Oppenheimer Maintains Outperform on HCA

Oppenheimer is out with its report today on HCA (NYSE: HCA), maintaining Outperform.

In a note to clients, Oppenheimer writes, "The Colorado Health Foundation announced that its board has approved and signed a non-binding memorandum of understanding to sell its 40% stake of the HCA-HealthONE LLC joint venture to HCA. HealthONE is a non-profit organization, headquartered in Denver, CO, with approximately 2,259 licensed beds and 3,000 physicians. HCA will pay $1.45B for the 40% stake in the company (valuing the company at $3.63B) and will fund the transaction with its revolving credit facility. The transaction is expected to close in 3Q:2011 and remains subject to the regulatory review process. We maintain our Outperform rating on HCA."

Oppenheimer maintains a $40 PT on HCA.

Shares of HCA closed Wednesday at $33.15, down 1.16% from Tuesday's close.