYSE:HCA) was downgraded by equities research analysts at Bank of America Corporation from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday, The Fly reports.
A number of other equities research analysts have also recently weighed in on HCA. BidaskClub cut HCA Holdings from a “hold” rating to a “sell” rating in a research note on Monday. Zacks Investment Research upgraded HCA Holdings from a “hold” rating to a “buy” rating and set a $97.00 price target on the stock in a research note on Thursday, July 13th. Leerink Swann upgraded HCA Holdings from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $92.00 to $100.00 in a research report on Tuesday, June 6th. Morgan Stanley assumed coverage on HCA Holdings in a research report on Tuesday, June 6th. They set an “equal weight” rating and a $90.00 price objective on the stock. Finally, Argus assumed coverage on HCA Holdings in a research report on Wednesday, June 28th. They set a “buy” rating and a $100.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $92.71.
HCA Holdings (NYSE HCA) opened at 82.18 on Wednesday. The company has a market cap of $30.15 billion, a price-to-earnings ratio of 11.17 and a beta of 0.69. The company’s 50-day moving average is $85.35 and its 200-day moving average is $84.41. HCA Holdings has a 12 month low of $67.00 and a 12 month high of $91.03.
HCA Holdings (NYSE:HCA) last posted its quarterly earnings results on Tuesday, July 25th. The company reported $1.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.80 by $0.05. HCA Holdings had a net margin of 6.70% and a negative return on equity of 45.28%. The business had revenue of $10.73 billion during the quarter, compared to the consensus estimate of $10.76 billion. During the same quarter last year, the company posted $1.66 EPS. The firm’s revenue was up 4.0% on a year-over-year basis. On average, equities research analysts anticipate that HCA Holdings will post $7.36 earnings per share for the current year.
In other news, SVP Jana Joustra Davis sold 8,302 shares of HCA Holdings stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $85.02, for a total transaction of $705,836.04. Following the sale, the senior vice president now directly owns 36,589 shares of the company’s stock, valued at $3,110,796.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael S. Cuffe sold 2,150 shares of HCA Holdings stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $86.44, for a total value of $185,846.00. Following the sale, the insider now directly owns 12,363 shares in the company, valued at $1,068,657.72. The disclosure for this sale can be found here. Insiders have sold 397,424 shares of company stock worth $33,234,810 over the last three months. Insiders own 2.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in HCA. BlackRock Inc. raised its stake in shares of HCA Holdings by 2,549.4% in the first quarter. BlackRock Inc. now owns 20,099,811 shares of the company’s stock worth $1,788,682,000 after buying an additional 19,341,168 shares during the last quarter. Magellan Asset Management Ltd bought a new position in shares of HCA Holdings during the second quarter worth about $489,097,000. Harris Associates L P increased its position in shares of HCA Holdings by 651.7% in the third quarter. Harris Associates L P now owns 5,086,931 shares of the company’s stock worth $384,724,000 after buying an additional 4,410,239 shares during the period. Fir Tree Inc. increased its position in shares of HCA Holdings by 228.9% in the fourth quarter. Fir Tree Inc. now owns 4,845,217 shares of the company’s stock worth $327,682,000 after buying an additional 3,371,862 shares during the period. Finally, Norges Bank bought a new position in shares of HCA Holdings during the fourth quarter worth about $234,371,000. 74.48% of the stock is currently owned by hedge funds and other institutional investors.
About HCA Holdings
HCA Healthcare, Inc, formerly HCA Holdings, Inc, is a holding company. The Company, through its subsidiaries, owns and operates hospitals and related healthcare entities. As of December 31, 2016, the Company operated in two geographically organized groups, including the National and American Groups. As of December 31, 2016, the National Group included 84 hospitals, which were located in Alaska, California, Florida, southern Georgia, Idaho, Indiana, northern Kentucky, Nevada, New Hampshire, South Carolina, Utah and Virginia.
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