UPDATE: Auriga Downgrades HCA Holdings to Hold

Auriga has published a research report on HCA Holdings

and has downgraded the company from Buy to Hold. In the report, Auriga writes, "In a nutshell we believe the macro issues HCA and the other hospital companies have faced have moderated but not disappeared and will remain on the table over the next 12 months. These issues include softness in higher acuity and elective surgeries, reimbursement overhang from Washington and private payors, potential impact from doc fix, and a continued but slow economic recovery. Given the recent run up in HCA, and what we see as a lack of near-term catalysts, we believe the risk/reward profile is not as compelling." Auriga maintains its $28 price target on HCA Holdings, which is currently trading down $0.62 from yesterday's $27.00 closing price.