Cantor Fitzgerald reaffirmed their hold rating on shares of Community Health Systems (NYSE:CYH) in a research note issued to investors on Thursday, January 11th. The brokerage currently has a $6.00 price objective on the stock.
“With the successful completion of its 30-hospital divestiture plan in 2017, CYH now looks to divest another wave of hospitals with combined net revenue of $2 billion in 2018. CYH expects to have around 100 hospitals remaining in significantly improved markets, with higher margins, better managed care rates and higher cash flows.”,” Cantor Fitzgerald’s analyst wrote.
Several other analysts have also issued reports on CYH. Zacks Investment Research raised Community Health Systems from a strong sell rating to a hold rating in a research note on Tuesday, September 26th. SunTrust Banks set a $7.00 target price on Community Health Systems and gave the stock a hold rating in a research note on Sunday, October 15th. Robert W. Baird reaffirmed a hold rating and issued a $7.00 target price on shares of Community Health Systems in a research note on Wednesday, October 4th. Royal Bank of Canada reaffirmed a hold rating and issued a $5.00 target price on shares of Community Health Systems in a research note on Tuesday, November 7th. Finally, Jefferies Group reiterated a hold rating and issued a $7.00 price objective on shares of Community Health Systems in a research report on Thursday, October 12th. Seven research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. Community Health Systems currently has an average rating of Hold and a consensus target price of $6.21.
Community Health Systems (NYSE:CYH) last issued its earnings results on Wednesday, November 1st. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.47). The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.70 billion. Community Health Systems had a negative return on equity of 3.10% and a negative net margin of 3.97%. The firm’s quarterly revenue was down 16.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.35) EPS. equities analysts expect that Community Health Systems will post -1.25 EPS for the current year.
In related news, major shareholder Tian Qiao Chen acquired 100,164 shares of the stock in a transaction on Thursday, December 7th. The stock was purchased at an average price of $3.96 per share, for a total transaction of $396,649.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 1,980,484 shares of company stock valued at $7,878,489 in the last quarter. Corporate insiders own 4.70% of the company’s stock.
Several institutional investors have recently made changes to their positions in CYH. JPMorgan Chase & Co. raised its holdings in shares of Community Health Systems by 226.4% during the third quarter. JPMorgan Chase & Co. now owns 4,228,000 shares of the company’s stock valued at $31,880,000 after acquiring an additional 2,932,700 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Community Health Systems by 131.9% during the second quarter. Dimensional Fund Advisors LP now owns 4,957,164 shares of the company’s stock valued at $49,374,000 after acquiring an additional 2,819,955 shares in the last quarter. Franklin Resources Inc. bought a new position in shares of Community Health Systems during the second quarter valued at approximately $14,946,000. QS Investors LLC bought a new position in shares of Community Health Systems during the second quarter valued at approximately $5,761,000. Finally, Gotham Asset Management LLC raised its holdings in shares of Community Health Systems by 102.8% during the second quarter. Gotham Asset Management LLC now owns 963,388 shares of the company’s stock valued at $9,595,000 after acquiring an additional 488,336 shares in the last quarter.
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Community Health Systems Company Profile
Community Health Systems, Inc is an operator of general acute care hospitals and outpatient facilities in communities across the country. The Company operates through hospital operations segment, which includes its general acute care hospitals and related healthcare entities that provide inpatient and outpatient healthcare services.
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