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

Community Health Systems (NYSE:CYH) had its price objective cut by Barclays from $4.00 to $3.50 in a report published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

CYH has been the subject of a number of other research reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $3.00 price objective (down previously from $4.25) on shares of Community Health Systems in a research report on Thursday. UBS Group set a $3.50 price target on Community Health Systems in a research report on Friday, April 25th. Guggenheim started coverage on Community Health Systems in a report on Wednesday, April 9th. They issued a “neutral” rating on the stock. Truist Financial upped their price objective on Community Health Systems from $3.50 to $4.25 and gave the stock a “hold” rating in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company reiterated an “underweight” rating and issued a $3.50 target price (up from $2.00) on shares of Community Health Systems in a research note on Thursday, May 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Community Health Systems presently has an average rating of “Hold” and an average price target of $3.74.

Community Health Systems Trading Down 4.7%

Shares of NYSE:CYH opened at $2.77 on Thursday. Community Health Systems has a 12-month low of $2.24 and a 12-month high of $6.29. The firm has a market cap of $387.96 million, a PE ratio of -1.86 and a beta of 2.06. The company has a fifty day simple moving average of $3.55 and a 200 day simple moving average of $3.21.

Community Health Systems (NYSE:CYH) last issued its earnings results on Wednesday, July 23rd. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.10). The firm had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.02 billion. The company’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the firm posted ($0.17) EPS. As a group, equities research 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 added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its stake in shares of Community Health Systems by 250.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,023 shares of the company’s stock worth $27,000 after buying an additional 6,445 shares in the last quarter. R Squared Ltd raised its position in Community Health Systems by 71.6% in the first quarter. R Squared Ltd now owns 10,950 shares of the company’s stock worth $30,000 after acquiring an additional 4,570 shares in the last quarter. Two Sigma Securities LLC bought a new position in shares of Community Health Systems during the 4th quarter valued at about $33,000. Cibc World Markets Corp acquired a new position in shares of Community Health Systems in the 4th quarter worth approximately $35,000. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Community Health Systems in the 1st quarter worth approximately $36,000. 84.99% of the stock is owned by institutional investors.

Community Health Systems Company Profile

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.