Community Health Systems (NYSE:CYH) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Community Health Systems (NYSE:CYH) from a sell rating to a hold rating in a report released on Friday morning.

Several other analysts also recently weighed in on the company. UBS Group upped their price objective on Community Health Systems from $4.70 to $5.10 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. Barclays boosted 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 note on Thursday, October 24th. Oppenheimer increased their price target on Community Health Systems from $4.50 to $5.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company upped their target price on Community Health Systems from $3.50 to $5.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Finally, Truist Financial cut their price target on Community Health Systems from $5.50 to $5.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $5.18.

Community Health Systems Stock Performance

Shares of NYSE CYH opened at $3.70 on Friday. Community Health Systems has a 52 week low of $2.31 and a 52 week high of $6.29. The stock’s fifty day moving average is $5.16 and its 200 day moving average is $4.49. The stock has a market capitalization of $514.11 million, a P/E ratio of -1.23 and a beta of 1.60.

Community Health Systems (NYSE:CYH) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.14). The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the business posted ($0.33) earnings per share. The company’s revenue for the quarter was up .1% compared to the same quarter last year. Equities research analysts forecast that Community Health Systems will post -0.52 earnings per share for the current year.

Hedge Funds Weigh In On Community Health Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in CYH. Mirae Asset Global Investments Co. Ltd. acquired a new position in Community Health Systems in the first quarter valued at $241,000. BNP Paribas Financial Markets boosted its position in shares of Community Health Systems by 87.0% during the 1st quarter. BNP Paribas Financial Markets now owns 61,468 shares of the company’s stock valued at $215,000 after purchasing an additional 28,594 shares in the last quarter. Vanguard Group Inc. grew its stake in Community Health Systems by 0.4% during the first quarter. Vanguard Group Inc. now owns 8,124,617 shares of the company’s stock worth $28,436,000 after purchasing an additional 28,669 shares during the period. Quadrature Capital Ltd lifted its stake in Community Health Systems by 236.2% in the first quarter. Quadrature Capital Ltd now owns 105,777 shares of the company’s stock valued at $370,000 after buying an additional 74,319 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Community Health Systems by 7.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 96,027 shares of the company’s stock worth $337,000 after buying an additional 6,852 shares in the last quarter. 84.99% of the stock is owned by institutional investors and hedge funds.

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.