HCA Healthcare (NYSE:HCA) Announces Earnings Results, Beats Estimates By $0.94 EPS

Posted by Defense World Staff on Apr 24th, 2023

HCA Healthcare (NYSE:HCA – Get Rating) issued its quarterly earnings data on Friday. The company reported $4.93 EPS for the quarter, topping analysts’ consensus estimates of $3.99 by $0.94, RTT News reports. The company had revenue of $15.59 billion during the quarter, compared to the consensus estimate of $15.26 billion. HCA Healthcare had a net margin of 9.37% and a negative return on equity of 1,260.96%. HCA Healthcare’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.12 earnings per share. HCA Healthcare updated its FY23 guidance to $17.25-18.55 EPS.

HCA Healthcare Stock Up 3.9 %

HCA opened at $281.21 on Monday. HCA Healthcare has a twelve month low of $164.47 and a twelve month high of $294.02. The company has a market cap of $77.89 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 2.01 and a beta of 1.64. The company has a 50-day moving average price of $258.88 and a 200 day moving average price of $243.46.

HCA Healthcare Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, June 15th. This represents a $2.40 annualized dividend and a dividend yield of 0.85%. HCA Healthcare’s dividend payout ratio (DPR) is presently 12.04%.

HCA Healthcare declared that its board has authorized a stock repurchase program on Friday, January 27th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 4.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

HCA has been the topic of several analyst reports. Citigroup lifted their price target on shares of HCA Healthcare from $280.00 to $293.00 and gave the stock a “buy” rating in a report on Monday, January 30th. StockNews.com raised shares of HCA Healthcare from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 5th. The Goldman Sachs Group boosted their price objective on shares of HCA Healthcare from $265.00 to $296.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. Cantor Fitzgerald initiated coverage on shares of HCA Healthcare in a report on Thursday. They set an “overweight” rating and a $304.00 price objective on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $283.00 price objective on shares of HCA Healthcare in a report on Thursday, March 16th. One analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $272.87.

Insider Activity at HCA Healthcare

In related news, SVP Kathleen M. Whalen sold 1,734 shares of the company’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $263.61, for a total transaction of $457,099.74. Following the completion of the sale, the senior vice president now owns 9,962 shares of the company’s stock, valued at approximately $2,626,082.82. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Kathleen M. Whalen sold 1,734 shares of the company’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $263.61, for a total transaction of $457,099.74. Following the completion of the sale, the senior vice president now owns 9,962 shares of the company’s stock, valued at approximately $2,626,082.82. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Timothy M. Mcmanus sold 7,900 shares of the stock in a transaction that occurred on Monday, January 30th. The shares were sold at an average price of $254.06, for a total transaction of $2,007,074.00. Following the completion of the sale, the insider now directly owns 13,987 shares of the company’s stock, valued at approximately $3,553,537.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 88,159 shares of company stock valued at $22,688,959. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On HCA Healthcare

Hedge funds have recently made changes to their positions in the stock. Covestor Ltd boosted its position in shares of HCA Healthcare by 122.7% during the 1st quarter. Covestor Ltd now owns 167 shares of the company’s stock worth $42,000 after purchasing an additional 92 shares during the period. Fortis Capital Advisors LLC purchased a new position in shares of HCA Healthcare during the 4th quarter worth approximately $48,000. Resurgent Financial Advisors LLC acquired a new stake in HCA Healthcare during the 4th quarter worth approximately $105,000. E Fund Management Co. Ltd. acquired a new stake in HCA Healthcare during the 4th quarter worth approximately $207,000. Finally, Enlightenment Research LLC acquired a new stake in HCA Healthcare during the 1st quarter worth approximately $226,000. Hedge funds and other institutional investors own 64.60% of the company’s stock.

HCA Healthcare Company Profile

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HCA Healthcare, Inc is a health care services company engaged in operating hospitals, freestanding surgery centers and emergency care facilities, urgent care facilities, walk-in clinics, diagnostic and imaging centers, radiation and oncology therapy centers, comprehensive rehabilitation and physical therapy centers, physician practices, home health, hospice, outpatient physical therapy home and community-based services providers, and various other facilities.