Yahoo Finance The Zacks Rank Explained: How to Find Strong Buy Medical Stocks
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Should You Buy #1 (Strong Buy)-Ranked HCA Healthcare (HCA) for Your Portfolio?
HCA Healthcare was upgraded to the Zacks Rank #1 list on February 6, 2024. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
Effective May 8, 2017, the company’s name was changed to HCA Healthcare, Inc. from HCA Holdings, Inc. It is the largest non-governmental operator of acute care hospitals in the US. Headquartered in Nashville, TN, it operates hospitals and related health care entities.
For fiscal 2024, 10 analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.95 to $20.49 per share. HCA boasts an average earnings surprise of 9.8%.
Earnings are expected to grow 7.8% for the current fiscal year, while revenue is projected to increase 6.2%.
HCA has been moving higher over the past four weeks as well, up 6.3% compared to the S&P 500's gain of 3.6%.
Bottom Line
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, HCA Healthcare could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.
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