Community Health Systems (NYSE:CYH) Stock Price Target Lowered at UBS Group

Community Health Systems (NYSE:CYH) had its price objective cut by UBS Group from $3.00 to $2.55 in a report issued on Friday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts have also recently weighed in on CYH. Royal Bank Of Canada reduced their price objective on shares of Community Health Systems from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Monday, July 27th. BMO Capital Markets initiated coverage on shares of Community Health Systems in a research note on Tuesday, September 22nd. They issued a “market perform” rating and a $3.00 target price on the stock. Weiss Ratings downgraded shares of Community Health Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, October 14th. Barclays cut their target price on shares of Community Health Systems from $3.00 to $2.50 and set an “underweight” rating for the company in a research report on Thursday, July 23rd. Finally, Truist Financial decreased their price target on shares of Community Health Systems from $3.75 to $3.25 and set a “hold” rating for the company in a report on Monday, July 27th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $2.88.

Community Health Systems Trading Up 0.4%

Community Health Systems stock opened at $2.41 on Friday. Community Health Systems has a 1-year low of $2.19 and a 1-year high of $4.20. The firm’s fifty day simple moving average is $2.87 and its 200-day simple moving average is $3.04. The company has a market capitalization of $339.83 million, a P/E ratio of 9.27 and a beta of 1.88.

Community Health Systems (NYSE:CYH) last released its quarterly earnings results on Wednesday, October 28th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.19). Community Health Systems had a negative return on equity of 6.66% and a net margin of 0.31%. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter last year, the company posted $1.27 EPS. The business’s revenue was down 10.7% compared to the same quarter last year. On average, equities research analysts predict that Community Health Systems will post -1.65 earnings per share for the current year.

Insider Buying and Selling at Community Health Systems

In other news, Director William Jennings sold 40,000 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $2.96, for a total value of $118,400.00. Following the sale, the director owned 38,468 shares in the company, valued at approximately $113,865.28. This trade represents a 50.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.10% of the company’s stock.

Hedge Funds Weigh In On Community Health Systems

Several large investors have recently bought and sold shares of the stock. Prescott Group Capital Management L.L.C. raised its position in shares of Community Health Systems by 27.1% during the third quarter. Prescott Group Capital Management L.L.C. now owns 328,406 shares of the company’s stock valued at $939,000 after buying an additional 70,000 shares during the last quarter. State of Wyoming grew its position in Community Health Systems by 21.8% during the third quarter. State of Wyoming now owns 141,030 shares of the company’s stock worth $403,000 after buying an additional 25,259 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Community Health Systems during the second quarter worth about $64,000. Readystate Asset Management LP increased its stake in Community Health Systems by 37.3% during the second quarter. Readystate Asset Management LP now owns 496,326 shares of the company’s stock valued at $1,658,000 after acquiring an additional 134,829 shares during the period. Finally, Apollo Management Holdings L.P. raised its holdings in Community Health Systems by 3.2% in the 2nd quarter. Apollo Management Holdings L.P. now owns 11,859,526 shares of the company’s stock valued at $39,611,000 after acquiring an additional 370,210 shares in the last quarter. 84.99% of the stock is currently owned by institutional investors and hedge funds.

Community Health Systems Company Profile

Community Health Systems, Inc (NYSE: CYH) is a healthcare services company that owns, leases, and operates general acute-care hospitals and related healthcare facilities in the United States. The company focuses primarily on serving communities in small cities and non-urban markets, providing access to hospital-based and outpatient care.

Its services generally include emergency care, inpatient and outpatient treatment, surgery, diagnostic imaging, laboratory services, rehabilitation, and other clinical programs.