The Fjarde AP Fonden Fourth Swedish National Pension Fund has increased its investment in HCA Healthcare, Inc. (NYSE:HCA) by 13.9% during the third quarter of 2023, according to the latest 13F filing with the U.S. Securities and Exchange Commission. The fund now holds 45,769 shares of HCA stock, valued at approximately $19.51 million after acquiring an additional 5,600 shares during the quarter.
Other institutional investors have also adjusted their positions in HCA Healthcare. For instance, Park Place Capital Corp increased its holdings by an astonishing 2,336% in the second quarter, bringing its total to 1,218 shares valued at $474,000. Similarly, Cerity Partners LLC raised its investment by 13.1% in the third quarter, now owning 43,920 shares worth $18.72 million.
The Swiss National Bank also grew its stake by 4.3% during the second quarter, accumulating 558,900 shares valued at $214.12 million. Meanwhile, Cherokee Insurance Co. entered the market with a new stake valued at around $3.87 million in the same quarter, and Harrell Investment Partners LLC raised its position by 176.3% during this period.
Currently, hedge funds and other institutional investors collectively hold 62.73% of HCA Healthcare’s stock.
Analysts Upgrade Ratings and Price Targets
Several research analysts have recently issued new ratings and price targets for HCA Healthcare. On October 25, 2023, Wall Street Zen upgraded the stock from a “buy” rating to a “strong-buy” rating. Following this, KeyCorp raised its price target from $465.00 to $475.00, giving the stock an “overweight” rating on October 27, 2023. TD Cowen also increased its price objective from $380.00 to $490.00.
The consensus rating for HCA Healthcare among analysts is currently “Moderate Buy,” with an average target price of $487.00. Out of the analysts, fifteen have rated the stock as a Buy, while nine issued a Hold rating and one assigned a Sell rating.
Recent Developments and Financial Performance
HCA Healthcare’s shares opened at $469.08 on October 27, 2023. The company has a market capitalization of $107.04 billion, a price-to-earnings (P/E) ratio of 18.13, and a price-to-earnings-growth (PEG) ratio of 1.33. Over the past year, the stock has fluctuated, with a low of $295.00 and a high of $520.00.
In its most recent earnings report, released on October 24, 2023, HCA Healthcare reported earnings per share (EPS) of $6.96, surpassing analysts’ expectations of $5.64 by $1.32. The company generated $19.16 billion in revenue for the quarter, exceeding the forecast of $18.55 billion and showing a year-over-year revenue growth of 9.6%.
HCA has set guidance for fiscal year 2025, projecting EPS between $27.00 and $28.00. Analysts anticipate an EPS of $24.98 for the current year.
The company also declared a quarterly dividend of $0.72, which was paid on December 29, 2023. Shareholders on record as of December 15, 2023 received this dividend, signifying an annualized dividend yield of 0.6%.
In other news, Michael R. Mcalevey, an executive vice president, sold 3,892 shares at an average price of $473.79 on November 5, 2023. Following this transaction, Mcalevey now owns 3,487 shares valued at approximately $1.65 million.
Founded in 1968 and headquartered in Nashville, Tennessee, HCA Healthcare operates a vast network of healthcare facilities, including hospitals and outpatient services. The company has expanded significantly through both organic growth and acquisitions, becoming a key player in the healthcare sector.