Quorum Health (NYSE:QHC) Shares Up 5.7%

Shares of Quorum Health Corp (NYSE:QHC) shot up 5.7% during mid-day trading on Monday . The company traded as high as $1.16 and last traded at $1.11, 474,235 shares traded hands during mid-day trading. An increase of 9% from the average session volume of 434,845 shares. The stock had previously closed at $1.05.

A number of brokerages have recently issued reports on QHC. Zacks Investment Research raised shares of Quorum Health from a “sell” rating to a “hold” rating in a report on Wednesday, May 15th. Royal Bank of Canada reissued a “hold” rating and issued a $2.00 price target on shares of Quorum Health in a report on Sunday, August 11th. Finally, ValuEngine raised shares of Quorum Health from a “sell” rating to a “hold” rating in a report on Thursday, August 1st.

The stock has a market capitalization of $36.53 million, a P/E ratio of -0.66 and a beta of 1.78. The company’s fifty day simple moving average is $1.43 and its two-hundred day simple moving average is $1.79.

Quorum Health (NYSE:QHC) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.02). The business had revenue of $442.17 million for the quarter, compared to analysts’ expectations of $475.01 million. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.33) earnings per share.

Institutional investors have recently added to or reduced their stakes in the business. KBC Group NV bought a new position in Quorum Health in the 2nd quarter valued at about $36,000. A.R.T. Advisors LLC bought a new position in Quorum Health in the 2nd quarter valued at about $53,000. Bank of America Corp DE raised its holdings in Quorum Health by 131.6% in the 4th quarter. Bank of America Corp DE now owns 34,799 shares of the company’s stock valued at $101,000 after acquiring an additional 19,773 shares during the period. Jane Street Group LLC raised its holdings in Quorum Health by 337.8% in the 2nd quarter. Jane Street Group LLC now owns 81,858 shares of the company’s stock valued at $114,000 after acquiring an additional 63,159 shares during the period. Finally, SG Americas Securities LLC bought a new position in Quorum Health in the 1st quarter valued at about $130,000. 85.46% of the stock is currently owned by hedge funds and other institutional investors.

About Quorum Health (NYSE:QHC)

Quorum Health Corporation, together with its subsidiaries, provides hospital and outpatient healthcare services in the United States. Its hospital and outpatient healthcare services include general and acute care, emergency room, general and specialty surgery, critical care, internal medicine, diagnostic, obstetric, psychiatric, and rehabilitation services.

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