Truist Financial Forecasts Strong Price Appreciation for Community Health Systems (NYSE:CYH) Stock

Community Health Systems (NYSE:CYH) had its target price lifted by Truist Financial from $3.50 to $4.25 in a report released on Wednesday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company restated an “underweight” rating and set a $3.50 target price (up previously from $2.00) on shares of Community Health Systems in a research report on Thursday, May 29th. UBS Group set a $3.50 price objective on Community Health Systems in a research report on Friday, April 25th. Finally, Guggenheim assumed coverage on Community Health Systems in a research report on Wednesday, April 9th. They issued a “neutral” rating on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $4.38.

Community Health Systems Stock Performance

Shares of CYH stock opened at $3.60 on Wednesday. The stock has a fifty day simple moving average of $3.62 and a two-hundred day simple moving average of $3.19. The firm has a market capitalization of $505.12 million, a PE ratio of -0.98 and a beta of 2.06. Community Health Systems has a 52-week low of $2.24 and a 52-week high of $6.29.

Community Health Systems (NYSE:CYH) last issued its earnings results on Wednesday, April 23rd. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.07. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same period last year, the business posted ($0.14) EPS. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. On average, sell-side analysts forecast that Community Health Systems will post -0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Community Health Systems

A number of institutional investors and hedge funds have recently made changes to their positions in CYH. Raymond James Financial Inc. bought a new stake in shares of Community Health Systems in the 4th quarter valued at approximately $104,000. Royce & Associates LP lifted its position in Community Health Systems by 4.5% in the fourth quarter. Royce & Associates LP now owns 1,371,342 shares of the company’s stock worth $4,100,000 after buying an additional 59,430 shares during the last quarter. Cibc World Markets Corp bought a new position in Community Health Systems during the fourth quarter valued at $35,000. Counterpoint Mutual Funds LLC raised its stake in shares of Community Health Systems by 109.2% in the fourth quarter. Counterpoint Mutual Funds LLC now owns 103,445 shares of the company’s stock valued at $309,000 after acquiring an additional 53,986 shares during the period. Finally, Intech Investment Management LLC lifted its holdings in shares of Community Health Systems by 74.3% in the 4th quarter. Intech Investment Management LLC now owns 59,303 shares of the company’s stock worth $177,000 after acquiring an additional 25,274 shares during 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 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.