Community Health Systems (NYSE:CYH – Get Rating) was downgraded by research analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, The Fly reports.
CYH has been the topic of a number of other reports. StockNews.com started coverage on shares of Community Health Systems in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Citigroup reduced their target price on shares of Community Health Systems from $18.00 to $14.00 in a research report on Friday, April 29th. Wells Fargo & Company initiated coverage on shares of Community Health Systems in a research report on Monday, March 28th. They set an “equal weight” rating and a $12.00 target price on the stock. Finally, Credit Suisse Group cut their price objective on shares of Community Health Systems to $10.50 in a report on Friday, June 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Community Health Systems currently has a consensus rating of “Hold” and an average price target of $12.88.
Shares of NYSE:CYH opened at $4.79 on Wednesday. Community Health Systems has a 12 month low of $4.54 and a 12 month high of $16.66. The company has a 50-day moving average price of $7.48 and a 200 day moving average price of $10.60. The company has a market cap of $645.18 million, a price-to-earnings ratio of 2.16, a PEG ratio of 0.91 and a beta of 1.86.
Community Health Systems (NYSE:CYH – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.16 billion. Community Health Systems had a net margin of 2.36% and a negative return on equity of 20.58%. During the same quarter last year, the firm earned $0.36 EPS. As a group, equities research analysts predict that Community Health Systems will post 1.13 earnings per share for the current fiscal year.
In related news, Director James S. Ely III acquired 10,000 shares of the stock in a transaction dated Thursday, June 2nd. The stock was acquired at an average cost of $5.00 per share, for a total transaction of $50,000.00. Following the completion of the purchase, the director now owns 301,299 shares of the company’s stock, valued at approximately $1,506,495. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 8.40% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new position in Community Health Systems during the fourth quarter valued at $732,000. Nuveen Asset Management LLC increased its holdings in Community Health Systems by 24.4% in the fourth quarter. Nuveen Asset Management LLC now owns 1,708,492 shares of the company’s stock valued at $21,971,000 after buying an additional 334,689 shares in the last quarter. UBS Asset Management Americas Inc. increased its holdings in Community Health Systems by 21.9% in the third quarter. UBS Asset Management Americas Inc. now owns 138,622 shares of the company’s stock valued at $1,622,000 after buying an additional 24,868 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Community Health Systems by 77.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 157,700 shares of the company’s stock valued at $2,099,000 after buying an additional 68,804 shares in the last quarter. Finally, CastleKnight Management LP purchased a new position in Community Health Systems in the fourth quarter valued at $1,628,000. Institutional investors own 78.41% of the company’s stock.
Community Health Systems Company Profile (Get Rating)
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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