Vetr upgraded shares of Community Health Systems Inc. (NYSE:CYH) from a hold rating to a buy rating in a report issued on Monday. They currently have $11.75 price target on the stock.
CYH has been the subject of a number of other reports. Leerink Swann reiterated a hold rating on shares of Community Health Systems in a research note on Tuesday, October 4th. Barclays PLC reiterated a hold rating and issued a $15.00 price target on shares of Community Health Systems in a research note on Friday, August 19th. Credit Suisse Group AG began coverage on Community Health Systems in a research note on Friday, July 29th. They issued a neutral rating and a $14.00 price target for the company. Morgan Stanley restated a sell rating and issued a $15.00 price objective on shares of Community Health Systems in a research note on Wednesday, August 3rd. Finally, Robert W. Baird restated a neutral rating and issued a $12.00 price objective on shares of Community Health Systems in a research note on Monday, September 19th. Six research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company. Community Health Systems currently has an average rating of Hold and a consensus target price of $16.17.
Community Health Systems (NYSE:CYH) opened at 10.53 on Monday. The company has a 50-day moving average price of $10.81 and a 200-day moving average price of $13.00. The stock’s market capitalization is $1.17 billion. Community Health Systems has a 12-month low of $9.66 and a 12-month high of $35.30.
Community Health Systems (NYSE:CYH) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by $0.47. Community Health Systems had a negative net margin of 7.55% and a positive return on equity of 2.10%. The business earned $4.59 billion during the quarter, compared to analysts’ expectations of $4.53 billion. The company’s revenue was down 6.0% compared to the same quarter last year. Analysts expect that Community Health Systems will post $1.32 earnings per share for the current fiscal year.
In related news, major shareholder Tian Qiao Chen acquired 929,813 shares of Community Health Systems stock in a transaction that occurred on Monday, September 26th. The shares were purchased at an average price of $10.27 per share, for a total transaction of $9,549,179.51. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.60% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP bought a new position in shares of Community Health Systems during the first quarter worth approximately $157,109,000. SHANDA ASSET MANAGEMENT HOLDINGS Ltd bought a new position in shares of Community Health Systems during the second quarter worth approximately $59,988,000. Kohlberg Kravis Roberts & Co. L.P. bought a new position in shares of Community Health Systems during the second quarter worth approximately $41,896,000. JPMorgan Chase & Co. increased its position in shares of Community Health Systems by 417.6% in the second quarter. JPMorgan Chase & Co. now owns 2,404,267 shares of the company’s stock worth $28,971,000 after buying an additional 1,939,765 shares during the last quarter. Finally, BlackRock Fund Advisors increased its position in shares of Community Health Systems by 41.7% in the second quarter. BlackRock Fund Advisors now owns 6,020,839 shares of the company’s stock worth $72,551,000 after buying an additional 1,771,171 shares during the last quarter. Hedge funds and other institutional investors own 96.57% of the company’s stock.
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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