HCA Healthcare Gains 0.54% on Thin Volume as Liquidity Ranks 409th Among Stocks

On September 23, 2025, , , ranking 409th among stocks in terms of liquidity. The healthcare provider’s muted volume contrasted with its positive price performance, suggesting potential short-term investor interest in its operational resilience amid sector-wide cost pressures.

Recent developments highlight HCA’s strategic focus on optimizing capital efficiency through targeted facility upgrades and workforce training programs. Analysts noted that these initiatives align with broader industry trends toward value-based care, though execution risks remain tied to regional regulatory shifts and reimbursement rate adjustments. The company’s Q3 earnings guidance, issued in late August, emphasized stable inpatient demand and improved outpatient utilization, reinforcing its medium-term growth outlook.

To structure and run this back-test accurately I need to lock down a couple of practical details that weren’t specified: 1. Equity universe • Should the selection pool be “all U.S. common stocks” (NYSE + NASDAQ + NYSE Arca), or some narrower universe (e.g., S&P 1500, Russell 3000, etc.)? 2. Re-balancing mechanics • Each day we pick the 500 highest-volume names and enter positions – should we a) enter at that day’s close and exit at the next trading day’s close, or b) enter at the next day’s open and exit at that day’s close? • Should the portfolio be equal-weighted across the 500 names, or volume-weighted / dollar-weighted? • Any transaction-cost assumption to include (commissions or slippage)? 3. Benchmark (optional) • Would you like the results compared to any specific benchmark index (e.g., SPY)? Once I have these items I can generate the signal file, run the back-test over 2022-01-03 to today, and present the performance report.