Zacks Investment Research downgraded shares of Concord Medical Services Holdings Limited (NYSE:CCM) from a buy rating to a hold rating in a research note issued to investors on Monday.

According to Zacks, “Concord Medical Services Holdings Limited operates a large network of radiotherapy and diagnostic imaging centers in China. Most of the centers in their network are established through long-term lease and management services arrangements entered into with their hospital partners. Under these arrangements, Concord Medical receives a contracted percentage of each center’s revenue net of specified operating expenses. Each center is located on the premises of their hospital partners and is typically equipped with a primary unit of advanced radiotherapy or diagnostic imaging equipment, such as a linear accelerator, head gamma knife system, body gamma knife system, PET-CT scanner or MRI scanner. “

Shares of Concord Medical Services Holdings Limited (NYSE:CCM) traded up 1.01% during mid-day trading on Monday, reaching $4.01. The company had a trading volume of 1,056 shares. Concord Medical Services Holdings Limited has a 12-month low of $3.22 and a 12-month high of $4.96. The firm has a 50-day moving average of $4.00 and a 200-day moving average of $4.21. The company’s market capitalization is $175.13 million.

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A hedge fund recently raised its stake in Concord Medical Services Holdings Limited stock. Renaissance Technologies LLC boosted its stake in Concord Medical Services Holdings Limited (NYSE:CCM) by 48.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 199,100 shares of the company’s stock after buying an additional 64,600 shares during the period. Renaissance Technologies LLC owned 1.37% of Concord Medical Services Holdings Limited worth $940,000 at the end of the most recent reporting period. 12.62% of the stock is currently owned by institutional investors and hedge funds.

About Concord Medical Services Holdings Limited

Concord Medical Services Holdings Limited is engaged in the leasing of radiotherapy and diagnostic imaging equipment, the provision of management services to hospitals. The Company is also engaged in hospital operations. The Company’s segments are network and premium cancer hospital. The Company operates a network of radiotherapy and diagnostic imaging centers in China.

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