HCA Holdings, Inc. (HCA) Coverage Initiated at Credit Suisse Group AG
Credit Suisse Group AG began coverage on shares of HCA Holdings, Inc. (NYSE:HCA) in a research report issued on Thursday. The brokerage set an “outperform” rating and a $95.00 price target on the stock. Credit Suisse Group AG’s target price would indicate a potential upside of 25.58% from the company’s previous close.
Several other equities analysts also recently weighed in on the stock. ValuEngine downgraded shares of HCA Holdings from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. Zacks Investment Research downgraded shares of HCA Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. KeyCorp reaffirmed a “buy” rating and set a $95.00 price target on shares of HCA Holdings in a report on Thursday, September 7th. BidaskClub downgraded shares of HCA Holdings from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Finally, Bank of America Corporation downgraded shares of HCA Holdings from a “buy” rating to a “neutral” rating and lowered their price target for the company from $102.00 to $92.00 in a report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $90.24.
HCA Holdings (NYSE:HCA) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $1.21 earnings per share for the quarter, meeting the consensus estimate of $1.21. HCA Holdings had a net margin of 6.13% and a negative return on equity of 47.16%. The business had revenue of $10.70 billion for the quarter, compared to the consensus estimate of $10.70 billion. During the same quarter in the previous year, the firm earned $1.45 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis.
HCA Holdings announced that its board has initiated a share buyback plan on Tuesday, October 31st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
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In related news, insider Michael S. Cuffe sold 2,150 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $79.87, for a total transaction of $171,720.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 6,450 shares of company stock worth $511,163. 2.90% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio raised its stake in HCA Holdings by 12.2% during the third quarter. Strs Ohio now owns 1,075,778 shares of the company’s stock valued at $85,621,000 after purchasing an additional 117,000 shares in the last quarter. Accident Compensation Corp raised its stake in HCA Holdings by 4.8% during the second quarter. Accident Compensation Corp now owns 43,793 shares of the company’s stock valued at $3,819,000 after purchasing an additional 2,000 shares in the last quarter. Delta Lloyd Asset Management N.V. purchased a new stake in HCA Holdings during the second quarter valued at $3,823,000. Northwestern Mutual Investment Management Company LLC raised its stake in HCA Holdings by 1,229.5% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 775,914 shares of the company’s stock valued at $59,753,000 after purchasing an additional 717,551 shares in the last quarter. Finally, CIBC World Markets Inc. raised its stake in HCA Holdings by 20.2% during the second quarter. CIBC World Markets Inc. now owns 279,121 shares of the company’s stock valued at $24,339,000 after purchasing an additional 46,953 shares in the last quarter. 74.65% of the stock is currently owned by 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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