Brokerages Set Community Health Systems, Inc. (CYH) Target Price at $7.62
Community Health Systems, Inc. (NYSE:CYH) has been given a consensus rating of “Hold” by the twenty-two analysts that are presently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $7.62.
Several analysts recently weighed in on CYH shares. ValuEngine raised Community Health Systems from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Royal Bank Of Canada reissued a “hold” rating and set a $7.00 price target on shares of Community Health Systems in a report on Friday, August 4th. Morgan Stanley started coverage on Community Health Systems in a report on Tuesday, June 6th. They set an “underweight” rating and a $9.50 price target for the company. Deutsche Bank AG dropped their price target on Community Health Systems from $13.00 to $8.00 and set a “hold” rating for the company in a report on Thursday, August 3rd. Finally, Jefferies Group LLC reissued a “hold” rating and set a $7.00 price target on shares of Community Health Systems in a report on Sunday, July 30th.
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Shares of Community Health Systems (CYH) traded up 0.71% on Tuesday, hitting $7.13. The stock had a trading volume of 1,970,979 shares. The stock’s 50-day moving average price is $7.40 and its 200 day moving average price is $8.75. Community Health Systems has a 52 week low of $4.15 and a 52 week high of $13.28. The company’s market cap is $798.10 million.
Community Health Systems (NYSE:CYH) last released its quarterly earnings data on Tuesday, August 1st. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by $0.31. Community Health Systems had a negative net margin of 3.63% and a positive return on equity of 0.07%. The business had revenue of $4.14 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same period in the previous year, the business earned $0.09 earnings per share. The business’s quarterly revenue was down 9.7% on a year-over-year basis. On average, analysts predict that Community Health Systems will post ($0.31) EPS for the current year.
In related news, major shareholder Tian Qiao Chen bought 9,766,897 shares of the business’s stock in a transaction on Monday, August 14th. The shares were purchased at an average cost of $7.27 per share, with a total value of $71,005,341.19. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 4.70% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Verition Fund Management LLC lifted its holdings in Community Health Systems by 105.0% during the 2nd quarter. Verition Fund Management LLC now owns 56,589 shares of the company’s stock worth $564,000 after buying an additional 28,989 shares during the period. Piedmont Investment Advisors LLC acquired a new position in Community Health Systems during the 2nd quarter worth about $247,000. Sterling Capital Management LLC lifted its holdings in Community Health Systems by 44.9% during the 2nd quarter. Sterling Capital Management LLC now owns 39,069 shares of the company’s stock worth $389,000 after buying an additional 12,097 shares during the period. BlueCrest Capital Management Ltd acquired a new position in Community Health Systems during the 2nd quarter worth about $244,000. Finally, Gotham Asset Management LLC lifted its holdings in Community Health Systems by 102.8% during the 2nd quarter. Gotham Asset Management LLC now owns 963,388 shares of the company’s stock worth $9,595,000 after buying an additional 488,336 shares during the period. 94.71% of the stock is currently owned by hedge funds and other institutional investors.
About Community Health Systems
Community Health Systems, Inc is an operator of general acute care hospitals and outpatient facilities in communities across the country. The Company operates through hospital operations segment, which includes its general acute care hospitals and related healthcare entities that provide inpatient and outpatient healthcare services.
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