5 Best High Beta Stocks To Buy Now

3. HCA Healthcare, Inc. (NYSE:HCA)

Number of Hedge Fund Holders: 63

Beta Value: 1.70

HCA Healthcare, Inc. (NYSE:HCA) is one of the best high beta stocks to consider. It is a Tennessee-based health care services company in the United States. HCA Healthcare, Inc. (NYSE:HCA) operates general and acute care hospitals, providing inpatient care, intensive care, cardiac care, emergency services, and outpatient services. On September 16, Raymond James analyst John Ransom raised the price target on HCA Healthcare, Inc. (NYSE:HCA to $250 from $230 and maintained an Outperform rating on the shares. The catalyst for the updated view is a more detailed analysis of labor trends and an analytical framework based on Q2 2022, a decent quarter with only $25 million of additional COVID support payments, which the analyst assumes will stop in 2023.

Among the hedge funds tracked by Insider Monkey, HCA Healthcare, Inc. (NYSE:HCA was part of 64 public stock portfolios at the end of Q2 2022, compared to 62 funds in the prior quarter. Harris Associates is the largest stakeholder of the company, with 7.75 million shares worth $1.30 billion. 

Here is what Diamond Hill Capital Management specifically said about HCA Healthcare, Inc. (NYSE:HCA) in its Q2 2022 investor letter:

“HCA Healthcare, Inc. (NYSE:HCA) is a best-in-class operator of acute care hospitals and other health care facilities, including outpatient surgery centers. It has a strong market presence in highly attractive geographies with growing populations and low unemployment, such as Texas and Florida, which leads to a favorable payor mix. We are further attracted to its strong management team that has a stellar track record of deploying capital, and the founding family continues to own almost a quarter of the business. We initiated a position after HCA reported Q1 earnings — it reduced full year guidance due to increased labor costs and lower-than-expected acuity among COVID admissions, dampening near-term investor sentiment.”