HCA Holdings, Inc. (NYSE:HCA) Shares Gap Down on Disappointing Earnings
HCA Holdings, Inc. (NYSE:HCA) gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $89.58, but opened at $86.09. HCA Holdings shares last traded at $82.18, with a volume of 4,952,332 shares traded.
The company reported $1.75 EPS for the quarter, missing the Zacks’ consensus estimate of $1.80 by $0.05. The company had revenue of $10.73 billion for the quarter, compared to the consensus estimate of $10.76 billion. HCA Holdings had a negative return on equity of 45.28% and a net margin of 6.70%. HCA Holdings’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.66 earnings per share.
Several research analysts have recently issued reports on the company. Citigroup Inc. decreased their price target on HCA Holdings from $89.00 to $87.00 and set a “neutral” rating for the company in a research note on Wednesday. Morgan Stanley reissued an “equal weight” rating and issued a $88.00 price target (down previously from $90.00) on shares of HCA Holdings in a research note on Wednesday. Bank of America Corporation cut HCA Holdings from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $102.00 to $92.00 in a research note on Wednesday. BidaskClub cut HCA Holdings from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Zacks Investment Research raised HCA Holdings from a “hold” rating to a “buy” rating and set a $97.00 price target for the company in a research note on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $92.67.
In related news, major shareholder Thomas F. Frist, Jr. bought 361,205 shares of HCA Holdings stock in a transaction dated Friday, May 5th. The stock was acquired at an average cost of $83.06 per share, with a total value of $30,001,687.30. Following the completion of the acquisition, the insider now directly owns 167,000 shares in the company, valued at approximately $13,871,020. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Robert A. Waterman sold 246,000 shares of the company’s stock in a transaction on Friday, May 5th. The shares were sold at an average price of $83.12, for a total value of $20,447,520.00. Following the sale, the senior vice president now directly owns 392,252 shares of the company’s stock, valued at $32,603,986.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 397,424 shares of company stock valued at $33,234,810. 2.90% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. IFP Advisors Inc increased its stake in shares of HCA Holdings by 9.4% in the first quarter. IFP Advisors Inc now owns 1,605 shares of the company’s stock valued at $143,000 after buying an additional 138 shares in the last quarter. Global X Management Co. LLC increased its stake in shares of HCA Holdings by 29.9% in the first quarter. Global X Management Co. LLC now owns 2,162 shares of the company’s stock valued at $192,000 after buying an additional 498 shares in the last quarter. Peak Asset Management LLC bought a new stake in shares of HCA Holdings during the first quarter valued at approximately $201,000. Ifrah Financial Services Inc. bought a new stake in shares of HCA Holdings during the first quarter valued at approximately $210,000. Finally, Checchi Capital Advisers LLC bought a new stake in shares of HCA Holdings during the first quarter valued at approximately $213,000. 74.48% of the stock is owned by institutional investors and hedge funds.
The company has a market capitalization of $29.95 billion, a price-to-earnings ratio of 11.09 and a beta of 0.69. The company’s 50 day moving average is $85.32 and its 200 day moving average is $84.43.
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HCA Holdings Company Profile
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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