Quorum Health (QHC) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Quorum Health (NYSE:QHC) from a sell rating to a hold rating in a research note released on Thursday.

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. “

QHC has been the subject of several other research reports. Morgan Stanley upgraded shares of Quorum Health from an underweight rating to an equal weight rating and set a $3.00 price target for the company in a research report on Wednesday, December 20th. Royal Bank of Canada reiterated a hold rating and set a $5.00 price target on shares of Quorum Health in a research report on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $4.13.

Shares of Quorum Health (NYSE QHC) opened at $6.85 on Thursday. Quorum Health has a 1 year low of $2.54 and a 1 year high of $9.33. The company has a debt-to-equity ratio of 9.39, a quick ratio of 1.68 and a current ratio of 1.84. The company has a market cap of $207.53, a P/E ratio of -1.09 and a beta of 7.19.

Quorum Health (NYSE:QHC) last issued its quarterly earnings results on Wednesday, November 8th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.31). Quorum Health had a negative return on equity of 38.34% and a negative net margin of 8.28%. research analysts expect that Quorum Health will post -1.78 earnings per share for the current year.

In other news, SVP Shaheed Koury acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was purchased at an average price of $4.69 per share, for a total transaction of $46,900.00. The transaction 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 insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pentwater Capital Management LP acquired a new position in Quorum Health during the second quarter valued at approximately $1,868,000. California Public Employees Retirement System grew its holdings in Quorum Health by 59.5% during the second quarter. California Public Employees Retirement System now owns 177,549 shares of the company’s stock valued at $737,000 after purchasing an additional 66,200 shares during the period. JPMorgan Chase & Co. grew its holdings in Quorum Health by 16.3% during the third quarter. JPMorgan Chase & Co. now owns 815,934 shares of the company’s stock valued at $4,006,000 after purchasing an additional 114,525 shares during the period. Davidson Kempner Capital Management LP grew its holdings in Quorum Health by 7.2% during the second quarter. Davidson Kempner Capital Management LP now owns 2,971,526 shares of the company’s stock valued at $12,332,000 after purchasing an additional 200,000 shares during the period. Finally, WINTON GROUP Ltd grew its holdings in Quorum Health by 55.5% during the second quarter. WINTON GROUP Ltd now owns 93,817 shares of the company’s stock valued at $389,000 after purchasing an additional 33,468 shares during the period. Hedge funds and other institutional investors own 81.83% of the company’s stock.

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Quorum Health 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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