HCA Healthcare (NYSE:HCA) Releases Earnings Results, Beats Expectations By $0.03 EPS

HCA Healthcare (NYSE:HCA) released its quarterly earnings results on Friday. The company reported $7.59 earnings per share for the quarter, topping analysts’ consensus estimates of $7.56 by $0.03, Briefing.com reports. The business had revenue of $20.23 billion during the quarter, compared to analysts’ expectations of $19.76 billion. HCA Healthcare had a negative return on equity of 295.93% and a net margin of 8.89%.The company’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business posted $6.84 EPS.

Here are the key takeaways from HCA Healthcare’s conference call:

• HCA said the expiration of enhanced premium tax credits drove a bigger-than-expected payer mix shift, with exchange admissions down 15% and most of those patients moving almost one-for-one to uninsured.
• The company reported 11% diluted EPS growth in both the quarter and year to date, even as adjusted EBITDA was pressured by coverage losses and higher uncompensated care.
• Underlying demand remained solid, with ER visits up 3.6% and insured volumes excluding exchanges increasing, while HCA expects long-term demand growth of 2%-3% supported by population trends.
• Management highlighted over $7 billion of capital expenditures and continued network expansion, including new beds and outpatient facilities, as part of a strategy to grow capacity and market share.
• HCA updated full-year guidance to Adjusted EBITDA of $15.4 billion-$16.1 billion and said its resiliency program, cost discipline, and Medicaid supplemental payments should help offset some of the exchange headwind in the back half of 2026.

HCA Healthcare Price Performance

HCA opened at $382.28 on Friday. The stock’s 50 day simple moving average is $386.95 and its 200 day simple moving average is $453.73. HCA Healthcare has a 1-year low of $330.00 and a 1-year high of $556.52. The stock has a market cap of $84.80 billion, a P/E ratio of 13.15, a P/E/G ratio of 1.27 and a beta of 1.12.

Analysts Set New Price Targets

HCA has been the topic of a number of recent research reports. Raymond James Financial set a $528.00 target price on shares of HCA Healthcare in a research note on Tuesday, July 7th. Cantor Fitzgerald reduced their target price on shares of HCA Healthcare from $588.00 to $525.00 and set an “overweight” rating for the company in a report on Tuesday, July 7th. Sanford C. Bernstein reiterated a “market perform” rating on shares of HCA Healthcare in a research report on Wednesday, July 15th. Leerink Partners dropped their price target on shares of HCA Healthcare from $573.00 to $500.00 and set an “outperform” rating on the stock in a research note on Monday, April 27th. Finally, Oppenheimer cut their target price on HCA Healthcare from $540.00 to $520.00 and set an “outperform” rating for the company in a research note on Monday, April 27th. Fourteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $483.45.

Hedge Funds Weigh In On HCA Healthcare

Institutional investors have recently modified their holdings of the company. Sumitomo Life Insurance Co. boosted its position in HCA Healthcare by 1.0% during the fourth quarter. Sumitomo Life Insurance Co. now owns 2,026 shares of the company’s stock worth $946,000 after acquiring an additional 20 shares during the last quarter. One Capital Management LLC raised its position in shares of HCA Healthcare by 1.1% in the 3rd quarter. One Capital Management LLC now owns 2,250 shares of the company’s stock worth $959,000 after buying an additional 24 shares during the period. Great Lakes Advisors LLC raised its stake in shares of HCA Healthcare by 2.2% in the 4th quarter. Great Lakes Advisors LLC now owns 1,184 shares of the company’s stock valued at $553,000 after acquiring an additional 25 shares during the period. XTX Topco Ltd lifted its holdings in HCA Healthcare by 0.6% in the 4th quarter. XTX Topco Ltd now owns 4,712 shares of the company’s stock worth $2,200,000 after buying an additional 26 shares in the last quarter. Finally, Sivia Capital Partners LLC increased its stake in shares of HCA Healthcare by 5.5% in the second quarter. Sivia Capital Partners LLC now owns 630 shares of the company’s stock worth $241,000 after buying an additional 33 shares during the last quarter. Institutional investors and hedge funds own 62.73% of the company’s stock.

Key Stories Impacting HCA Healthcare

Here are the key news stories impacting HCA Healthcare this week:

• Positive Sentiment: HCA beat Q2 earnings estimates, reporting $7.59 per share versus expectations around $7.56-$7.57, while revenue rose 8.7% year over year to $20.23 billion and also topped estimates. HCA Healthcare earnings report
• Positive Sentiment: Management cited strong admissions and higher revenue per admission as key drivers of the quarter, suggesting healthy demand trends across its hospital network. Zacks article on HCA Q2 results
• Neutral Sentiment: HCA said its updated guidance is consistent with its earlier preview, so the quarter appears to confirm previously signaled results rather than deliver a major surprise. BusinessWire Q2 results
• Negative Sentiment: The company trimmed parts of its 2026 outlook, pointing to higher expenses and weaker surgical volumes as headwinds that could limit margin expansion. Zacks guidance revision article
• Negative Sentiment: Separate investor-law-firm investigations into HCA may add some legal overhang, though these notices are not operational results. Pomerantz investor alert

About HCA Healthcare

HCA Healthcare is a for?profit operator of healthcare facilities headquartered in Nashville, Tennessee. Founded in 1968, the company owns and operates a network of hospitals and related healthcare facilities and has grown through organic expansion and acquisitions to become a large provider of inpatient and outpatient services.

The company’s core activities include the operation of acute care hospitals, freestanding surgical and emergency centers, and outpatient clinics. HCA’s services encompass inpatient care, surgical services, emergency medicine, diagnostic imaging and laboratory testing, and various outpatient and ambulatory care offerings.