Community Health Systems (NYSE:CYH) Stock Price Target Cut by UBS Group

Key Points

• UBS Group cut Community Health Systems’ price target from $3.00 to $2.55 while maintaining a “neutral” rating, implying about 5.8% upside from the $2.41 share price.
• Analyst sentiment remains cautious: the stock has one Buy, four Hold, and three Sell ratings, resulting in a “Reduce” consensus and an average price target of $2.88.
• Community Health Systems recently missed quarterly expectations, reporting a $0.48 per-share loss versus a projected $0.29 loss and revenue of $2.76 billion, down 10.7% year over year.

Community Health Systems (NYSE:CYH - Get Free Report) had its target price cut by analysts at UBS Group from $3.00 to $2.55 in a research report issued on Friday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's target price would suggest a potential upside of 5.81% from the stock's current price.

Several other research analysts also recently commented on the stock. BMO Capital Markets began coverage on shares of Community Health Systems in a report on Tuesday, September 22nd. They set a "market perform" rating and a $3.00 price objective for the company. Wall Street Zen downgraded Community Health Systems from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Barclays cut their price target on Community Health Systems from $3.00 to $2.50 and set an "underweight" rating for the company in a report on Thursday, July 23rd. Royal Bank Of Canada lowered their target price on Community Health Systems from $5.00 to $4.00 and set an "outperform" rating for the company in a research report on Monday, July 27th. Finally, Weiss Ratings lowered shares of Community Health Systems from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, October 14th. One investment 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 MarketBeat, the company has an average rating of "Reduce" and an average price target of $2.88.

Community Health Systems Price Performance

CYH stock opened at $2.41 on Friday. The stock's fifty day moving average price is $2.87 and its 200-day moving average price is $3.04. Community Health Systems has a 1 year low of $2.19 and a 1 year high of $4.20. The company has a market cap of $339.83 million, a P/E ratio of 9.27 and a beta of 1.88.

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

Insider Buying and Selling

In other Community Health Systems news, Director William Jennings sold 40,000 shares of the business's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $2.96, for a total transaction of $118,400.00. Following the transaction, the director owned 38,468 shares in the company, valued at $113,865.28. The trade was a 50.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 11.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Community Health Systems

Large investors have recently made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new stake in Community Health Systems in the 1st quarter worth about $40,000. Legal & General Group Plc purchased a new position in shares of Community Health Systems during the second quarter valued at approximately $45,000. Sequoia Financial Advisors LLC purchased a new position in shares of Community Health Systems during the second quarter valued at approximately $64,000. Pallas Capital Advisors LLC bought a new position in shares of Community Health Systems during the second quarter valued at approximately $74,000. Finally, Callan Family Office LLC bought a new position in shares of Community Health Systems during the second quarter valued at approximately $96,000. 84.99% of the stock is owned by hedge funds and other institutional investors.

Community Health Systems Company Profile

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.

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