Community Health Systems (NYSE:CYH) Stock Gets Price Target Cut from Barclays

Community Health Systems (NYSE:CYH) had its price target reduced by Barclays from $2.50 to $2.00 in a report issued on Wednesday morning,Benzinga reports. Barclays currently has an underweight rating on the stock.

CYH has been the subject of several other research reports. Royal Bank Of Canada decreased their target price on Community Health Systems from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Monday, July 27th. Weiss Ratings downgraded Community Health Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 14th. Truist Financial dropped their price target on Community Health Systems from $3.25 to $2.50 and set a “hold” rating on the stock in a research report on Tuesday. UBS Group cut their price target on Community Health Systems from $3.00 to $2.55 and set a “neutral” rating for the company in a report on Friday, October 30th. Finally, Wall Street Zen cut Community Health Systems from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $2.51.

Community Health Systems Price Performance

Shares of NYSE CYH traded down $0.07 during trading hours on Wednesday, hitting $2.21. 2,270,491 shares of the stock were exchanged, compared to its average volume of 1,689,044. Community Health Systems has a one year low of $2.04 and a one year high of $3.92. The company’s 50 day moving average is $2.79 and its 200 day moving average is $3.01. The firm has a market capitalization of $310.97 million, a P/E ratio of 8.48 and a beta of 1.90.

Community Health Systems (NYSE:CYH) last announced its earnings results on Wednesday, October 28th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.19). Community Health Systems had a negative return on equity of 6.66% and a net margin of 0.31%. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter last year, the business earned $1.27 EPS. The business’s revenue was down 10.7% compared to the same quarter last year. Research analysts anticipate that Community Health Systems will post -1.54 earnings per share for the current fiscal year.

Insider Activity at Community Health Systems

In other news, Director William Jennings sold 40,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $2.96, for a total transaction of $118,400.00. Following the completion of the transaction, the director owned 38,468 shares of the company’s stock, valued at approximately $113,865.28. This represents a 50.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 11.10% of the company’s stock.

Institutional Investors Weigh In On Community Health Systems

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Community Health Systems in the 2nd quarter valued at approximately $36,508,000. Bank of America Corp DE acquired a new stake in shares of Community Health Systems during the 2nd quarter worth approximately $5,904,000. Owl Creek Asset Management L.P. increased its position in shares of Community Health Systems by 65.4% during the first quarter. Owl Creek Asset Management L.P. now owns 2,530,622 shares of the company’s stock valued at $7,440,000 after purchasing an additional 1,000,862 shares during the period. Carronade Capital Management LP raised its stake in shares of Community Health Systems by 306.7% in the first quarter. Carronade Capital Management LP now owns 1,321,923 shares of the company’s stock valued at $3,886,000 after purchasing an additional 996,923 shares in the last quarter. Finally, Whitebox Advisors LLC raised its stake in shares of Community Health Systems by 42.1% in the first quarter. Whitebox Advisors LLC now owns 3,127,884 shares of the company’s stock valued at $9,196,000 after purchasing an additional 926,364 shares in the last quarter. 84.99% of the stock is owned by institutional investors and hedge funds.

About Community Health Systems

Community Health Systems, Inc (NYSE: CYH) is a healthcare services company that owns, leases, and operates general acute-care hospitals and related healthcare facilities in the United States. The company focuses primarily on serving communities in small cities and non-urban markets, providing access to hospital-based and outpatient care.

Its services generally include emergency care, inpatient and outpatient treatment, surgery, diagnostic imaging, laboratory services, rehabilitation, and other clinical programs.