Ryan Langston, an analyst from TD Cowen, maintained the Buy rating on HCA Healthcare. The associated price target was raised to $490.00.
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Ryan Langston has given his Buy rating due to a combination of factors, including HCA Healthcare’s robust financial performance and strategic growth initiatives. The company reported a significant increase in adjusted EBITDA, surpassing consensus expectations by 11%, and raised its full-year 2025 EBITDA guidance by $450 million. This improvement is attributed to strong operational performance and additional revenue from Medicaid supplemental payment programs.
HCA’s revenue growth was driven by broad-based volume strength, favorable payer mix, and higher acuity, which contributed to a 9.6% increase in revenue for the third quarter of 2025. The company’s diversified portfolio has helped mitigate regional underperformance, with certain divisions recovering from previous challenges. Effective cost management, particularly in labor and supply expenses, has also supported HCA’s financial health. These factors, along with a positive outlook for continued EBITDA growth, underpin Langston’s Buy rating for HCA Healthcare.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $507.00 price target.

