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

Community Health Systems (NYSE:CYH) had its price target cut 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 objective suggests a potential upside of 15.13% from the stock’s previous close.

Several other research analysts also recently weighed in on CYH. Barclays lifted their target price on shares of 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. Wells Fargo & Company lowered Community Health Systems from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $5.00 to $2.50 in a report on Monday, November 25th. Raymond James lowered Community Health Systems from a “market perform” rating to an “underperform” rating in a research report on Friday, November 22nd. Finally, StockNews.com downgraded Community Health Systems from a “hold” rating to a “sell” rating in a report on Monday, November 25th. Three 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $4.52.

Community Health Systems Price Performance

Community Health Systems stock opened at $3.04 on Monday. Community Health Systems has a 12-month low of $2.51 and a 12-month high of $6.29. The company has a market capitalization of $422.40 million, a price-to-earnings ratio of -1.01 and a beta of 1.59. The firm’s fifty day moving average price is $3.58 and its 200 day moving average price is $4.43.

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

Hedge Funds Weigh In On Community Health Systems

Several institutional investors have recently bought and sold shares of CYH. Franklin Resources Inc. lifted its holdings in Community Health Systems by 4.1% in the 3rd quarter. Franklin Resources Inc. now owns 75,520 shares of the company’s stock worth $422,000 after purchasing an additional 2,989 shares during the last quarter. Barclays PLC boosted its holdings in shares of Community Health Systems by 1,278.2% during the 3rd quarter. Barclays PLC now owns 707,805 shares of the company’s stock worth $4,296,000 after buying an additional 656,447 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Community Health Systems in the 3rd quarter worth $500,000. Algert Global LLC lifted its position in Community Health Systems by 39.5% during the 3rd quarter. Algert Global LLC now owns 158,587 shares of the company’s stock worth $963,000 after acquiring an additional 44,944 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Community Health Systems in the third quarter valued at about $207,000. 84.99% of the stock is currently owned by 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.