Community Health Systems (NYSE:CYH) Price Target Cut to $5.00

Community Health Systems (NYSE:CYH) had its price objective cut by Truist Financial from $5.50 to $5.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 22.85% from the company’s previous close.

Several other research firms have also commented on CYH. Wells Fargo & Company lifted their price target on shares of Community Health Systems from $3.50 to $5.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $6.00 price target on shares of Community Health Systems in a research report on Monday, August 12th. UBS Group increased their price objective on Community Health Systems from $4.70 to $5.10 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Barclays raised their price objective on Community Health Systems from $3.00 to $5.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Oppenheimer increased their target price on shares of Community Health Systems from $4.50 to $5.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Community Health Systems presently has a consensus rating of “Hold” and a consensus price target of $5.18.

Community Health Systems Price Performance

Shares of NYSE:CYH traded down $0.18 during trading on Friday, hitting $4.07. 1,314,876 shares of the company were exchanged, compared to its average volume of 1,780,029. Community Health Systems has a 12-month low of $2.01 and a 12-month high of $6.29. The firm’s 50 day moving average price is $5.54 and its 200-day moving average price is $4.34. The stock has a market capitalization of $565.59 million, a P/E ratio of -4.31 and a beta of 1.55.

Community Health Systems (NYSE:CYH) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.14). The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the company earned ($0.33) EPS. The firm’s quarterly revenue was up .1% on a year-over-year basis. As a group, equities research analysts anticipate that Community Health Systems will post -0.41 EPS for the current year.

Institutional Investors Weigh In On Community Health Systems

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Community Health Systems by 0.4% during the first quarter. Vanguard Group Inc. now owns 8,124,617 shares of the company’s stock valued at $28,436,000 after buying an additional 28,669 shares during the period. Whitebox Advisors LLC grew its holdings in shares of Community Health Systems by 43.3% during the 2nd quarter. Whitebox Advisors LLC now owns 3,020,933 shares of the company’s stock worth $10,150,000 after purchasing an additional 913,542 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Community Health Systems by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,748,786 shares of the company’s stock worth $5,875,000 after buying an additional 43,145 shares during the period. First Eagle Investment Management LLC lifted its position in shares of Community Health Systems by 5.0% during the 1st quarter. First Eagle Investment Management LLC now owns 1,657,121 shares of the company’s stock worth $5,800,000 after buying an additional 79,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Community Health Systems by 6.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,616,212 shares of the company’s stock valued at $9,810,000 after purchasing an additional 91,985 shares during the last quarter. Institutional investors own 84.99% of the company’s stock.

About Community Health Systems

Community Health Systems, Inc owns, leases, and operates general acute care hospitals in the United States. It offers general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services, as well as skilled nursing and home care services.