Barclays Cuts Community Health Systems (NYSE:CYH) Price Target to $3.50

Community Health Systems (NYSE:CYH - Free Report) had its target price reduced by Barclays from $4.00 to $3.50 in a research report released on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts also recently commented on the stock. UBS Group set a $3.50 price target on shares of Community Health Systems in a report on Friday, April 25th. Jefferies Financial Group restated a "hold" rating and set a $3.00 price target (down previously from $4.25) on shares of Community Health Systems in a research report on Thursday. Guggenheim initiated coverage on Community Health Systems in a research report on Wednesday, April 9th. They set a "neutral" rating on the stock. Wells Fargo & Company reissued an "underweight" rating and issued a $3.50 price target (up from $2.00) on shares of Community Health Systems in a research note on Thursday, May 29th. Finally, Truist Financial boosted their price target on shares of Community Health Systems from $3.50 to $4.25 and gave the stock a "hold" rating in a research note on Wednesday, July 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Community Health Systems has an average rating of "Hold" and an average target price of $3.74.

Community Health Systems Trading Down 4.7%

Shares of NYSE:CYH traded down $0.14 during midday trading on Thursday, reaching $2.77. The company had a trading volume of 7,086,531 shares, compared to its average volume of 3,258,186. The company's 50 day moving average price is $3.55 and its 200 day moving average price is $3.21. The stock has a market cap of $387.96 million, a P/E ratio of -1.86 and a beta of 2.06. Community Health Systems has a 52-week low of $2.24 and a 52-week high of $6.29.

Community Health Systems (NYSE:CYH - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.10). The business had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.02 billion. The firm's revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.17) earnings per share. Research analysts forecast that Community Health Systems will post -0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Community Health Systems

A number of hedge funds have recently modified their holdings of CYH. Nomura Holdings Inc. increased its position in shares of Community Health Systems by 14,684.8% in the first quarter. Nomura Holdings Inc. now owns 5,776,701 shares of the company's stock valued at $15,597,000 after acquiring an additional 5,737,629 shares during the period. Helix Partners Management LP purchased a new position in shares of Community Health Systems in the fourth quarter valued at about $4,923,000. Columbus Hill Capital Management L.P. purchased a new position in shares of Community Health Systems in the fourth quarter valued at about $3,887,000. Renaissance Technologies LLC increased its position in shares of Community Health Systems by 913.9% during the fourth quarter. Renaissance Technologies LLC now owns 1,420,393 shares of the company's stock valued at $4,247,000 after buying an additional 1,280,300 shares during the period. Finally, DG Capital Management LLC increased its position in shares of Community Health Systems by 54.8% during the fourth quarter. DG Capital Management LLC now owns 3,502,511 shares of the company's stock valued at $10,473,000 after buying an additional 1,240,413 shares during the period. Hedge funds and other institutional investors own 84.99% 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.