Community Health Systems (NYSE:CYH) Stock Price Target Lowered at Barclays

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

Several other brokerages have also weighed in on CYH. UBS Group cut their price objective on shares of Community Health Systems from $3.00 to $2.55 and set a “neutral” rating on the stock in a report on Friday, October 30th. Zacks Research lowered shares of Community Health Systems from a “hold” rating to a “strong sell” rating in a research note on Monday. Wall Street Zen cut Community Health Systems from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Truist Financial reduced their target price on Community Health Systems from $3.25 to $2.50 and set a “hold” rating for the company in a research note on Tuesday. Finally, Wells Fargo & Company lowered their price objective on Community Health Systems from $2.00 to $1.00 and set an “underweight” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $2.51.

Community Health Systems Price Performance

CYH opened at $2.35 on Wednesday. Community Health Systems has a fifty-two week low of $2.04 and a fifty-two week high of $3.92. The company has a market capitalization of $331.70 million, a P/E ratio of 9.05 and a beta of 1.90. The firm’s fifty day moving average price is $2.82 and its two-hundred day moving average price is $3.02.

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

Insider Activity at Community Health Systems

In related news, Director William Jennings sold 40,000 shares of Community Health Systems stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $2.96, for a total transaction of $118,400.00. Following the transaction, the director owned 38,468 shares of the company’s stock, valued at $113,865.28. The trade was a 50.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 11.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc purchased a new position in Community Health Systems during the second quarter worth about $45,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Community Health Systems during the first quarter worth about $40,000. Sequoia Financial Advisors LLC bought a new position in shares of Community Health Systems during the second quarter valued at approximately $64,000. Pallas Capital Advisors LLC purchased a new stake in shares of Community Health Systems in the 2nd quarter worth about $74,000. Finally, M Holdings Securities Inc. bought a new position in Community Health Systems in the third quarter worth about $72,000. 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.