Zacks Investment Research upgraded shares of Concord Medical Services (NYSE:CCM) from a hold rating to a buy rating in a research note released on Wednesday morning. They currently have $3.50 price objective on the stock.
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 NYSE CCM opened at $3.02 on Wednesday. Concord Medical Services has a 12 month low of $2.46 and a 12 month high of $4.20. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.10 and a quick ratio of 1.10.
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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