Community Health Systems (NYSE:CYH) Stock Gets Price Target Trim from UBS Group

Community Health Systems (NYSE:CYH) had its price target lowered by UBS Group from $3.00 to $2.55 in a research note issued to investors on Friday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Other equities analysts have also issued reports about the company. BMO Capital Markets began coverage on Community Health Systems in a research report on Tuesday, September 22nd. They set a “market perform” rating and a $3.00 price target on the stock. Weiss Ratings downgraded Community Health Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 14th. Barclays dropped their price objective on Community Health Systems from $3.00 to $2.50 and set an “underweight” rating for the company in a research note on Thursday, July 23rd. Wall Street Zen cut shares of Community Health Systems from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Finally, Royal Bank Of Canada decreased their target price on shares of Community Health Systems from $5.00 to $4.00 and set an “outperform” rating on the stock in a research note on Monday, July 27th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $2.88.

Community Health Systems Stock Up 0.4%

Community Health Systems stock opened at $2.41 on Friday. The firm has a fifty day simple moving average of $2.87 and a two-hundred day simple moving average of $3.04. Community Health Systems has a twelve month low of $2.19 and a twelve month high of $4.20. The company has a market capitalization of $339.83 million, a PE ratio of 9.27 and a beta of 1.88.

Community Health Systems (NYSE:CYH) last released its quarterly earnings data on Wednesday, October 28th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.19). Community Health Systems had a negative return on equity of 6.66% and a net margin of 0.31%. The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the prior year, the firm posted $1.27 EPS. The firm’s quarterly revenue was down 10.7% on a year-over-year basis. As a group, equities analysts expect that Community Health Systems will post -1.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Community Health Systems

In related news, Director William Jennings sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $2.96, for a total value of $118,400.00. Following the sale, the director directly owned 38,468 shares of the company’s stock, valued at $113,865.28. This trade represents a 50.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 11.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Apollo Management Holdings L.P. grew its position in shares of Community Health Systems by 3.2% in the 2nd quarter. Apollo Management Holdings L.P. now owns 11,859,526 shares of the company’s stock worth $39,611,000 after buying an additional 370,210 shares during the last quarter. BlackRock Inc. bought a new position in shares of Community Health Systems during the second quarter valued at approximately $36,508,000. Eversept Partners LP raised its holdings in shares of Community Health Systems by 9.2% during the first quarter. Eversept Partners LP now owns 8,677,281 shares of the company’s stock valued at $25,511,000 after acquiring an additional 733,479 shares in the last quarter. Whitebox Advisors LLC lifted its stake in Community Health Systems by 42.1% in the first quarter. Whitebox Advisors LLC now owns 3,127,884 shares of the company’s stock worth $9,196,000 after acquiring an additional 926,364 shares during the period. Finally, Owl Creek Asset Management L.P. lifted its stake in Community Health Systems by 65.4% in the first quarter. Owl Creek Asset Management L.P. now owns 2,530,622 shares of the company’s stock worth $7,440,000 after acquiring an additional 1,000,862 shares during the period. Institutional investors own 84.99% of the company’s stock.

About Community Health Systems

Community Health Systems, Inc (NYSE: CYH) is a healthcare services company that owns, leases, and operates general acute-care hospitals and related healthcare facilities in the United States. The company focuses primarily on serving communities in small cities and non-urban markets, providing access to hospital-based and outpatient care.

Its services generally include emergency care, inpatient and outpatient treatment, surgery, diagnostic imaging, laboratory services, rehabilitation, and other clinical programs.