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Browse the world's most comprehensive archive of hedge fund manager letters. Access primary source research from leading institutional managers, sorted by reporting period.
Right Tail Capital established a position in HCA Healthcare, the largest US for-profit hospital operator with dominant market positions in high-growth Sunbelt markets. The company generates 20% EBITDA margins, has retired 50% of shares since 2011, and trades at 12x earnings with 10-15% expected annual earnings growth. Despite healthcare reimbursement risks, HCA's operational excellence and financial strength position it to outperform competitors.
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Right Tail Capital established a position in HCA Healthcare, the largest US for-profit hospital operator with dominant market positions in high-growth Sunbelt markets. The company generates 20% EBITDA margins, has retired 50% of shares since 2011, and trades at 12x earnings with 10-15% expected annual earnings growth. Despite healthcare reimbursement risks, HCA's operational excellence and financial strength position it to outperform competitors.
