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

Community Health Systems (NYSE:CYH - Get Free Report) had its target price reduced by investment analysts at Truist Financial from $5.00 to $3.50 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Truist Financial's price target points to a potential upside of 14.38% from the stock's current price.

Other equities analysts have also recently issued reports about the stock. Barclays raised their price target on shares of Community Health Systems from $3.00 to $5.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 24th. Wells Fargo & Company downgraded Community Health Systems from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $5.00 to $2.50 in a research report on Monday, November 25th. StockNews.com cut Community Health Systems from a "hold" rating to a "sell" rating in a research report on Monday, November 25th. Finally, Raymond James cut Community Health Systems from a "market perform" rating to an "underperform" rating in a research note on Friday, November 22nd. 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.com, Community Health Systems presently has a consensus rating of "Hold" and an average target price of $4.52.

Community Health Systems Trading Down 0.3 %

Shares of NYSE:CYH traded down $0.01 during midday trading on Monday, hitting $3.06. The company had a trading volume of 1,472,410 shares, compared to its average volume of 1,704,370. The firm has a fifty day simple moving average of $3.60 and a 200 day simple moving average of $4.43. The stock has a market cap of $425.18 million, a price-to-earnings ratio of -1.01 and a beta of 1.59. Community Health Systems has a 12 month low of $2.51 and a 12 month high of $6.29.

Community Health Systems (NYSE:CYH - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.14). The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the prior year, the business earned ($0.33) EPS. Community Health Systems's quarterly revenue was up .1% on a year-over-year basis. Equities analysts forecast that Community Health Systems will post -0.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CYH. Bank of New York Mellon Corp raised its stake in shares of Community Health Systems by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 687,804 shares of the company's stock valued at $2,311,000 after buying an additional 20,150 shares during the period. Allspring Global Investments Holdings LLC grew 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 valued at $83,000 after acquiring an additional 19,886 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Community Health Systems during the second quarter worth approximately $871,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Community Health Systems in the 2nd quarter valued at $33,000. Finally, Thoroughbred Financial Services LLC raised its position in Community Health Systems by 73.5% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 39,187 shares of the company's stock worth $131,000 after purchasing an additional 16,600 shares during the period. 84.99% of the stock is owned by institutional investors.

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.