Community Health Systems, Inc. (NYSE:CYH) Stock Has Average Target Price of $2.51 According to Brokerages

Shares of Community Health Systems, Inc. (NYSE:CYH) have been assigned an average recommendation of “Reduce” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $2.51.

A number of equities analysts have weighed in on the stock. Barclays decreased their price target on shares of Community Health Systems from $2.50 to $2.00 and set an “underweight” rating on the stock in a report on Wednesday, November 4th. Zacks Research downgraded Community Health Systems from a “hold” rating to a “strong sell” rating in a research report on Monday, November 2nd. Truist Financial dropped their price target on Community Health Systems from $3.25 to $2.50 and set a “hold” rating for the company in a research note on Tuesday, November 3rd. BMO Capital Markets initiated coverage on Community Health Systems in a report on Tuesday, September 22nd. They issued a “market perform” rating and a $3.00 price objective on the stock. Finally, Royal Bank Of Canada reduced their price objective on Community Health Systems from $5.00 to $4.00 and set an “outperform” rating on the stock in a research note on Monday, July 27th.

Community Health Systems Price Performance

CYH opened at $2.21 on Friday. The stock has a market capitalization of $310.97 million, a price-to-earnings ratio of 8.48 and a beta of 1.90. The business has a 50-day moving average of $2.79 and a two-hundred day moving average of $3.01. Community Health Systems has a 12 month low of $2.04 and a 12 month high of $3.92.

Community Health Systems (NYSE:CYH) last announced its quarterly earnings data on Wednesday, October 28th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.19). Community Health Systems had a negative return on equity of 6.66% and a net margin of 0.31%. The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the previous year, the company earned $1.27 earnings per share. The company’s revenue was down 10.7% on a year-over-year basis. Equities research analysts anticipate that Community Health Systems will post -1.54 earnings per share for the current year.

Insider Transactions at Community Health Systems

In related news, Director William Jennings sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $2.96, for a total value of $118,400.00. Following the transaction, the director owned 38,468 shares in the company, valued at approximately $113,865.28. This trade represents a 50.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 11.10% of the company’s stock.

Institutional Trading of Community Health Systems

A number of institutional investors have recently added to or reduced their stakes in CYH. Apollo Management Holdings L.P. grew its stake in shares of Community Health Systems by 3.2% in the second quarter. Apollo Management Holdings L.P. now owns 11,859,526 shares of the company’s stock valued at $39,611,000 after buying an additional 370,210 shares in the last quarter. BlackRock Inc. acquired a new position in Community Health Systems during the 2nd quarter worth approximately $36,508,000. Eversept Partners LP boosted its holdings in Community Health Systems by 9.2% in the 1st quarter. Eversept Partners LP now owns 8,677,281 shares of the company’s stock worth $25,511,000 after acquiring an additional 733,479 shares during the period. Whitebox Advisors LLC boosted its holdings in Community Health Systems by 42.1% in the 1st quarter. Whitebox Advisors LLC now owns 3,127,884 shares of the company’s stock worth $9,196,000 after acquiring an additional 926,364 shares during the period. Finally, Owl Creek Asset Management L.P. grew its position in Community Health Systems by 65.4% in the first quarter. Owl Creek Asset Management L.P. now owns 2,530,622 shares of the company’s stock valued at $7,440,000 after acquiring an additional 1,000,862 shares in the last quarter. 84.99% of the stock is owned by hedge funds and other institutional investors.

About Community Health Systems

Community Health Systems, Inc (NYSE: CYH) is a healthcare services company that owns, leases, and operates general acute-care hospitals and related healthcare facilities in the United States. The company focuses primarily on serving communities in small cities and non-urban markets, providing access to hospital-based and outpatient care.

Its services generally include emergency care, inpatient and outpatient treatment, surgery, diagnostic imaging, laboratory services, rehabilitation, and other clinical programs.