Concord Medical Services (NYSE:CCM) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Concord Medical Services (NYSE:CCM) from a hold rating to a sell rating in a report published on Tuesday morning, reports.

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. “

Concord Medical Services stock opened at $2.61 on Tuesday. The firm has a market capitalization of $113.61 million, a PE ratio of -2.18 and a beta of -0.19. Concord Medical Services has a twelve month low of $1.85 and a twelve month high of $4.19. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a 50 day moving average of $2.36.

An institutional investor recently raised its position in Concord Medical Services stock. Wedbush Securities Inc. increased its holdings in shares of Concord Medical Services Hldg Ltd (NYSE:CCM) by 28.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,432 shares of the company’s stock after purchasing an additional 4,757 shares during the quarter. Wedbush Securities Inc.’s holdings in Concord Medical Services were worth $60,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 1.79% of the company’s stock.

Concord Medical Services Company Profile

Concord Medical Services Holdings Limited, through its subsidiaries, operates a network of radiotherapy and diagnostic imaging centers in the People's Republic of China. The company's services comprise linear accelerators external beam radiotherapy, gamma knife radiosurgery, head gamma knife systems, body gamma knife systems, CyberKnife robotic radiosurgery system, proton beam therapy systems, and diagnostic imaging services.

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