UBS Group Issues Pessimistic Forecast for Community Health Systems (NYSE:CYH) Stock Price

Community Health Systems (NYSE:CYH) had its target price cut by analysts at UBS Group from $3.00 to $2.55 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group‘s target price points to a potential upside of 5.81% from the stock’s current price.

Several other research firms also recently weighed in on CYH. Wall Street Zen downgraded shares of Community Health Systems from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. BMO Capital Markets assumed coverage on Community Health Systems in a report on Tuesday, September 22nd. They issued a “market perform” rating and a $3.00 price target for the company. Barclays dropped 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. Royal Bank Of Canada reduced their price objective 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. Finally, Truist Financial lowered their target price on Community Health Systems from $3.75 to $3.25 and set a “hold” rating for the company in a report on Monday, July 27th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Community Health Systems presently has a consensus rating of “Reduce” and a consensus target price of $2.88.

Community Health Systems Trading Up 0.4%

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

Community Health Systems (NYSE:CYH) last announced its quarterly earnings data on Wednesday, October 28th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.19). The company 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 company’s quarterly revenue was down 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.27 EPS. As a group, sell-side analysts forecast that Community Health Systems will post -1.65 earnings per share for the current year.

Insider Buying and Selling at Community Health Systems

In other news, Director William Jennings sold 40,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 11.10% of the company’s stock.

Hedge Funds Weigh In On Community Health Systems

A number of large investors have recently bought and sold shares of the business. Prescott Group Capital Management L.L.C. lifted its holdings in Community Health Systems by 27.1% during the third quarter. Prescott Group Capital Management L.L.C. now owns 328,406 shares of the company’s stock worth $939,000 after buying an additional 70,000 shares during the period. State of Wyoming increased its holdings in shares of Community Health Systems by 21.8% in the 3rd quarter. State of Wyoming now owns 141,030 shares of the company’s stock valued at $403,000 after acquiring an additional 25,259 shares during the period. Sequoia Financial Advisors LLC bought a new position in shares of Community Health Systems in the 2nd quarter worth $64,000. Readystate Asset Management LP raised its position in shares of Community Health Systems by 37.3% in the 2nd quarter. Readystate Asset Management LP now owns 496,326 shares of the company’s stock worth $1,658,000 after acquiring an additional 134,829 shares in the last quarter. Finally, Apollo Management Holdings L.P. lifted its stake in shares of Community Health Systems by 3.2% during the 2nd quarter. Apollo Management Holdings L.P. now owns 11,859,526 shares of the company’s stock worth $39,611,000 after purchasing an additional 370,210 shares during the last quarter. Institutional investors own 84.99% of the company’s stock.

Community Health Systems Company Profile

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.