Oppenheimer Cuts Community Health Systems (NYSE:CYH) Price Target to $4.50

Community Health Systems (NYSE:CYH) had its target price reduced by Oppenheimer from $5.50 to $4.50 in a report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts have also issued reports on CYH. Barclays started coverage on shares of Community Health Systems in a research report on Wednesday, March 6th. They set an equal weight rating and a $3.00 price target on the stock. StockNews.com raised shares of Community Health Systems from a sell rating to a hold rating in a report on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $4.05.

Community Health Systems Stock Performance

Shares of NYSE CYH opened at $3.39 on Thursday. The business has a 50-day moving average of $3.06 and a 200-day moving average of $3.06. Community Health Systems has a fifty-two week low of $2.01 and a fifty-two week high of $6.53.

Community Health Systems (NYSE:CYH) last posted 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 firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period last year, the company earned ($0.43) earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. Research analysts anticipate that Community Health Systems will post -0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Community Health Systems

Several hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its holdings in Community Health Systems by 78.0% during the 3rd quarter. SG Americas Securities LLC now owns 78,647 shares of the company’s stock worth $228,000 after purchasing an additional 34,473 shares during the last quarter. Zullo Investment Group Inc. acquired a new stake in shares of Community Health Systems during the third quarter worth $44,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Community Health Systems by 51.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,665 shares of the company’s stock valued at $121,000 after acquiring an additional 14,104 shares during the period. Strs Ohio grew its stake in shares of Community Health Systems by 12.9% in the third quarter. Strs Ohio now owns 164,000 shares of the company’s stock valued at $475,000 after acquiring an additional 18,800 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its position in Community Health Systems by 20.5% during the third quarter. Teacher Retirement System of Texas now owns 1,715,268 shares of the company’s stock worth $4,974,000 after acquiring an additional 292,351 shares during the period. 84.99% of the stock is currently owned by institutional investors and hedge funds.

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.