HCA Healthcare Inc (NYSE:HCA) Shares Bought by State of Michigan Retirement System

State of Michigan Retirement System boosted its holdings in shares of HCA Healthcare Inc (NYSE:HCA) by 10.8% in the 2nd quarter, Holdings Channel reports. The firm owned 67,282 shares of the company’s stock after buying an additional 6,562 shares during the period. State of Michigan Retirement System’s holdings in HCA Healthcare were worth $6,530,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Wellington Management Group LLP grew its position in HCA Healthcare by 15.6% in the first quarter. Wellington Management Group LLP now owns 19,174,926 shares of the company’s stock worth $1,722,868,000 after buying an additional 2,593,238 shares during the last quarter. MFN Partners Management LP acquired a new stake in shares of HCA Healthcare during the first quarter worth $50,765,000. Franklin Resources Inc. lifted its holdings in shares of HCA Healthcare by 243.2% during the first quarter. Franklin Resources Inc. now owns 744,517 shares of the company’s stock valued at $66,897,000 after purchasing an additional 527,576 shares during the last quarter. Orbimed Advisors LLC boosted its position in shares of HCA Healthcare by 273.6% in the 1st quarter. Orbimed Advisors LLC now owns 709,800 shares of the company’s stock valued at $63,776,000 after purchasing an additional 519,800 shares during the period. Finally, AJO LP increased its stake in HCA Healthcare by 346.4% in the 1st quarter. AJO LP now owns 668,956 shares of the company’s stock worth $60,105,000 after purchasing an additional 519,099 shares in the last quarter. Hedge funds and other institutional investors own 68.68% of the company’s stock.

Shares of HCA Healthcare stock opened at $126.64 on Friday. The firm has a market cap of $42.76 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 1.09 and a beta of 1.30. The stock has a 50-day simple moving average of $103.78 and a 200-day simple moving average of $114.34. HCA Healthcare Inc has a 52-week low of $58.38 and a 52-week high of $151.97. The company has a debt-to-equity ratio of 54.19, a current ratio of 1.09 and a quick ratio of 0.95.

HCA Healthcare (NYSE:HCA) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $3.23 earnings per share for the quarter, beating the consensus estimate of ($0.94) by $4.17. The firm had revenue of $11.07 billion for the quarter, compared to analyst estimates of $10.44 billion. HCA Healthcare had a net margin of 6.67% and a negative return on equity of 589.47%. The company’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.21 earnings per share. As a group, equities research analysts predict that HCA Healthcare Inc will post 10.5 earnings per share for the current year.

In related news, insider Jon M. Foster sold 24,220 shares of HCA Healthcare stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $100.19, for a total value of $2,426,601.80. Following the completion of the sale, the insider now owns 49,212 shares of the company’s stock, valued at approximately $4,930,550.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.80% of the stock is currently owned by company insiders.

Several brokerages have commented on HCA. Citigroup raised their target price on shares of HCA Healthcare from $131.00 to $142.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Deutsche Bank raised their price objective on shares of HCA Healthcare from $132.00 to $150.00 in a research note on Thursday, July 23rd. Raymond James boosted their target price on shares of HCA Healthcare from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Piper Sandler raised their target price on HCA Healthcare from $132.00 to $138.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Finally, BMO Capital Markets lowered HCA Healthcare from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $121.00 to $100.00 in a research report on Monday, July 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $146.72.

HCA Healthcare Profile

HCA Healthcare, Inc, through its subsidiaries, provides health care services. The company operates general, acute care hospitals that offer medical and surgical services, including inpatient care, intensive care, cardiac care, diagnostic, and emergency services; and outpatient services, such as outpatient surgery, laboratory, radiology, respiratory therapy, cardiology, and physical therapy services.

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Institutional Ownership by Quarter for HCA Healthcare (NYSE:HCA)

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