HCA Healthcare (NYSE: HCA) stands as the largest operator of acute-care hospitals in the United States. Based in Nashville, this prominent healthcare provider's extensive network includes 190 hospitals and over 2,500 outpatient facilities as of December 2025. HCA Healthcare is dedicated to providing a wide range of essential medical services to communities across the country.
On April 24, 2026, the investment firm Jefferies adjusted its outlook, lowering its price target for HCA Healthcare to $525 from a previous target of $590. At the time of this revision, HCA Healthcare's stock price was $432.46. This new target represents a potential increase of approximately 21.4% from its price on that day, offering an interesting perspective for investors.
This adjustment in the price target followed the release of HCA Healthcare's first-quarter 2026 financial results. The company reported mixed performance, with revenues of $19.10 billion slightly beating analyst estimates. However, its adjusted earnings per share (EPS) of $7.15 missed the consensus estimate of $7.17. EPS is a crucial metric that shows how much profit a company makes for each share of its stock, indicating profitability for shareholders.
The earnings miss was primarily influenced by rising operational costs, a trend highlighted by financial analysts like Zacks. Operating expenses for HCA Healthcare increased by 4.8% year-over-year, reaching $15.30 billion. Furthermore, HCA Healthcare experienced a slight decline in surgical procedures, with same-facility inpatient surgeries down 0.3% and outpatient surgeries falling by 1.7% during the quarter, impacting overall service volume.
Despite these challenges, HCA Healthcare's revenue demonstrated solid growth, increasing by 4.3% compared to the same quarter last year. The company's net income also saw a modest 0.6% increase, reaching $1.62 billion. Additionally, Adjusted EBITDA, a key measure of a company's operating performance and financial health, grew by 1.9% to $3.80 billion for the quarter, showcasing underlying operational strength.
