Community Health Systems (NYSE:CYH – Get Rating) had its price objective lowered by research analysts at Oppenheimer from $16.00 to $6.00 in a research note issued to investors on Friday, The Fly reports. Oppenheimer’s price objective indicates a potential upside of 102.70% from the stock’s current price.
Several other research analysts also recently issued reports on CYH. Citigroup reduced their price target on shares of Community Health Systems from $18.00 to $14.00 in a research report on Friday, April 29th. Credit Suisse Group set a $8.00 price target on shares of Community Health Systems in a research report on Tuesday, July 19th. Loop Capital started coverage on shares of Community Health Systems in a research report on Thursday, June 16th. They issued a “hold” rating and a $5.00 price target on the stock. StockNews.com assumed coverage on shares of Community Health Systems in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Bank of America cut Community Health Systems from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $7.50 to $5.50 in a research note on Wednesday, June 15th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, Community Health Systems currently has an average rating of “Hold” and an average target price of $9.44.
Community Health Systems Stock Performance
Shares of CYH opened at $2.96 on Friday. The company has a market capitalization of $398.69 million, a PE ratio of 1.33, a PEG ratio of 0.29 and a beta of 1.95. The company’s 50 day moving average price is $4.49 and its 200 day moving average price is $8.69. Community Health Systems has a 52 week low of $2.91 and a 52 week high of $15.29.
Community Health Systems (NYSE:CYH – Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The company reported ($2.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($2.51). Community Health Systems had a negative return on equity of 20.58% and a net margin of 2.36%. The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Community Health Systems’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, equities analysts forecast that Community Health Systems will post 0.91 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Community Health Systems news, Director James S. Ely III acquired 10,000 shares of the business’s stock in a transaction dated Thursday, June 2nd. The stock was bought at an average price of $5.00 per share, with a total value of $50,000.00. Following the purchase, the director now owns 301,299 shares of the company’s stock, valued at $1,506,495. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.40% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its position in Community Health Systems by 0.5% during the 1st quarter. BlackRock Inc. now owns 19,414,591 shares of the company’s stock valued at $230,450,000 after purchasing an additional 93,270 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Community Health Systems by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 10,407,148 shares of the company’s stock valued at $123,532,000 after acquiring an additional 198,080 shares during the last quarter. Eversept Partners LP boosted its holdings in shares of Community Health Systems by 11.3% during the 1st quarter. Eversept Partners LP now owns 7,126,711 shares of the company’s stock valued at $84,594,000 after acquiring an additional 724,401 shares during the last quarter. State Street Corp boosted its holdings in shares of Community Health Systems by 4.2% during the 1st quarter. State Street Corp now owns 4,163,004 shares of the company’s stock valued at $49,415,000 after acquiring an additional 167,247 shares during the last quarter. Finally, DG Capital Management LLC boosted its holdings in shares of Community Health Systems by 47.8% in the first quarter. DG Capital Management LLC now owns 3,252,869 shares of the company’s stock worth $38,612,000 after buying an additional 1,052,327 shares during the last quarter. 78.41% of the stock is currently owned by institutional investors.
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.