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

Community Health Systems (NYSE:CYH) had its price target reduced by Truist Financial from $4.00 to $3.50 in a research report released on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other brokerages have also recently issued reports on CYH. Zacks Research upgraded Community Health Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Wells Fargo & Company dropped their target price on Community Health Systems from $3.00 to $2.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 7th. UBS Group increased their target price on Community Health Systems from $3.60 to $3.70 and gave the stock a “neutral” rating in a research report on Friday, February 20th. Finally, Weiss Ratings lowered Community Health Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, March 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $3.45.

Community Health Systems Stock Up 2.8%

CYH opened at $3.16 on Monday. Community Health Systems has a 52-week low of $2.26 and a 52-week high of $4.47. The firm has a market capitalization of $444.63 million, a P/E ratio of 0.84 and a beta of 1.97. The firm’s 50 day moving average is $3.21 and its 200-day moving average is $3.28.

Institutional Trading of Community Health Systems

Several institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Community Health Systems by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,987 shares of the company’s stock valued at $202,000 after buying an additional 3,204 shares during the period. Raymond James Financial Inc. raised its position in shares of Community Health Systems by 16.1% during the third quarter. Raymond James Financial Inc. now owns 37,582 shares of the company’s stock worth $121,000 after purchasing an additional 5,202 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Community Health Systems by 67.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 17,269 shares of the company’s stock worth $54,000 after purchasing an additional 6,971 shares during the period. Rhumbline Advisers raised its position in shares of Community Health Systems by 3.8% during the second quarter. Rhumbline Advisers now owns 206,497 shares of the company’s stock worth $702,000 after purchasing an additional 7,549 shares during the period. Finally, Royal Bank of Canada raised its position in shares of Community Health Systems by 601.9% during the fourth quarter. Royal Bank of Canada now owns 9,286 shares of the company’s stock worth $29,000 after purchasing an additional 7,963 shares during the period. Institutional investors and hedge funds own 84.99% of the company’s stock.

Community Health Systems Company Profile

Community Health Systems, Inc (NYSE: CYH) is one of the largest publicly traded hospital operators in the United States. Headquartered in Franklin, Tennessee, the company owns, leases and manages general acute care hospitals and outpatient facilities, primarily in non-urban and mid-market communities. CHS is focused on delivering locally accessible healthcare services through its network of affiliated hospitals, clinics and post-acute providers.

The company’s core offerings include inpatient medical and surgical care, emergency services, critical care, diagnostic imaging and laboratory testing.