Truist Financial Cuts Community Health Systems (NYSE:CYH) Price Target to $5.00

Community Health Systems (NYSE:CYH - Get Free Report) had its target price reduced by stock analysts at Truist Financial from $5.50 to $5.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a "hold" rating on the stock. Truist Financial's target price suggests a potential upside of 25.31% from the stock's current price.

A number of other equities research analysts have also recently weighed in on CYH. Barclays upped their price objective on shares of Community Health Systems from $3.00 to $5.00 and gave the stock an "equal weight" rating in a report on Thursday. UBS Group boosted their target price on Community Health Systems from $4.70 to $5.10 and gave the stock a "neutral" rating in a report on Wednesday, August 14th. Royal Bank of Canada restated an "outperform" rating and set a $6.00 price target on shares of Community Health Systems in a report on Monday, August 12th. Oppenheimer upped their price target on shares of Community Health Systems from $4.50 to $5.00 and gave the stock an "outperform" rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company raised their price objective on shares of Community Health Systems from $3.50 to $5.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $5.18.

Community Health Systems Price Performance

CYH stock traded down $0.26 during trading on Friday, reaching $3.99. The company had a trading volume of 5,166,316 shares, compared to its average volume of 1,800,804. Community Health Systems has a 52 week low of $2.01 and a 52 week high of $6.29. The business has a 50 day moving average of $5.52 and a 200 day moving average of $4.35. The company has a market cap of $554.47 million, a P/E ratio of -4.20 and a beta of 1.55.

Community Health Systems (NYSE:CYH - Get Free Report) last issued its quarterly 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 company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.08 billion. The firm's revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.33) earnings per share. Research analysts expect that Community Health Systems will post -0.41 earnings per share for the current year.

Institutional Investors Weigh In On Community Health Systems

A number of hedge funds have recently added to or reduced their stakes in CYH. nVerses Capital LLC bought a new position in shares of Community Health Systems in the 2nd quarter worth approximately $25,000. DekaBank Deutsche Girozentrale bought a new position in Community Health Systems in the second quarter worth approximately $33,000. Signaturefd LLC bought a new stake in shares of Community Health Systems during the 3rd quarter valued at $33,000. Canada Pension Plan Investment Board purchased a new stake in shares of Community Health Systems in the 2nd quarter worth $45,000. Finally, CWM LLC raised its holdings in Community Health Systems by 32.1% in 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 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.