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With a market cap of $103.61 billion, HCA Healthcare, Inc. (HCA) is a major healthcare services company headquartered in Nashville, Tennessee. The company operates a vast network of hospitals, urgent care centers, and outpatient facilities across the United States. It is known for its commitment to high-quality patient care; HCA Healthcare plays a crucial role in providing comprehensive healthcare services, including emergency care, surgery, and specialized treatment programs, to millions of patients annually.
HCA has significantly outperformed the broader market over the last year. The stock has gained 41.6% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 25.6%. In 2024, the stock has gained 46.2%, compared to SPX's 18.4% returns on a YTD basis.
Narrowing the focus, HCA also outperformed the SPDR S&P Health Care Services ETF (XHS). The exchange-traded fund has gained 11.2% on a YTD basis.
On Jul. 23, HCA Healthcare rose over 3% following its Q2 results, which featured a 10% year-over-year increase in Q2 revenue, and an upward revision in management's guidance for 2024 earnings and revenue.
For the current fiscal year, ending in December, analysts expect HCA’s EPS to grow 18.4% to $22.50 on a diluted basis. The company's earnings surprise history is mixed. It beat the consensus estimate in three of the last four quarters while missing the forecast on another occasion.
Among the 22 analysts covering HCA stock, the consensus rating is a “Strong Buy.” That’s based on 16 “Strong Buy” ratings, two “Moderate Buys,” and four “Holds.”
On Aug. 23, Ben Hendrix from RBC Capital maintained a “Buy” rating on HCA Healthcare, with a price target of $308, which indicates a 2.4% upside from the current levels.
The mean price target is $383.57, which indicates that the stock trades at a premium. The Street-high price target of $438 suggests an upside potential of 10.7%.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
