Community Health Systems (NYSE:CYH) Given New $3.50 Price Target at Truist Financial

Community Health Systems (NYSE:CYH) had its target price dropped by research analysts at Truist Financial from $5.00 to $3.50 in a research note issued on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price target points to a potential upside of 14.01% from the stock’s current price.

CYH has been the subject of several other reports. StockNews.com cut Community Health Systems from a “hold” rating to a “sell” rating in a research note on Monday, November 25th. Barclays lifted their price objective on shares of Community Health Systems from $3.00 to $5.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Raymond James lowered shares of Community Health Systems from a “market perform” rating to an “underperform” rating in a research note on Friday, November 22nd. Finally, Wells Fargo & Company downgraded shares of Community Health Systems from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $5.00 to $2.50 in a research report on Monday, November 25th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Community Health Systems currently has an average rating of “Hold” and a consensus price target of $4.52.

Community Health Systems Price Performance

CYH stock opened at $3.07 on Monday. The stock has a market capitalization of $426.57 million, a PE ratio of -1.02 and a beta of 1.59. Community Health Systems has a 52 week low of $2.51 and a 52 week high of $6.29. The firm has a 50 day moving average of $3.62 and a 200 day moving average of $4.43.

Community Health Systems (NYSE:CYH) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.14). The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.08 billion. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.33) EPS. On average, equities research analysts expect that Community Health Systems will post -0.56 earnings per share for the current year.

Institutional Trading of Community Health Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CYH. Bank of New York Mellon Corp boosted its stake in shares of Community Health Systems by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 687,804 shares of the company’s stock worth $2,311,000 after acquiring an additional 20,150 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Community Health Systems by 412.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 24,702 shares of the company’s stock worth $83,000 after purchasing an additional 19,886 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Community Health Systems in the second quarter valued at approximately $871,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Community Health Systems during the 2nd quarter worth approximately $33,000. Finally, Thoroughbred Financial Services LLC lifted its position in shares of Community Health Systems by 73.5% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 39,187 shares of the company’s stock valued at $131,000 after buying an additional 16,600 shares in the last quarter. Institutional investors and hedge funds 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.