Concord Medical Services (NYSE:CCM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, 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. “

CCM remained flat at $$2.62 during trading on Tuesday. The company’s stock had a trading volume of 9,000 shares, compared to its average volume of 9,354. The company has a 50-day simple moving average of $2.35. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $113.61 million, a price-to-earnings ratio of -2.18 and a beta of -0.19. Concord Medical Services has a one year low of $1.85 and a one year high of $4.19.

An institutional investor recently raised its position in Concord Medical Services stock. Wedbush Securities Inc. raised its stake in Concord Medical Services Hldg Ltd (NYSE:CCM) by 28.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,432 shares of the company’s stock after acquiring an additional 4,757 shares during the quarter. Wedbush Securities Inc.’s holdings in Concord Medical Services were worth $60,000 at the end of the most recent quarter. 1.79% of the stock is owned by institutional investors.

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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