Robert W. Baird Reaffirms “Hold” Rating for Community Health Systems, Inc. (CYH)

Robert W. Baird reaffirmed their hold rating on shares of Community Health Systems, Inc. (NYSE:CYH) in a research report sent to investors on Wednesday, October 4th. They currently have a $7.00 price target on the stock.

A number of other research firms have also weighed in on CYH. Zacks Investment Research raised shares of Community Health Systems from a hold rating to a buy rating and set a $11.00 price target for the company in a report on Tuesday, July 11th. BidaskClub raised shares of Community Health Systems from a sell rating to a hold rating in a report on Tuesday, June 27th. Piper Jaffray Companies reissued a sell rating and set a $9.00 price objective on shares of Community Health Systems in a report on Wednesday, July 26th. Morgan Stanley started coverage on shares of Community Health Systems in a report on Tuesday, June 6th. They set an underweight rating and a $9.50 price objective for the company. Finally, ValuEngine raised shares of Community Health Systems from a sell rating to a hold rating in a report on Friday, September 1st. Seven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company. Community Health Systems has an average rating of Hold and an average price target of $7.52.

Shares of Community Health Systems (NYSE CYH) remained flat at $5.90 during midday trading on Wednesday. The company had a trading volume of 632,878 shares. Community Health Systems has a 1-year low of $4.15 and a 1-year high of $10.67. The stock’s market cap is $660.42 million. The stock has a 50 day moving average price of $7.25 and a 200 day moving average price of $8.36.

Community Health Systems (NYSE:CYH) last released its quarterly earnings results on Tuesday, August 1st. The company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.31). The firm had revenue of $4.14 billion for the quarter, compared to analyst estimates of $4.14 billion. Community Health Systems had a negative net margin of 3.63% and a positive return on equity of 0.07%. Community Health Systems’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.09 earnings per share. Equities analysts anticipate that Community Health Systems will post ($0.37) earnings per share for the current fiscal year.

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In other news, major shareholder Tian Qiao Chen acquired 9,766,897 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were purchased at an average cost of $7.27 per share, for a total transaction of $71,005,341.19. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.70% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Community Health Systems by 38,765.3% in the 1st quarter. BlackRock Inc. now owns 14,685,650 shares of the company’s stock valued at $130,263,000 after purchasing an additional 14,647,864 shares during the last quarter. Vanguard Group Inc. lifted its position in Community Health Systems by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 10,377,548 shares of the company’s stock valued at $103,361,000 after purchasing an additional 424,006 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Community Health Systems by 131.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,957,164 shares of the company’s stock worth $49,374,000 after buying an additional 2,819,955 shares in the last quarter. Saba Capital Management L.P. raised its position in shares of Community Health Systems by 8.8% during the 1st quarter. Saba Capital Management L.P. now owns 3,706,181 shares of the company’s stock worth $32,874,000 after buying an additional 300,712 shares in the last quarter. Finally, State Street Corp raised its position in shares of Community Health Systems by 0.8% during the 1st quarter. State Street Corp now owns 3,292,332 shares of the company’s stock worth $29,203,000 after buying an additional 25,290 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

About Community Health Systems

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.

Analyst Recommendations for Community Health Systems (NYSE:CYH)

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