Quorum Health Corporation (QHC) Posts Quarterly Earnings Results, Beats Expectations By $0.24 EPS

Quorum Health Corporation (NYSE:QHC) released its earnings results on Wednesday. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.66) by $0.24, Bloomberg Earnings reports. Quorum Health Corporation had a negative return on equity of 60.49% and a negative net margin of 16.94%. The firm had revenue of $530.15 million during the quarter, compared to analysts’ expectations of $513.50 million. During the same quarter last year, the business posted ($0.82) earnings per share. The firm’s revenue was up .1% on a year-over-year basis.

Quorum Health Corporation (QHC) traded up 14.38% during trading on Thursday, reaching $3.50. The company’s stock had a trading volume of 373,243 shares. Quorum Health Corporation has a one year low of $2.54 and a one year high of $9.46. The firm’s market capitalization is $106.06 million. The stock has a 50-day moving average of $3.73 and a 200 day moving average of $5.37.

Several analysts recently issued reports on the company. Zacks Investment Research upgraded Quorum Health Corporation from a “hold” rating to a “buy” rating and set a $4.50 target price for the company in a research report on Saturday, July 22nd. Morgan Stanley assumed coverage on Quorum Health Corporation in a research report on Tuesday, June 6th. They set an “underweight” rating and a $3.00 target price for the company. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $3.25 target price (down previously from $5.00) on shares of Quorum Health Corporation in a research report on Wednesday, May 17th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The company currently has an average rating of “Hold” and an average target price of $4.57.

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In related news, insider Thomas Daniel Miller purchased 185,000 shares of Quorum Health Corporation stock in a transaction dated Thursday, May 18th. The stock was bought at an average cost of $2.85 per share, for a total transaction of $527,250.00. Following the transaction, the insider now owns 814,139 shares in the company, valued at $2,320,296.15. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Shaheed Koury purchased 8,500 shares of Quorum Health Corporation stock in a transaction dated 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 transaction, the senior vice president now owns 88,680 shares in the company, valued at approximately $315,700.80. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 197,500 shares of company stock valued at $568,190. Insiders own 4.70% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of Quorum Health Corporation by 17.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 967,565 shares of the company’s stock valued at $7,034,000 after buying an additional 146,439 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of 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 valued at $183,000 after buying an additional 22,477 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Quorum Health Corporation by 6.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 15,910 shares of the company’s stock valued at $116,000 after buying an additional 960 shares in the last quarter. Norges Bank bought a new position in shares of Quorum Health Corporation during the fourth quarter valued at about $1,150,000. Finally, Teachers Advisors LLC increased its position in shares of Quorum Health Corporation by 51.9% in the fourth quarter. Teachers Advisors LLC now owns 80,831 shares of the company’s stock valued at $588,000 after buying an additional 27,634 shares in the last quarter. Hedge funds and other institutional investors own 87.88% of the company’s stock.

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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