Community Health Systems (NYSE:CYH) Raised to “Hold” at StockNews.com

Community Health Systems (NYSE:CYH) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Several other analysts have also recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $6.00 price target on shares of Community Health Systems in a research report on Monday, August 12th. Oppenheimer boosted their price objective on Community Health Systems from $4.50 to $5.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Truist Financial lowered their price objective 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. UBS Group upped their price target on Community Health Systems from $4.70 to $5.10 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. Finally, Wells Fargo & Company upped their price target on Community Health Systems from $3.50 to $5.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Community Health Systems currently has an average rating of “Hold” and an average price target of $5.18.

Community Health Systems Price Performance

Community Health Systems stock opened at $4.00 on Friday. The stock has a market capitalization of $555.10 million, a PE ratio of -1.32 and a beta of 1.60. Community Health Systems has a 12 month low of $2.31 and a 12 month high of $6.29. The business has a 50 day simple moving average of $5.24 and a 200-day simple moving average of $4.47.

Community Health Systems (NYSE:CYH) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.14). The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.08 billion. Community Health Systems’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.33) EPS. On average, equities research analysts anticipate that Community Health Systems will post -0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Community Health Systems

Several hedge funds have recently bought and sold shares of the stock. 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 holdings in Community Health Systems by 87.0% in the first 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 during the last quarter. Vanguard Group Inc. boosted its holdings in Community Health Systems by 0.4% in the first quarter. Vanguard Group Inc. now owns 8,124,617 shares of the company’s stock valued at $28,436,000 after purchasing an additional 28,669 shares during the last quarter. Quadrature Capital Ltd boosted its holdings 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 purchasing an additional 74,319 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Community Health Systems by 7.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 96,027 shares of the company’s stock valued at $337,000 after purchasing an additional 6,852 shares during the last quarter. Hedge funds and other institutional investors own 84.99% 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.