CYH has been the subject of a number of other reports. Truist Financial decreased their target price on Community Health Systems from $5.00 to $3.50 and set a “hold” rating for the company in a research note on Wednesday, October 11th. Oppenheimer reaffirmed an “outperform” rating and set a $6.50 price objective on shares of Community Health Systems in a research report on Monday, August 7th. Wells Fargo & Company reduced their price objective on Community Health Systems from $5.00 to $3.00 and set an “equal weight” rating for the company in a research report on Friday, October 20th. Finally, Royal Bank of Canada reduced their price objective on Community Health Systems from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Monday, October 30th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $5.50.
Community Health Systems Stock Down 1.7 %
Community Health Systems (NYSE:CYH – Get Free Report) last posted its earnings results on Wednesday, October 25th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.17). Community Health Systems had a net margin of 1.88% and a negative return on equity of 5.51%. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same period in the previous year, the firm posted ($0.52) earnings per share. The firm’s revenue was up 2.0% on a year-over-year basis. Analysts expect that Community Health Systems will post -0.95 EPS for the current fiscal year.
Insider Buying and Selling
In other Community Health Systems news, Director Wayne T. Smith acquired 1,000,000 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were purchased at an average price of $2.11 per share, for a total transaction of $2,110,000.00. Following the completion of the purchase, the director now directly owns 5,107,901 shares of the company’s stock, valued at $10,777,671.11. The transaction was disclosed in a document filed with the SEC, which is available through this link. 9.90% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Community Health Systems
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Community Health Systems by 0.5% in the first quarter. BlackRock Inc. now owns 19,414,591 shares of the company’s stock valued at $230,450,000 after purchasing an additional 93,270 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Community Health Systems by 1.9% in the first quarter. Vanguard Group Inc. now owns 10,407,148 shares of the company’s stock valued at $123,532,000 after purchasing an additional 198,080 shares during the last quarter. Morgan Stanley grew its position in shares of Community Health Systems by 364.7% in the fourth quarter. Morgan Stanley now owns 8,824,501 shares of the company’s stock valued at $38,122,000 after purchasing an additional 6,925,737 shares during the last quarter. Invesco Ltd. grew its position in shares of Community Health Systems by 16.4% in the third quarter. Invesco Ltd. now owns 6,239,749 shares of the company’s stock valued at $18,095,000 after purchasing an additional 879,784 shares during the last quarter. Finally, State Street Corp grew its position in shares of Community Health Systems by 2.0% in the second quarter. State Street Corp now owns 5,350,276 shares of the company’s stock valued at $23,541,000 after purchasing an additional 106,494 shares during the last quarter. Institutional investors and hedge funds own 76.80% of the company’s stock.
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.
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