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

Community Health Systems (NYSE:CYH) had its price objective reduced by Truist Financial from $5.00 to $3.50 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a hold rating on the stock.

A number of other analysts have also commented on CYH. Wells Fargo & Company lowered shares of Community Health Systems from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $5.00 to $2.50 in a research note on Monday, November 25th. Raymond James lowered shares of Community Health Systems from a “market perform” rating to an “underperform” rating in a research note on Friday, November 22nd. Barclays raised their price target on 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. Finally, StockNews.com cut Community Health Systems from a “hold” rating to a “sell” rating in a research report on Monday, November 25th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $4.52.

Community Health Systems Stock Down 0.3 %

Shares of CYH opened at $3.06 on Monday. The company has a market capitalization of $425.18 million, a P/E ratio of -1.01 and a beta of 1.59. Community Health Systems has a twelve month low of $2.51 and a twelve month high of $6.29. The firm has a 50 day moving average of $3.60 and a 200 day moving average of $4.43.

Community Health Systems (NYSE:CYH) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.14). The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the company earned ($0.33) EPS. Community Health Systems’s revenue was up .1% on a year-over-year basis. On average, sell-side analysts expect that Community Health Systems will post -0.56 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Whitebox Advisors LLC increased its holdings in Community Health Systems by 43.3% in the 2nd quarter. Whitebox Advisors LLC now owns 3,020,933 shares of the company’s stock worth $10,150,000 after acquiring an additional 913,542 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Community Health Systems by 2.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,748,786 shares of the company’s stock valued at $5,875,000 after purchasing an additional 43,145 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Community Health Systems by 6.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,616,212 shares of the company’s stock valued at $9,810,000 after buying an additional 91,985 shares in the last quarter. Bank of Montreal Can purchased a new stake in Community Health Systems in the 2nd quarter worth $3,692,000. Finally, Marshall Wace LLP raised its holdings in Community Health Systems by 51.0% during the second quarter. Marshall Wace LLP now owns 942,303 shares of the company’s stock valued at $3,166,000 after acquiring an additional 318,333 shares during the period. 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.