Community Health Systems (NYSE:CYH) Stock Price Target Lowered at Truist Financial

Community Health Systems (NYSE:CYH) had its target price cut by equities researchers at Truist Financial from $3.25 to $2.50 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial‘s price target points to a potential upside of 18.20% from the stock’s current price.

Several other research analysts also recently issued reports on the company. Wall Street Zen downgraded Community Health Systems from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Weiss Ratings lowered shares of Community Health Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, October 14th. Royal Bank Of Canada decreased their price target on shares of Community Health Systems from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Monday, July 27th. Barclays dropped their price target on shares of Community Health Systems from $3.00 to $2.50 and set an “underweight” rating for the company in a research note on Thursday, July 23rd. Finally, BMO Capital Markets started coverage on shares of Community Health Systems in a report on Tuesday, September 22nd. They set a “market perform” rating and a $3.00 price target on the stock. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $2.59.

Community Health Systems Price Performance

CYH stock traded up $0.01 during midday trading on Tuesday, reaching $2.12. 770,782 shares of the stock were exchanged, compared to its average volume of 1,612,798. The stock has a market capitalization of $298.24 million, a PE ratio of 8.17 and a beta of 1.88. Community Health Systems has a 52 week low of $2.06 and a 52 week high of $3.92. The company has a fifty day moving average price of $2.85 and a 200 day moving average price of $3.03.

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

Insider Activity

In other news, Director William Jennings sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $2.96, for a total transaction of $118,400.00. Following the completion of the transaction, the director directly owned 38,468 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. 11.10% of the stock is owned by company insiders.

Institutional Trading of Community Health Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Community Health Systems during the 2nd quarter worth approximately $36,508,000. Bank of America Corp DE acquired a new position in shares of Community Health Systems in the 2nd quarter worth approximately $5,904,000. Owl Creek Asset Management L.P. boosted its stake in shares of Community Health Systems by 65.4% in the 1st quarter. Owl Creek Asset Management L.P. now owns 2,530,622 shares of the company’s stock valued at $7,440,000 after purchasing an additional 1,000,862 shares during the last quarter. Carronade Capital Management LP boosted its stake in shares of Community Health Systems by 306.7% in the 1st quarter. Carronade Capital Management LP now owns 1,321,923 shares of the company’s stock valued at $3,886,000 after purchasing an additional 996,923 shares during the last quarter. Finally, Whitebox Advisors LLC increased its position in shares of Community Health Systems by 42.1% during the first quarter. Whitebox Advisors LLC now owns 3,127,884 shares of the company’s stock worth $9,196,000 after buying an additional 926,364 shares during the period. Institutional investors and hedge funds own 84.99% of the company’s stock.

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.