Oakmark Funds, an investment management company, released its “Oakmark Global Select Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. The fund generated a 12.9% return in the fourth quarter compared to a 9.8% return for the MSCI World Index. Also, it returned -22.5% for the calendar year 2022 compared to the -18.1% return for the MSCI World Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Oakmark Funds highlighted stocks like HCA Healthcare, Inc. (NYSE:HCA) in its Q4 2022 investor letter. Headquartered in Nashville, Tennessee, HCA Healthcare, Inc. (NYSE:HCA) is a US-based healthcare company. On January 9, 2023, HCA Healthcare, Inc. (NYSE:HCA) stock closed at $249.79 per share. One-month return of HCA Healthcare, Inc. (NYSE:HCA) was 2.75%, and its shares lost 0.22% of their value over the last 52 weeks. HCA Healthcare, Inc. (NYSE:HCA) has a market capitalization of $70.62 billion.
Oakmark Funds made the following comment about HCA Healthcare, Inc. (NYSE:HCA) in its Q4 2022 investor letter:
“HCA Healthcare, Inc. (NYSE:HCA), the largest operator of for-profit hospitals and related health care services in the U.S., was a top contributor for the quarter. HCA Healthcare reported third-quarter earnings that generally came in slightly above consensus estimates after removing various one-time items, and the company reiterated full-year guidance for 2022. The core business drivers are healthy, and management is executing well, in our view. Next year, the company will face around $500 million in headwinds to adjusted earnings from various non-recurring items, and volume growth looks like it will be around 1-2%, compared to the typical 2-3%, due to having to grow over this year’s higher Covid-19 volumes. We believe underlying volume trends are solid and that both acuity and payer mix are stable. Further, HCA is getting traction with payers on passing through price increases for inflation. Contract labor costs appear to be beginning to ease already, and we believe capacity constraints are likely to improve over the next couple of years. We believe these dynamics, coupled with the flow-through of higher pricing to reflect inflation, should provide tailwinds to adjusted earnings growth.”
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HCA Healthcare, Inc. (NYSE:HCA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 64 hedge fund portfolios held HCA Healthcare, Inc. (NYSE:HCA) at the end of the third quarter which was 63 in the previous quarter.
We discussed HCA Healthcare, Inc. (NYSE:HCA) in another article and shared Diamond Hill Capital’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
