Royal Bank of Canada Reiterates Outperform Rating for Community Health Systems (NYSE:CYH)

Royal Bank of Canada reiterated their outperform rating on shares of Community Health Systems (NYSE:CYH) in a research note issued to investors on Monday, Benzinga reports. They currently have a $6.00 price objective on the stock.

Several other research analysts also recently commented on CYH. Truist Financial lifted their price target on shares of Community Health Systems from $3.75 to $4.25 and gave the stock a hold rating in a research note on Monday, July 15th. Wells Fargo & Company lifted their target price on shares of Community Health Systems from $3.50 to $5.00 and gave the stock an equal weight rating in a research note on Tuesday, July 30th. Finally, Oppenheimer lifted their target price on shares of Community Health Systems from $4.50 to $5.00 and gave the stock an outperform rating in a research note on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $4.73.

Community Health Systems Price Performance

Shares of Community Health Systems stock opened at $4.96 on Monday. Community Health Systems has a 1 year low of $2.01 and a 1 year high of $5.48. The firm has a market cap of $688.58 million, a PE ratio of -5.22 and a beta of 1.52. The company has a 50 day simple moving average of $3.97 and a two-hundred day simple moving average of $3.56.

Community Health Systems (NYSE:CYH) last announced its earnings results on Wednesday, July 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.05). The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period in the previous year, the firm posted ($0.22) EPS. Community Health Systems’s revenue was up .8% compared to the same quarter last year. As a group, research analysts anticipate that Community Health Systems will post -0.41 earnings per share for the current year.

Institutional Trading of Community Health Systems

A number of hedge funds have recently modified their holdings of the business. Whitebox Advisors LLC boosted its holdings in shares of Community Health Systems by 43.3% during the 2nd quarter. Whitebox Advisors LLC now owns 3,020,933 shares of the company’s stock valued at $10,150,000 after buying an additional 913,542 shares in the last quarter. Marshall Wace LLP lifted its stake in Community Health Systems by 51.0% during the 2nd 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. Bank of Montreal Can bought a new position in Community Health Systems during the 2nd quarter valued at about $3,692,000. Lombard Odier Asset Management USA Corp increased its position in shares of Community Health Systems by 8.8% during the 2nd quarter. Lombard Odier Asset Management USA Corp now owns 124,000 shares of the company’s stock valued at $417,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Hood River Capital Management LLC purchased a new stake in shares of Community Health Systems during the 2nd quarter valued at about $789,000. 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.