Quorum Health Corporation (QHC) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Quorum Health Corporation (NYSE:QHC) from a buy rating to a hold rating in a research report report published on Wednesday, August 9th.

According to Zacks, “Quorum Health Corporation provides hospital and outpatient healthcare services in the United States. The Company operates in two segments: Hospital operations, which includes its general acute care hospitals and related healthcare entities that provide inpatient and outpatient healthcare services, and hospital management advisory and consulting services, which includes Quorum Health Resources, LLC (QHR). It operates QHR, which is a hospital management advisory and consulting services that provides services to non-affiliated general acute care hospitals. Its hospitals and its affiliated businesses offer services, such as general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetric, diagnostic, psychiatric, and rehabilitation services. “

Several other equities research analysts have also recently commented on QHC. Morgan Stanley began coverage on Quorum Health Corporation in a research report on Tuesday, June 6th. They set an underweight rating and a $3.00 price objective on the stock. Credit Suisse Group reaffirmed a neutral rating and set a $3.25 price objective (down from $5.00) on shares of Quorum Health Corporation in a research report on Wednesday, May 17th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Quorum Health Corporation has a consensus rating of Hold and a consensus price target of $4.25.

Quorum Health Corporation (NYSE:QHC) traded up 0.47% during midday trading on Wednesday, hitting $4.26. The stock had a trading volume of 119,551 shares. The firm has a 50 day moving average of $3.70 and a 200 day moving average of $5.16. The firm’s market cap is $129.07 million. Quorum Health Corporation has a 52 week low of $2.54 and a 52 week high of $9.46.

Quorum Health Corporation (NYSE:QHC) last released its quarterly earnings data on Wednesday, August 9th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.24. Quorum Health Corporation had a negative return on equity of 61.90% and a negative net margin of 7.13%. The company had revenue of $530.15 million for the quarter, compared to analysts’ expectations of $513.50 million. During the same period last year, the firm posted ($0.82) earnings per share. Quorum Health Corporation’s revenue was up .1% compared to the same quarter last year. Equities research analysts predict that Quorum Health Corporation will post ($1.53) EPS for the current year.

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In other news, SVP Shaheed Koury bought 8,500 shares of the stock in a transaction on Thursday, May 25th. The shares were bought at an average price of $3.56 per share, with a total value of $30,260.00. Following the completion of the acquisition, the senior vice president now owns 88,680 shares in the company, valued at $315,700.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.70% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of QHC. Dimensional Fund Advisors LP increased its position in Quorum Health Corporation by 17.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 967,565 shares of the company’s stock worth $7,034,000 after buying an additional 146,439 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in Quorum Health Corporation by 853.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 25,111 shares of the company’s stock worth $183,000 after buying an additional 22,477 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Quorum Health Corporation by 6.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 15,910 shares of the company’s stock worth $116,000 after buying an additional 960 shares in the last quarter. Norges Bank purchased a new position in Quorum Health Corporation during the fourth quarter worth $1,150,000. Finally, Teachers Advisors LLC increased its position in Quorum Health Corporation by 51.9% in the fourth quarter. Teachers Advisors LLC now owns 80,831 shares of the company’s stock worth $588,000 after buying an additional 27,634 shares in the last quarter. 88.36% of the stock is currently owned by institutional investors.

About Quorum Health Corporation

Quorum Health Corporation is an operator and manager of general acute care hospitals and outpatient services in the United States. The Company operates in two segments: Hospital operations, which includes its general acute care hospitals and related healthcare entities that provide inpatient and outpatient healthcare services, and hospital management advisory and consulting services, which includes Quorum Health Resources, LLC (QHR).

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