Community Health Systems (NYSE:CYH) Stock Price Target Cut by UBS Group

Community Health Systems (NYSE:CYH) had its target price dropped by equities research analysts at UBS Group from $3.00 to $2.55 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group‘s price target would suggest a potential upside of 5.81% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Royal Bank Of Canada lowered their target price on Community Health Systems from $5.00 to $4.00 and set an “outperform” rating on the stock in a report 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. Barclays decreased their price objective on Community Health Systems from $3.00 to $2.50 and set an “underweight” rating on the stock in a research note on Thursday, July 23rd. Wall Street Zen downgraded Community Health Systems from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Finally, BMO Capital Markets assumed coverage on shares of Community Health Systems in a research report on Tuesday, September 22nd. They set a “market perform” rating and a $3.00 price objective on the stock. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Community Health Systems has a consensus rating of “Reduce” and a consensus price target of $2.88.

Community Health Systems Trading Up 0.4%

CYH opened at $2.41 on Friday. The company has a market cap of $339.83 million, a P/E ratio of 9.27 and a beta of 1.88. The business’s 50-day moving average price is $2.87 and its 200-day moving average price is $3.04. Community Health Systems has a 12 month low of $2.19 and a 12 month high of $4.20.

Community Health Systems (NYSE:CYH) last posted its quarterly earnings data on Wednesday, October 28th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.19). The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.80 billion. Community Health Systems had a net margin of 0.31% and a negative return on equity of 6.66%. The business’s revenue was down 10.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.27 earnings per share. Equities research analysts forecast that Community Health Systems will post -1.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Community Health Systems news, Director William Jennings sold 40,000 shares of Community Health Systems stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $2.96, for a total value of $118,400.00. Following the sale, the director directly owned 38,468 shares in the company, valued at approximately $113,865.28. The trade was a 50.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 11.10% of the company’s stock.

Institutional Investors Weigh In On Community Health Systems

Several large investors have recently made changes to their positions in CYH. BlackRock Inc. purchased a new position in Community Health Systems during the 2nd quarter valued at about $36,508,000. Bank of America Corp DE purchased a new stake in shares of Community Health Systems during the second quarter valued at $5,904,000. Helix Partners Management LP acquired a new stake in shares of Community Health Systems during the 2nd quarter valued at about $1,336,000. Carronade Capital Management LP raised its stake in Community Health Systems by 306.7% in the 1st 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 during the last quarter. Finally, Whitebox Advisors LLC grew its holdings in Community Health Systems by 42.1% in the 1st quarter. Whitebox Advisors LLC now owns 3,127,884 shares of the company’s stock valued at $9,196,000 after buying an additional 926,364 shares in the last quarter. 84.99% of the stock is owned by institutional investors.

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.