Goldman Sachs Group Inc. Cuts Stake in Community Health Systems, Inc. $CYH

Key Points

• Goldman Sachs Group Inc. has reduced its holdings in Community Health Systems by 27.2%, selling 574,431 shares during the first quarter, now owning about 1.10% of the company's stock valued at $4.16 million.
• Recent analyst reports have set varying target prices for Community Health Systems, with Royal Bank of Canada lowering its target from $6.00 to $5.00, while Wells Fargo cut its price objective from $3.50 to $2.50.
• Community Health Systems reported a loss of $0.05 EPS for the last quarter, missing consensus estimates, despite revenues of $3.13 billion, slightly surpassing expectations.

Goldman Sachs Group Inc. reduced its position in shares of Community Health Systems, Inc. (NYSE:CYH - Free Report) by 27.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,540,879 shares of the company's stock after selling 574,431 shares during the quarter. Goldman Sachs Group Inc. owned about 1.10% of Community Health Systems worth $4,160,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Teacher Retirement System of Texas bought a new position in shares of Community Health Systems during the 1st quarter valued at approximately $1,021,000. Cubist Systematic Strategies LLC bought a new position in shares of Community Health Systems during the 1st quarter valued at approximately $695,000. Russell Investments Group Ltd. lifted its position in Community Health Systems by 29.1% in the first quarter. Russell Investments Group Ltd. now owns 209,043 shares of the company's stock worth $564,000 after buying an additional 47,067 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Community Health Systems by 6.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 308,176 shares of the company's stock worth $921,000 after buying an additional 18,612 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its position in Community Health Systems by 9.8% in the first quarter. Hsbc Holdings PLC now owns 114,595 shares of the company's stock worth $309,000 after buying an additional 10,184 shares during the last quarter. 84.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CYH. Royal Bank Of Canada lowered their price target on Community Health Systems from $6.00 to $5.00 and set an "outperform" rating for the company in a research report on Friday, July 25th. Jefferies Financial Group restated a "hold" rating and issued a $3.00 price target (down from $4.25) on shares of Community Health Systems in a research report on Thursday, July 24th. UBS Group lowered their price target on Community Health Systems from $3.50 to $3.20 and set a "neutral" rating for the company in a research report on Friday, July 25th. Barclays lowered their price target on Community Health Systems from $4.00 to $3.50 and set an "equal weight" rating for the company in a research report on Thursday, July 24th. Finally, Truist Financial increased their target price on Community Health Systems from $3.50 to $4.25 and gave the stock a "hold" rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $3.58.

Community Health Systems Stock Performance

CYH stock traded down $0.04 during midday trading on Friday, reaching $3.04. The company's stock had a trading volume of 2,868,803 shares, compared to its average volume of 1,494,036. The stock has a fifty day simple moving average of $2.90 and a two-hundred day simple moving average of $3.05. Community Health Systems, Inc. has a 1 year low of $2.24 and a 1 year high of $6.29. The firm has a market capitalization of $425.96 million, a price-to-earnings ratio of -2.04 and a beta of 1.90.

Community Health Systems (NYSE:CYH - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.10). The firm had revenue of $3.13 billion during the quarter, compared to analysts' expectations of $3.02 billion. The company's revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.17) EPS. Community Health Systems has set its FY 2025 guidance at -0.400--0.100 EPS. As a group, analysts forecast that Community Health Systems, Inc. will post -0.29 EPS for the current fiscal year.

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.