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 report published on Wednesday. The firm currently has $4.75 price target 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. “

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

Quorum Health Corporation (NYSE:QHC) opened at 4.66 on Wednesday. Quorum Health Corporation has a 52 week low of $3.75 and a 52 week high of $9.46. The stock’s market capitalization is $141.18 million. The firm has a 50-day moving average of $4.42 and a 200 day moving average of $6.22.

Quorum Health Corporation (NYSE:QHC) last announced its earnings results on Wednesday, August 9th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the Zacks’ 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 company posted ($0.82) EPS. Quorum Health Corporation’s quarterly revenue was up .1% on a year-over-year basis. On average, analysts anticipate that Quorum Health Corporation will post ($1.52) EPS for the current year.

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Several hedge funds have recently bought and sold shares of QHC. Goldman Sachs Group Inc. raised its position in shares of Quorum Health Corporation by 176.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,377,832 shares of the company’s stock valued at $9,868,000 after acquiring an additional 1,518,355 shares in the last quarter. Kohlberg Kravis Roberts & Co. L.P. raised its position in shares of Quorum Health Corporation by 502.3% during the 1st quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 1,663,181 shares of the company’s stock valued at $9,048,000 after acquiring an additional 1,387,064 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Quorum Health Corporation by 81.4% during the 1st quarter. JPMorgan Chase & Co. now owns 1,707,292 shares of the company’s stock valued at $9,288,000 after acquiring an additional 766,051 shares in the last quarter. Pentwater Capital Management LP acquired a new stake in shares of Quorum Health Corporation during the 2nd quarter valued at approximately $1,868,000. Finally, Silver Point Capital L.P. raised its position in shares of Quorum Health Corporation by 40.6% during the 2nd quarter. Silver Point Capital L.P. now owns 1,167,000 shares of the company’s stock valued at $4,843,000 after acquiring an additional 337,000 shares in the last quarter. 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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