Quorum Health Corporation (QHC) Stock Rating Reaffirmed by Credit Suisse Group

Credit Suisse Group reiterated their neutral rating on shares of Quorum Health Corporation (NYSE:QHC) in a report released on Wednesday, May 17th. They currently have a $3.25 target price on the stock, down from their previous target price of $5.00.

Separately, Deutsche Bank AG started coverage on Quorum Health Corporation in a report on Tuesday, April 4th. They issued a hold rating and a $5.00 target price on the stock. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $4.60.

Shares of Quorum Health Corporation (NYSE QHC) traded up 2.61% during trading on Wednesday, reaching $3.93. The company’s stock had a trading volume of 607,909 shares. Quorum Health Corporation has a 52-week low of $2.54 and a 52-week high of $11.66. The firm’s 50-day moving average is $3.74 and its 200 day moving average is $6.38. The company’s market cap is $119.09 million.

Quorum Health Corporation (NYSE:QHC) last issued its earnings results on Monday, May 15th. The company reported ($0.85) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.49) by $0.36. The business had revenue of $527.60 million during the quarter, compared to analyst estimates of $548.81 million. Quorum Health Corporation had a negative net margin of 16.94% and a negative return on equity of 60.49%. The firm’s revenue was down 4.0% on a year-over-year basis. On average, equities research analysts predict that Quorum Health Corporation will post ($1.58) EPS for the current fiscal year.

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In other news, insider Thomas Daniel Miller acquired 185,000 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The shares were bought at an average price of $2.85 per share, with a total value of $527,250.00. Following the acquisition, the insider now directly owns 814,139 shares in the company, valued at approximately $2,320,296.15. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Shaheed Koury acquired 8,500 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The shares were purchased at an average cost of $3.56 per share, for a total transaction of $30,260.00. Following the acquisition, the senior vice president now owns 88,680 shares in the company, valued at $315,700.80. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 197,500 shares of company stock worth $568,190. 4.70% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its stake in Quorum Health Corporation by 81.4% in the first quarter. JPMorgan Chase & Co. now owns 1,707,292 shares of the company’s stock valued at $9,288,000 after buying an additional 766,051 shares during the period. Vanguard Group Inc. increased its stake in Quorum Health Corporation by 10.3% in the first quarter. Vanguard Group Inc. now owns 1,568,666 shares of the company’s stock valued at $8,534,000 after buying an additional 145,904 shares during the period. Davidson Kempner Capital Management LP raised its position in shares of Quorum Health Corporation by 33.2% in the fourth quarter. Davidson Kempner Capital Management LP now owns 1,501,030 shares of the company’s stock valued at $10,912,000 after buying an additional 373,721 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Quorum Health Corporation by 12.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,092,288 shares of the company’s stock valued at $5,942,000 after buying an additional 124,723 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Quorum Health Corporation by 111.3% in the first quarter. Goldman Sachs Group Inc. now owns 859,477 shares of the company’s stock valued at $4,676,000 after buying an additional 452,671 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors.

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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