Quorum Health Corporation (QHC) Upgraded to Buy at Zacks Investment Research

Quorum Health Corporation (NYSE:QHC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm presently has a $4.75 target price on the stock. Zacks Investment Research‘s price objective points to a potential upside of 5.32% from the stock’s current price.

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. Credit Suisse Group reaffirmed a “neutral” rating and set a $3.25 price target (down previously from $5.00) on shares of Quorum Health Corporation in a research report on Wednesday, May 17th. Morgan Stanley assumed coverage on shares of Quorum Health Corporation in a research report on Tuesday, June 6th. They set an “underweight” rating and a $3.00 price target for the company. ValuEngine raised shares of Quorum Health Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. Finally, Deutsche Bank AG upped their price target on shares of Quorum Health Corporation from $3.00 to $3.50 and gave the company a “hold” rating in a research report on Monday, August 14th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $4.29.

Quorum Health Corporation (NYSE:QHC) opened at 4.51 on Wednesday. The stock’s market cap is $136.64 million. Quorum Health Corporation has a 1-year low of $3.75 and a 1-year high of $9.46. The stock has a 50 day moving average of $4.20 and a 200 day moving average of $7.88.

Quorum Health Corporation (NYSE:QHC) last posted its earnings results on Wednesday, August 9th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.66) by $0.24. The business had revenue of $530.15 million for the quarter, compared to analysts’ expectations of $513.50 million. Quorum Health Corporation had a negative net margin of 6.88% and a negative return on equity of 26.69%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.82) EPS. Equities analysts anticipate that Quorum Health Corporation will post ($1.52) EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased 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 purchasing an additional 1,518,355 shares during the last quarter. JPMorgan Chase & Co. increased 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 purchasing an additional 766,051 shares during the last quarter. Kohlberg Kravis Roberts & Co. L.P. increased 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 purchasing an additional 1,387,064 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Quorum Health Corporation by 10.3% during the 1st quarter. Vanguard Group Inc. now owns 1,568,666 shares of the company’s stock valued at $8,534,000 after purchasing an additional 145,904 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Quorum Health Corporation by 20.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,318,005 shares of the company’s stock valued at $5,470,000 after purchasing an additional 225,717 shares during the last quarter. 81.42% of the stock is owned by hedge funds and other 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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