Truist Financial Increases Community Health Systems (NYSE:CYH) Price Target to $3.75

Community Health Systems (NYSE:CYH - Get Free Report) had its price objective upped by analysts at Truist Financial from $3.25 to $3.75 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a "hold" rating on the stock. Truist Financial's target price would suggest a potential upside of 10.46% from the company's current price.

A number of other brokerages have also commented on CYH. Barclays began coverage on Community Health Systems in a research report on Wednesday, March 6th. They set an "equal weight" rating and a $3.00 price objective for the company. Oppenheimer decreased their price objective on Community Health Systems from $5.50 to $4.50 and set an "outperform" rating for the company in a research report on Thursday. Finally, StockNews.com upgraded Community Health Systems from a "sell" rating to a "hold" rating in a research report on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $4.05.

Community Health Systems Stock Performance

Shares of NYSE:CYH traded up $0.15 during midday trading on Friday, reaching $3.40. The company had a trading volume of 2,505,025 shares, compared to its average volume of 2,096,165. Community Health Systems has a 1-year low of $2.01 and a 1-year high of $6.53. The firm has a market cap of $471.84 million, a price-to-earnings ratio of -3.55 and a beta of 1.52. The company has a fifty day simple moving average of $3.08 and a two-hundred day simple moving average of $3.06.

Community Health Systems (NYSE:CYH - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The company reported ($0.14) earnings per share for the quarter, beating analysts' consensus estimates of ($0.19) by $0.05. Community Health Systems had a negative return on equity of 5.51% and a negative net margin of 0.99%. The business had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter last year, the company posted ($0.43) EPS. Community Health Systems's revenue for the quarter was up 1.0% on a year-over-year basis. Analysts expect that Community Health Systems will post -0.45 EPS for the current year.

Institutional Investors Weigh In On Community Health Systems

Several institutional investors have recently made changes to their positions in the company. Invesco Ltd. lifted its holdings in shares of Community Health Systems by 16.4% during the 3rd quarter. Invesco Ltd. now owns 6,239,749 shares of the company's stock valued at $18,095,000 after buying an additional 879,784 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Community Health Systems by 14.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,583,032 shares of the company's stock valued at $17,475,000 after buying an additional 701,036 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Community Health Systems by 20.5% in the 3rd quarter. Teacher Retirement System of Texas now owns 1,715,268 shares of the company's stock valued at $4,974,000 after acquiring an additional 292,351 shares in the last quarter. First Eagle Investment Management LLC raised its stake in shares of Community Health Systems by 8.4% in the 4th quarter. First Eagle Investment Management LLC now owns 1,578,121 shares of the company's stock valued at $4,940,000 after acquiring an additional 122,000 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its stake in shares of Community Health Systems by 0.9% in the 4th quarter. Panagora Asset Management Inc. now owns 730,256 shares of the company's stock valued at $2,286,000 after acquiring an additional 6,333 shares in the last quarter. 84.99% of the stock is currently owned by institutional investors and hedge funds.

About Community Health Systems

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.