Community Health Systems Inc. (NYSE:CYH)‘s stock had its “neutral” rating reissued by Mizuho in a research note issued to investors on Tuesday. They presently have a $10.50 price objective on the stock. Mizuho’s price target indicates a potential downside of 8.46% from the stock’s current price.
A number of other equities research analysts have also weighed in on the stock. Vetr lowered shares of Community Health Systems from a “strong-buy” rating to a “hold” rating and set a $11.75 price objective for the company. in a report on Monday. Citigroup Inc. set a $12.00 price objective on shares of Community Health Systems and gave the stock a “hold” rating in a report on Saturday, October 1st. Leerink Swann restated a “hold” rating on shares of Community Health Systems in a report on Tuesday, September 20th. Robert W. Baird restated a “neutral” rating and issued a $12.00 price objective on shares of Community Health Systems in a report on Monday, September 19th. Finally, Susquehanna upgraded shares of Community Health Systems from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $10.78 to $18.00 in a report on Wednesday, September 14th. Six investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.17.
Shares of Community Health Systems (NYSE:CYH) opened at 11.47 on Tuesday. The firm has a 50-day moving average of $10.75 and a 200-day moving average of $13.13. Community Health Systems has a 12-month low of $9.66 and a 12-month high of $36.55. The firm’s market capitalization is $1.27 billion.
Community Health Systems (NYSE:CYH) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.47. The business earned $4.59 billion during the quarter, compared to the consensus estimate of $4.53 billion. Community Health Systems had a positive return on equity of 2.10% and a negative net margin of 7.55%. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. Equities analysts anticipate that Community Health Systems will post $1.32 earnings per share for the current year.
In other news, major shareholder Tian Qiao Chen acquired 929,813 shares of the business’s stock in a transaction that occurred on Monday, September 26th. The shares were bought at an average cost of $10.27 per share, with a total value of $9,549,179.51. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.60% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Commonwealth Bank of Australia purchased a new stake in shares of Community Health Systems during the second quarter valued at approximately $112,000. Advisors Asset Management Inc. boosted its position in Community Health Systems by 9.6% in the second quarter. Advisors Asset Management Inc. now owns 10,750 shares of the company’s stock valued at $130,000 after buying an additional 939 shares in the last quarter. Acrospire Investment Management LLC bought a new position in Community Health Systems during the second quarter valued at about $131,000. Tower Research Capital LLC TRC boosted its position in Community Health Systems by 282.7% in the second quarter. Tower Research Capital LLC TRC now owns 11,301 shares of the company’s stock valued at $136,000 after buying an additional 8,348 shares in the last quarter. Finally, Atria Investments LLC bought a new position in Community Health Systems during the second quarter valued at about $157,000. 96.57% of the stock is currently owned by institutional investors.
About Community Health Systems
Community Health Systems, Inc is an operator of general acute care hospitals in communities. The Company provides healthcare services through the hospitals that it owns and operates and affiliated businesses in non-urban and selected urban markets throughout the United States. The Company operates through two segments: hospital operations and home care agencies operations.
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