HCA Healthcare (NYSE:HCA) Releases Q2 2026 Earnings Guidance

HCA Healthcare (NYSE:HCA) updated its second quarter 2026 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 7.590-7.590 for the period, compared to the consensus EPS estimate of 7.410. The company issued revenue guidance of $20.2 billion-$20.2 billion, compared to the consensus revenue estimate of $19.4 billion. HCA Healthcare also updated its FY 2026 guidance to 28.700-30.500 EPS.

HCA Healthcare Stock Performance

NYSE:HCA opened at $364.46 on Wednesday. The firm’s 50-day moving average is $395.39 and its 200-day moving average is $458.95. HCA Healthcare has a 52-week low of $330.00 and a 52-week high of $556.52. The company has a market cap of $80.85 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 1.24 and a beta of 1.12.

HCA Healthcare (NYSE:HCA) last issued its earnings results on Friday, April 24th. The company reported $7.15 EPS for the quarter, missing analysts’ consensus estimates of $7.19 by ($0.04). HCA Healthcare had a net margin of 8.89% and a negative return on equity of 295.93%. The firm had revenue of $19.11 billion during the quarter, compared to analyst estimates of $19.09 billion. During the same quarter in the previous year, the company posted $6.45 earnings per share. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. HCA Healthcare has set its FY 2026 guidance at 29.100-31.500 EPS. Equities analysts predict that HCA Healthcare will post 30.07 EPS for the current year.

HCA Healthcare Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were issued a $0.78 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 0.9%. HCA Healthcare’s dividend payout ratio is presently 10.73%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on HCA. Stephens lowered their price target on HCA Healthcare from $560.00 to $530.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. TD Cowen decreased their price objective on shares of HCA Healthcare from $500.00 to $431.00 and set a “buy” rating on the stock in a research note on Monday, June 22nd. Sanford C. Bernstein reduced their target price on HCA Healthcare from $503.00 to $413.00 and set a “market perform” rating on the stock in a report on Thursday, June 4th. Barclays lowered HCA Healthcare from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $496.00 to $427.00 in a research note on Wednesday, July 8th. Finally, Raymond James Financial set a $528.00 price target on shares of HCA Healthcare in a research report on Tuesday, July 7th. Fourteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $491.77.

Key Headlines Impacting HCA Healthcare

Here are the key news stories impacting HCA Healthcare this week:

• Positive Sentiment: HCA’s preliminary second-quarter revenue came in above Wall Street expectations, showing that patient volumes and top-line demand remain solid. HCA reports preliminary quarterly revenue above expectations
• Positive Sentiment: KeyCorp and Wells Fargo kept constructive ratings on HCA, with price targets implying upside from current levels, suggesting some analysts still see long-term value despite near-term headwinds.
• Neutral Sentiment: An upgrade on Seeking Alpha argued the stock already reflects much of the bad news, citing a large one-time Medicaid payment that boosted Q2 results and a free-cash-flow run rate near $6 billion.
• Negative Sentiment: HCA cut its 2026 earnings guidance to about $28.70-$30.50 per share, below prior expectations, as payer mix worsened and more patients shifted to uninsured or lower-paying coverage. HCA drops after lowering annual earnings outlook on payer mix headwinds
• Negative Sentiment: Management warned that treating more uninsured patients could trim roughly $1 billion from profits, while federal policy changes and declining surgeries are adding margin pressure. Hospital chain HCA warns of lower profits as more patients go uninsured
• Negative Sentiment: Several reports noted that HCA’s quarterly earnings were squeezed by payer-mix shifts tied to health insurance exchanges, reinforcing concerns that profitability could stay under pressure. HCA Healthcare Shares Drop After Quarterly Earnings Squeezed by Payer Mix Shifts

Institutional Trading of HCA Healthcare

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sumitomo Life Insurance Co. increased its position in shares of HCA Healthcare by 1.0% during the fourth quarter. Sumitomo Life Insurance Co. now owns 2,026 shares of the company’s stock worth $946,000 after acquiring an additional 20 shares during the period. One Capital Management LLC boosted its stake in shares of HCA Healthcare by 1.1% in the 3rd quarter. One Capital Management LLC now owns 2,250 shares of the company’s stock valued at $959,000 after buying an additional 24 shares during the period. Great Lakes Advisors LLC lifted its stake in HCA Healthcare by 2.2% in the fourth quarter. Great Lakes Advisors LLC now owns 1,184 shares of the company’s stock worth $553,000 after acquiring an additional 25 shares during the last quarter. XTX Topco Ltd raised its holdings in shares of HCA Healthcare by 0.6% in the 4th quarter. XTX Topco Ltd now owns 4,712 shares of the company’s stock valued at $2,200,000 after purchasing an additional 26 shares in the last quarter. Finally, Sivia Capital Partners LLC raised its stake in HCA Healthcare by 5.5% in the second quarter. Sivia Capital Partners LLC now owns 630 shares of the company’s stock valued at $241,000 after buying an additional 33 shares in the last quarter. 62.73% of the stock is owned by institutional investors.

About HCA Healthcare

HCA Healthcare is a for‑profit operator of healthcare facilities headquartered in Nashville, Tennessee. Founded in 1968, the company owns and operates a network of hospitals and related healthcare facilities and has grown through organic expansion and acquisitions to become a large provider of inpatient and outpatient services.

The company’s core activities include the operation of acute care hospitals, freestanding surgical and emergency centers, and outpatient clinics. HCA’s services encompass inpatient care, surgical services, emergency medicine, diagnostic imaging and laboratory testing, and various outpatient and ambulatory care offerings.