Factors that Lifted HCA Healthcare (HCA) in Q3

Delaware Funds by Macquarie, an investment management company, released its “Delaware Ivy Core Equity Fund” Q3 2024 investor letter. A copy of the letter can be downloaded here. The S&P 500® Index rose 5.9% in the third quarter, indicating continuing gains in the US large-cap equity market. Delaware Ivy Core Equity Fund Class I shares outperformed the Fund’s benchmark, the S&P 500 Index in the third quarter. Stock selection drove all of the relative outperformance compared with the Fund’s benchmark, while sector allocation was neutral to relative performance. In addition, please check the fund’s top five holdings to know its best picks in 2024.

Delaware Ivy Core Equity Fund highlighted stocks like HCA Healthcare, Inc. (NYSE:HCA) in the third quarter 2024 investor letter. HCA Healthcare, Inc. (NYSE:HCA) owns and operates hospitals and related healthcare entities. The one-month return of HCA Healthcare, Inc. (NYSE:HCA) was -7.48%, and its shares gained 11.85% of their value over the last 52 weeks. On December 26, 2024, HCA Healthcare, Inc. (NYSE:HCA) stock closed at $302.76 per share with a market capitalization of $76.688 billion.

Delaware Ivy Core Equity Fund stated the following regarding HCA Healthcare, Inc. (NYSE:HCA) in its Q3 2024 investor letter:

HCA Healthcare, Inc. (NYSE:HCA) – While long-term growth trends favor the healthcare sector, HCA is also benefiting from a short-term surge in healthcare utilization, likely the consequence of consumers catching up on care that was deferred during the pandemic. Growth in the insured population through healthcare exchanges also appears to be a more secular driver of increased demand.”

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HCA Healthcare, Inc. (NYSE:HCA) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 66 hedge fund portfolios held HCA Healthcare, Inc. (NYSE:HCA) at the end of the third quarter which was 69 in the previous quarter. While we acknowledge the potential of HCA Healthcare, Inc. (NYSE:HCA) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

In another article, we discussed HCA Healthcare, Inc. (NYSE:HCA) and shared the list of Diamond Hill Capital’s top stock picks. HCA Healthcare, Inc. (NYSE:HCA) was one of the top contributors to Diamond Hill Large Cap Strategy’s performance in Q3 2024. In addition, please check out our hedge fund investor letters Q3 2024 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.