Is HCA Healthcare (HCA) A Stock Worth Investing?

First Eagle Investment Management, an investment management firm, published its third-quarter 2021 investor letter – a copy of which can be downloaded here. A net return of -1.93% was delivered by its Global Fund for the third quarter of 2021. The Global Fund underperformed the MSCI World Index in the period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

First Eagle Investment Management, in its Q3 2021 investor letter, mentioned HCA Healthcare, Inc. (NYSE: HCA) and discussed its stance on the firm. HCA Healthcare, Inc. is a Nashville, Tennessee-based healthcare company with a $74.5 billion market capitalization. HCA delivered a 45.84% return since the beginning of the year, while its 12-month returns are up by 56.13%. The stock closed at $239.85 per share on November 25, 2021.

Here is what First Eagle Investment Management has to say about HCA Healthcare, Inc.  in its Q3 2021 investor letter:

“HCA Healthcare owns and operates 185 hospitals and approximately 2,000 sites of care in the US and UK. Admissions to its facilities, depressed during the worst of the Covid-19 outbreak in 2020, have begun to rebound. HCA reported a nearly 20% year-over-year increase in admissions during the second quarter and a 14% increase in revenue, and forecast that volume would continue to improve throughout the year. We maintain our positive opinion of the company’s management team, believing them to be effective stewards of both the balance sheet and HCA’s business operations.”

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Based on our calculations, HCA Healthcare, Inc. (NYSE: HCA) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. HCA was in 72 hedge fund portfolios at the end of the third quarter of 2021, compared to 60 funds in the previous quarter. (HCA Healthcare, Inc. (NYSE: HCA) delivered a -4.86% return in the past 3 months.

Disclosure: None. This article is originally published at Insider Monkey.