Quorum Health Corp (QHC) Trading Down 5%
Quorum Health Corp (NYSE:QHC)’s share price dropped 5% during mid-day trading on Wednesday . The stock traded as low as $6.50 and last traded at $6.50, with a volume of 130,690 shares trading hands. The stock had previously closed at $6.84.
QHC has been the subject of several analyst reports. RBC Capital Markets reiterated a “sector perform” rating and issued a $6.00 target price (down from $13.00) on shares of Quorum Health Corp in a research note on Saturday, August 13th. Credit Suisse Group AG restated a “hold” rating and set a $6.00 price objective on shares of Quorum Health Corp in a research report on Wednesday, August 31st. Mizuho reduced their price objective on shares of Quorum Health Corp from $8.50 to $5.75 and set a “neutral” rating for the company in a research report on Monday, August 15th. Susquehanna initiated coverage on shares of Quorum Health Corp in a research report on Wednesday, June 8th. They set a “neutral” rating and a $11.00 price objective for the company. Finally, Morgan Stanley restated a “hold” rating on shares of Quorum Health Corp in a research report on Thursday, August 11th. Seven investment analysts have rated the stock with a hold rating, Quorum Health Corp has a consensus rating of “Hold” and an average price target of $9.68.
The firm’s market capitalization is $187.24 million. The company’s 50 day moving average price is $6.94 and its 200 day moving average price is $9.79.
Quorum Health Corp (NYSE:QHC) last announced its earnings results on Wednesday, August 10th. The company reported ($8.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by $8.74. The firm had revenue of $529.70 million for the quarter, compared to analyst estimates of $564.19 million. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities analysts anticipate that Quorum Health Corp will post ($1.95) EPS for the current fiscal year.
In other Quorum Health Corp news, insider Thomas Daniel Miller bought 48,200 shares of the stock in a transaction dated Monday, August 15th. The shares were acquired at an average cost of $5.85 per share, for a total transaction of $281,970.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William S. Hussey bought 5,000 shares of the stock in a transaction dated Monday, August 15th. The shares were acquired at an average price of $5.83 per share, for a total transaction of $29,150.00. Following the completion of the transaction, the director now owns 53,809 shares of the company’s stock, valued at approximately $313,706.47. The disclosure for this purchase can be found here.
Several institutional investors have recently made changes to their positions in QHC. Macquarie Group Ltd. acquired a new position in shares of Quorum Health Corp during the second quarter worth about $320,000. Royal Bank of Canada purchased a new position in Quorum Health Corp during the second quarter worth $180,000. Schwab Charles Investment Management Inc. purchased a new position in Quorum Health Corp during the second quarter worth $992,000. Legal & General Group Plc purchased a new position in Quorum Health Corp during the second quarter worth $379,000. Finally, Metropolitan Life Insurance Co. NY purchased a new position in Quorum Health Corp during the second quarter worth $250,000.
Quorum Health Corp 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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