HCA Holdings (HCA) PT Raised to $300 at Raymond James

Raymond James analyst John Ransom raised the price target on HCA Holdings (NYSE: HCA) to $300.00 (from $290.00) while maintaining an Outperform rating.

The analyst commented, "We reiterate our Outperform rating on shares of HCA and raise our price target to $300 (+$10) following another strong quarter that led management to raise its full-year 2021 outlook. The better than expected 3Q results were driven by strong same-store revenue growth, up 15% y/ y, driven by +9.3% equivalent admissions growth and +5.2% revenue per equivalent admission growth. Additionally, inpatient surgery cases fell -11.2% vs. 2019 as volumes were constrained and capacity shifted to cater to increased COVID admissions, while outpatient volumes increased 0.6% vs. 2019. To be clear, we think the inpatient surgery lull is deferred – not lost – revenue."

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