Oppenheimer Trims Community Health Systems (NYSE:CYH) Target Price to $6.00

Community Health Systems (NYSE:CYH – Get Rating) had its target price reduced by Oppenheimer from $16.00 to $6.00 in a report published on Friday, The Fly reports. They currently have a maintains rating on the stock. Oppenheimer also issued estimates for Community Health Systems’ FY2024 earnings at $1.92 EPS.

CYH has been the subject of a number of other research reports. Bank of America lowered shares of Community Health Systems from a buy rating to a neutral rating and decreased their price objective for the company from $7.50 to $5.50 in a report on Wednesday, June 15th. Citigroup decreased their price objective on shares of Community Health Systems from $18.00 to $14.00 in a report on Friday, April 29th. Loop Capital began coverage on shares of Community Health Systems in a report on Thursday, June 16th. They set a hold rating and a $5.00 price objective for the company. StockNews.com started coverage on shares of Community Health Systems in a report on Thursday, March 31st. They set a hold rating for the company. Finally, Credit Suisse Group set a $8.00 price objective on shares of Community Health Systems in a research note on Tuesday, July 19th. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, Community Health Systems currently has an average rating of Hold and a consensus target price of $9.28.

Community Health Systems Trading Up 1.7 %

CYH stock opened at $3.03 on Friday. Community Health Systems has a 12 month low of $2.81 and a 12 month high of $15.29. The company has a 50-day moving average price of $4.43 and a 200 day moving average price of $8.56. The stock has a market cap of $408.12 million, a PE ratio of -8.50 and a beta of 1.76.

Community Health Systems (NYSE:CYH – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($2.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($2.51). Community Health Systems had a negative return on equity of 20.58% and a negative net margin of 0.31%. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the prior year, the firm posted $0.23 earnings per share. Community Health Systems’s revenue for the quarter was down 2.4% on a year-over-year basis. Sell-side analysts forecast that Community Health Systems will post -2.1 EPS for the current year.

Insider Buying and Selling at Community Health Systems

In related news, Director James S. Ely III bought 10,000 shares of the company’s stock in a transaction on Tuesday, May 31st. The shares were acquired at an average price of $5.12 per share, with a total value of $51,200.00. Following the transaction, the director now owns 261,299 shares of the company’s stock, valued at $1,337,850.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 8.40% of the company’s stock.

Institutional Trading of Community Health Systems

Institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Community Health Systems in the 4th quarter worth $732,000. First Hawaiian Bank acquired a new stake in shares of Community Health Systems in the 1st quarter worth $439,000. Nuveen Asset Management LLC boosted its position in shares of Community Health Systems by 24.4% in the 4th quarter. Nuveen Asset Management LLC now owns 1,708,492 shares of the company’s stock worth $21,971,000 after purchasing an additional 334,689 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Community Health Systems by 77.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 157,700 shares of the company’s stock worth $2,099,000 after purchasing an additional 68,804 shares in the last quarter. Finally, CastleKnight Management LP purchased a new position in Community Health Systems in the 4th quarter worth $1,628,000. Institutional investors and hedge funds own 78.41% of the company’s stock.

About Community Health Systems

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Community Health Systems, Inc owns, leases, and operates general acute care hospitals in the United States. It offers general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services, as well as skilled nursing and home care services.