Community Health Systems, Inc. (CYH) Price Target Lowered to $4.50 at Morgan Stanley
Community Health Systems, Inc. (NYSE:CYH) had its target price reduced by Morgan Stanley from $6.50 to $4.50 in a report released on Friday morning. Morgan Stanley currently has an underweight rating on the stock.
A number of other research firms have also recently commented on CYH. Credit Suisse Group began coverage on shares of Community Health Systems in a research note on Thursday. They issued an underperform rating and a $3.50 price target for the company. Piper Jaffray Companies restated a sell rating and issued a $9.00 price objective on shares of Community Health Systems in a report on Wednesday, July 26th. Zacks Investment Research lowered shares of Community Health Systems from a hold rating to a sell rating in a report on Wednesday, August 2nd. UBS Group AG (USA) reiterated a neutral rating and set a $8.00 price target (down from $10.00) on shares of Community Health Systems in a report on Wednesday, August 23rd. Finally, Deutsche Bank AG decreased their price objective on shares of Community Health Systems from $13.00 to $8.00 and set a hold rating for the company in a report on Thursday, August 3rd. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company’s stock. Community Health Systems has a consensus rating of Hold and an average target price of $6.88.
Community Health Systems (CYH) traded down $1.04 on Friday, hitting $4.40. 6,225,860 shares of the company were exchanged, compared to its average volume of 4,401,058. The company has a current ratio of 2.05, a quick ratio of 1.94 and a debt-to-equity ratio of 10.62.
Community Health Systems (NYSE:CYH) last announced its quarterly earnings data on Wednesday, November 1st. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.47). The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.70 billion. Community Health Systems had a negative return on equity of 3.10% and a negative net margin of 3.97%. The business’s revenue was down 16.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.35) EPS. research analysts predict that Community Health Systems will post -0.38 EPS for the current fiscal year.
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In other news, major shareholder Tian Qiao Chen acquired 9,766,897 shares of the company’s stock in a transaction on Monday, August 14th. The stock was bought at an average cost of $7.27 per share, with a total value of $71,005,341.19. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.70% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of CYH. BlackRock Inc. boosted its stake in Community Health Systems by 38,765.3% during the first quarter. BlackRock Inc. now owns 14,685,650 shares of the company’s stock worth $130,263,000 after buying an additional 14,647,864 shares during the period. Dimensional Fund Advisors LP boosted its stake in Community Health Systems by 131.9% during the second quarter. Dimensional Fund Advisors LP now owns 4,957,164 shares of the company’s stock worth $49,374,000 after buying an additional 2,819,955 shares during the period. Franklin Resources Inc. purchased a new position in Community Health Systems during the second quarter worth $14,946,000. Vanguard Group Inc. boosted its stake in Community Health Systems by 15.2% during the first quarter. Vanguard Group Inc. now owns 9,953,542 shares of the company’s stock worth $88,288,000 after buying an additional 1,312,513 shares during the period. Finally, QS Investors LLC purchased a new position in Community Health Systems during the second quarter worth $5,761,000. 94.53% of the stock is owned by institutional investors.
Community Health Systems Company Profile
Community Health Systems, Inc is an operator of general acute care hospitals and outpatient facilities in communities across the country. The Company operates through hospital operations segment, which includes its general acute care hospitals and related healthcare entities that provide inpatient and outpatient healthcare services.
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