5 Biggest Losers This Week

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

Number of Hedge Fund Holders: 63

Shares of HCA Healthcare, Inc. (NYSE:HCA) tumbled nearly nine percent this week. Much of that drop came on Friday, October 21, after the healthcare facilities operator posted lower-than-expected sales for the third quarter.

HCA Healthcare, Inc. (NYSE:HCA) generated revenue of $14.97 billion in the quarter, marginally below the consensus of $15 billion. On the bright side, its adjusted earnings of $3.93 per share surpassed the expectations of $3.88 per share.

Moreover, HCA Healthcare, Inc. (NYSE:HCA) reaffirmed its profit outlook for the full year despite weak Q3 sales and macroeconomic challenges. It continues to expect adjusted earnings in the range of $16.40 – $17.60 per share for the year.

Separately, HCA Healthcare, Inc. (NYSE:HCA) appeared in the second-quarter 2022 investor letter of investment advisor Diamond Hill Capital Management. Here’s what the firm said:

“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.”