Several other research firms also recently weighed in on CYH. Royal Bank of Canada dropped their price target on Community Health Systems from $7.00 to $6.00 and set an outperform rating for the company in a research report on Monday, October 30th. Wells Fargo & Company dropped their price target on Community Health Systems from $5.00 to $3.00 and set an equal weight rating for the company in a research report on Friday, October 20th. Truist Financial dropped their price target on Community Health Systems from $5.00 to $3.50 and set a hold rating for the company in a research report on Wednesday, October 11th. Finally, Oppenheimer reissued an outperform rating and set a $6.50 price target on shares of Community Health Systems in a research report on Monday, August 7th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $5.50.
Community Health Systems Price Performance
Community Health Systems (NYSE:CYH – Get Free Report) last released its quarterly earnings data on Wednesday, October 25th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.17). Community Health Systems had a net margin of 1.88% and a negative return on equity of 5.51%. The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the previous year, the business earned ($0.52) earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, research analysts expect that Community Health Systems will post -0.95 earnings per share for the current fiscal year.
Insider Transactions at Community Health Systems
In other Community Health Systems news, Director Wayne T. Smith acquired 1,000,000 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were acquired at an average price of $2.11 per share, for a total transaction of $2,110,000.00. Following the completion of the acquisition, the director now directly owns 5,107,901 shares of the company’s stock, valued at $10,777,671.11. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 9.90% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors boosted its holdings in Community Health Systems by 195.5% in the first quarter. Captrust Financial Advisors now owns 5,794 shares of the company’s stock valued at $69,000 after acquiring an additional 3,833 shares during the last quarter. Compass Wealth Management LLC acquired a new position in shares of Community Health Systems during the fourth quarter worth about $33,000. Metropolitan Life Insurance Co NY lifted its stake in shares of Community Health Systems by 83.3% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 7,840 shares of the company’s stock worth $34,000 after purchasing an additional 3,562 shares in the last quarter. Apollon Wealth Management LLC acquired a new position in shares of Community Health Systems during the second quarter worth about $44,000. Finally, Green Square Capital Advisors LLC acquired a new position in shares of Community Health Systems during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 76.80% of the company’s stock.
Community Health Systems Company Profile
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.
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