HCA Healthcare price target lowered to $276 from $298 at Leerink

Leerink lowered the firm’s price target on HCA Healthcare to $276 from $298 and keeps an Outperform rating on the shares. The company’s Q3 results “brought forth a continuation of strong themes” around above average volumes, acuity, strong contract labor improvement, and signs of stability on pro fees, the analyst tells investors in a research note. However, the higher than average seasonal increase in salaries, wages and benefits and other expenses is still difficult to fully reconcile, says the firm. Leerink senses the low-end of HCA’s revised guide is much more reasonable than the midpoint to high-end.