David Tepper Initiated Buying These 5 Stocks for the Rest of 2022

In this article, we discuss the 5 stocks David Tepper is buying for the rest of 2022. To read the details of David Tepper’s life, achievements, investment philosophy, and information about Appaloosa Management, go directly to David Tepper Initiated Buying These 10 Stocks for the Rest of 2022.

5. HCA Healthcare, Inc. (NYSE:HCA)

Number of Hedge Fund Holders: 63

HCA Healthcare, Inc. (NYSE:HCA) is an American healthcare facilities company. The company operates over 180 hospitals and 2,000 sites of care across the U.K and the USA. On July 22, the company declared a $0.56 quarterly dividend, payable on September 30 to the shareholders of record on September 16.

Compared to other similar businesses, HCA Healthcare, Inc. (NYSE:HCA) has shown consistent growth in the past. Since 2010, the company has reported revenue growth of approximately 7% and an EBITDA growth of 8%. The company has also actively focused on shareholder returns, repurchasing over 150 million shares since 2013. The growth is mainly owed to its high ROIC, which stands at around 20% at the time of writing.

According to Insider Monkey’s Q2 database, 62 hedge funds had a stake in HCA Healthcare, Inc. (NYSE:HCA). The most significant stake was owned by Harris Associates, with over 7.7 million shares valued at $1.3 billion. Appaloosa Management added the company to its portfolio with 75,000 shares in Q2 2022 worth $12.605 million, representing 0.79% of the fund’s portfolio.

Here is what First Eagle Investments had to say about HCA Healthcare, Inc. (NYSE:HCA) in its Q2 2022 investor letter:

“HCA Healthcare owns and operates 182 hospitals and approximately 2,300 ambulatory sites of care in the US and UK. Although admission volumes have recently increased, the company lowered its sales and earnings guidance for 2022 due to concerns about rising labor costs.

The ongoing shortage of healthcare workers in general, and nurses in particular, has forced operators like HCA to fill many roles with temporary contract employees, which is more expensive than hiring full-time workers. We believe these disruptions are temporary, and we maintain our positive opinion on the ability of HCA’s management to be effective stewards of both the balance sheet and business operations.”