Multiple Factors Supported HCA Healthcare (HCA) Stock in Q2

Diamond Hill Capital, an investment management company, released its “Large Cap Strategy” second-quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the strategy underperformed the Russell 1000 Index. With the revival of growth and technology stocks, the strategy’s underweight exposure to the sector was a headwind on the relative performance. Technology and communication services holdings of the strategy collectively performed well but did not keep pace with those in the index. It benefited from the strength of investments in the materials and consumer discretionary sectors. The strategy returned 6.04% (net) in the quarter compared to 8.58% for the index. In addition, you can check the top 5 holdings of the strategy to know its best picks in 2023.

Diamond Hill Large Cap Strategy highlighted stocks like HCA Healthcare, Inc. (NYSE:HCA) in the second quarter 2023 investor letter. Headquartered in Nashville, Tennessee, HCA Healthcare, Inc. (NYSE:HCA) is a healthcare services provider.  On September 14, 2023, HCA Healthcare, Inc. (NYSE:HCA) stock closed at $263.58 per share. One-month return of HCA Healthcare, Inc. (NYSE:HCA) was -2.03%, and its shares gained 25.71% of their value over the last 52 weeks. HCA Healthcare, Inc. (NYSE:HCA) has a market capitalization of $71.691 billion.

Diamond Hill Large Cap Strategy made the following comment about HCA Healthcare, Inc. (NYSE:HCA) in its Q2 2023 investor letter:

“Also among our leading contributors were software and IT services provider Microsoft and health care facilities operator HCA Healthcare, Inc. (NYSE:HCA). In addition to HCA reporting a strong first quarter, managed care companies have reported continued strong utilization, which further supported the stock’s performance.”


HCA Healthcare, Inc. (NYSE:HCA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 66 hedge fund portfolios held HCA Healthcare, Inc. (NYSE:HCA) at the end of second quarter which was 65 in the previous quarter.

We discussed HCA Healthcare, Inc. (NYSE:HCA) in another article and shared the list of oversold blue chip stocks to buy. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.

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