Truist Financial Lowers Community Health Systems (NYSE:CYH) Price Target to $3.50

Community Health Systems (NYSE:CYH) had its target price lowered by equities researchers at Truist Financial from $5.00 to $3.50 in a report released on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s target price points to a potential upside of 15.13% from the stock’s previous close.

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

Community Health Systems Trading Down 0.7 %

NYSE:CYH opened at $3.04 on Monday. The stock’s 50 day simple moving average is $3.58 and its 200-day simple moving average is $4.43. Community Health Systems has a 12-month low of $2.51 and a 12-month high of $6.29. The firm has a market cap of $422.40 million, a P/E ratio of -1.01 and a beta of 1.59.

Community Health Systems (NYSE:CYH) last issued its earnings results on Wednesday, October 23rd. The company reported ($0.30) earnings per share 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. During the same quarter last year, the firm posted ($0.33) earnings per share. The firm’s quarterly revenue was up .1% on a year-over-year basis. Research analysts forecast that Community Health Systems will post -0.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Community Health Systems

Large investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale purchased a new position in shares of Community Health Systems during the 2nd quarter worth about $33,000. Signaturefd LLC purchased a new position in shares of Community Health Systems in the 3rd quarter worth $33,000. Canada Pension Plan Investment Board acquired a new stake in Community Health Systems during the second quarter worth about $45,000. CWM LLC increased its position in Community Health Systems by 32.1% during the 3rd quarter. CWM LLC now owns 12,191 shares of the company’s stock worth $74,000 after purchasing an additional 2,961 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake 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 buying an additional 19,886 shares during the period. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

About Community Health Systems

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.