Truist Financial Increases Community Health Systems (NYSE:CYH) Price Target to $3.75

Community Health Systems (NYSE:CYH) had its price objective boosted by research analysts at Truist Financial from $3.25 to $3.75 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price target points to a potential upside of 11.28% from the company’s current price.

A number of other equities analysts have also recently commented on the stock. Barclays began coverage on shares of Community Health Systems in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $3.00 price target for the company. StockNews.com upgraded shares of Community Health Systems from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. Finally, Oppenheimer lowered their target price on shares of Community Health Systems from $5.50 to $4.50 and set an “outperform” rating for the company in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.05.

Community Health Systems Price Performance

Shares of CYH traded up $0.12 during midday trading on Friday, hitting $3.37. The stock had a trading volume of 877,270 shares, compared to its average volume of 2,075,865. The company has a 50 day simple moving average of $3.08 and a two-hundred day simple moving average of $3.06. The firm has a market cap of $468.36 million, a price-to-earnings ratio of -3.52 and a beta of 1.52. Community Health Systems has a twelve month low of $2.01 and a twelve month high of $6.53.

Community Health Systems (NYSE:CYH) last issued its earnings results on Wednesday, April 24th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. Community Health Systems had a negative return on equity of 5.51% and a negative net margin of 0.99%. The firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the business posted ($0.43) EPS. The company’s revenue was up 1.0% compared to the same quarter last year. Analysts forecast that Community Health Systems will post -0.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Invesco Ltd. grew its holdings in Community Health Systems by 16.4% during the 3rd quarter. Invesco Ltd. now owns 6,239,749 shares of the company’s stock valued at $18,095,000 after purchasing an additional 879,784 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Community Health Systems by 14.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,583,032 shares of the company’s stock worth $17,475,000 after purchasing an additional 701,036 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Community Health Systems by 20.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 1,715,268 shares of the company’s stock worth $4,974,000 after purchasing an additional 292,351 shares during the last quarter. First Eagle Investment Management LLC raised its stake in shares of Community Health Systems by 8.4% during the fourth quarter. First Eagle Investment Management LLC now owns 1,578,121 shares of the company’s stock valued at $4,940,000 after purchasing an additional 122,000 shares during the period. Finally, Panagora Asset Management Inc. boosted its holdings in shares of Community Health Systems by 0.9% during the fourth quarter. Panagora Asset Management Inc. now owns 730,256 shares of the company’s stock valued at $2,286,000 after acquiring an additional 6,333 shares during the period. Institutional investors own 84.99% of the company’s stock.

Community Health Systems Company Profile

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.