Quorum Health Corporation (QHC) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Quorum Health Corporation (NYSE:QHC) from a hold rating to a buy rating in a research note published on Wednesday morning. They currently have $4.75 price objective on the stock.

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. “

A number of other research analysts have also commented on the company. Deutsche Bank AG increased their price objective on Quorum Health Corporation from $3.00 to $3.50 and gave the company a hold rating in a report on Monday, August 14th. Credit Suisse Group increased their price objective on Quorum Health Corporation from $3.00 to $4.00 and gave the company a neutral rating in a report on Monday, August 14th. ValuEngine raised Quorum Health Corporation from a strong sell rating to a sell rating in a report on Friday, September 1st. Finally, Morgan Stanley began coverage on Quorum Health Corporation in a report on Tuesday, June 6th. They set an underweight rating and a $3.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $4.29.

Quorum Health Corporation (NYSE QHC) opened at 4.66 on Wednesday. The stock has a 50 day moving average price of $4.42 and a 200 day moving average price of $6.22. Quorum Health Corporation has a 1-year low of $3.75 and a 1-year high of $9.46. The firm’s market capitalization is $141.18 million.

Quorum Health Corporation (NYSE:QHC) last issued its earnings results on Wednesday, August 9th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.66) by $0.24. Quorum Health Corporation had a negative return on equity of 26.69% and a negative net margin of 6.88%. The company had revenue of $530.15 million for the quarter, compared to analyst estimates of $513.50 million. During the same period in the prior year, the firm posted ($0.82) EPS. The business’s revenue was up .1% compared to the same quarter last year. Analysts predict that Quorum Health Corporation will post ($1.52) EPS for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. Davidson Kempner Capital Management LP increased its holdings in shares of Quorum Health Corporation by 7.2% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 2,971,526 shares of the company’s stock valued at $12,332,000 after acquiring an additional 200,000 shares during the last quarter. WINTON GROUP Ltd increased its holdings in shares of Quorum Health Corporation by 55.5% during the 2nd quarter. WINTON GROUP Ltd now owns 93,817 shares of the company’s stock valued at $389,000 after acquiring an additional 33,468 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of Quorum Health Corporation by 41.6% during the 2nd quarter. Sterling Capital Management LLC now owns 26,918 shares of the company’s stock valued at $112,000 after acquiring an additional 7,909 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Quorum Health Corporation during the 2nd quarter valued at about $176,000. Finally, Pentwater Capital Management LP acquired a new position in shares of Quorum Health Corporation during the 2nd quarter valued at about $1,868,000. 81.42% of the stock is currently owned by institutional investors and hedge funds.

Quorum Health Corporation Company Profile

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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