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QHC

Quorum Health

$6.06

0.08 (1.34%)

07:34
10/19/16
10/19
07:34
10/19/16
07:34

Quorum Health announces agreement to divest Hamlet, North Carolina hospital

Quorum Health Corporation said that subsidiaries of the company have signed a definitive agreement to sell 64-bed Sandhills Regional Medical Center in Hamlet, North Carolina, and its associated assets, to FirstHealth of the Carolinas, Inc. The divestiture is expected to close approximately December 1, 2016, subject to customary regulatory approvals and closing conditions. "We continue to move forward in executing our strategy and this announcement marks our second definitive agreement in that effort," said Thomas D. Miller, President and CEO. "We are working toward additional divestitures in our efforts to improve organizational performance and reduce our debt."

QHC Quorum Health
$6.06

0.08 (1.34%)

07/29/16
FBCO
07/29/16
INITIATION
Target $12
FBCO
Neutral
Quorum Health initiated with a Neutral at Credit Suisse
Credit Suisse analyst Scott Fidel initiated Quorum Health with a Neutral and $12 price target due to high leverage limits that limit growth and relative valuation.
07/29/16
07/29/16
INITIATION

On The Fly: Top analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Ball Corp. (BLL) resumed with a Neutral at Citi. 2. Community Health (CYH) initiated with a Neutral at Credit Suisse. 3. Quorum Health (QHC) initiated with a Neutral at Credit Suisse. 4. Western Gas Equity (WGP) and Western Gas Partners (WEP) initiated with a Buy at Janney Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/11/16
UBSW
08/11/16
DOWNGRADE
Target $5.5
UBSW
Sell
Quorum Health downgraded to Sell from Neutral at UBS
UBS analyst A.J. Rice downgraded Quorum Health to Sell saying the company's earnings power is "much less than thought" after its Q2 results missed expectations. Quorum deserves a valuation discount to hospital peers as its operating momentum and portfolio rationalization will take time to materialize, Rice tells investors in a research note. He cut his price target for the shares to $5.50 from $14.
08/11/16
08/11/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Wendy's (WEN) downgraded to Buy from Conviction Buy at Goldman with analyst Karen Holthouse citing execution risk and the potential for additional fiscal 2016 same-store sales guidance reductions. 2. Bristol-Myers (BMY) downgraded to Hold from Buy at Berenberg. 3. Public Storage (PSA) downgraded to Neutral from Buy at BofA/Merrill with analyst Jeffery Spector citing valuation and increasing concessions in weaker markets. 4. Lam Research (LRCX) downgraded to Neutral from Buy at Nomura with analyst Romit Shah citing the extended timeline for its merger with KLA-Tencor (KLAC) after the Department of Justice requested more information. 5. Quorum Health (QHC) downgraded to Sell from Neutral at UBS with analyst A.J. Rice saying the company's earnings power is "much less than thought" after its second quarter results missed expectations. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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