Community Health Systems, Inc. (CYH) Given New $4.50 Price Target at Morgan Stanley

Community Health Systems, Inc. (NYSE:CYH) had its price target cut by Morgan Stanley from $6.50 to $4.50 in a note issued to investors on Friday. The brokerage presently has an “underweight” rating on the stock. Morgan Stanley’s price objective indicates a potential downside of 0.88% from the company’s current price.

A number of other research firms have also commented on CYH. Zacks Investment Research upgraded Community Health Systems from a “sell” rating to a “hold” rating in a research report on Friday, July 21st. Jefferies Group LLC restated a “hold” rating and set a $7.00 price target on shares of Community Health Systems in a research report on Sunday, July 30th. Mizuho restated a “neutral” rating and set a $7.00 price target (down from $7.50) on shares of Community Health Systems in a research report on Wednesday, August 2nd. ValuEngine lowered Community Health Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Finally, Robert W. Baird restated a “hold” rating and set a $7.00 price target on shares of Community Health Systems in a research report on Friday, September 1st. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. Community Health Systems presently has a consensus rating of “Hold” and a consensus target price of $7.24.

Community Health Systems (CYH) traded down $1.36 during mid-day trading on Friday, hitting $4.54. The stock had a trading volume of 14,152,885 shares, compared to its average volume of 4,401,058.

Community Health Systems (NYSE:CYH) last released its quarterly earnings data on Wednesday, November 1st. The company reported ($0.77) earnings per share 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 net margin of 3.97% and a negative return on equity of 3.10%. The company’s revenue for the quarter was down 16.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.35) earnings per share. equities analysts expect that Community Health Systems will post -0.38 EPS for the current year.

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In related news, major shareholder Tian Qiao Chen purchased 9,766,897 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were bought at an average price of $7.27 per share, with a total value of $71,005,341.19. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.70% of the company’s stock.

Several hedge funds have recently bought and sold shares of CYH. Principal Financial Group Inc. lifted its stake in shares of Community Health Systems by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 980,546 shares of the company’s stock valued at $8,698,000 after purchasing an additional 27,116 shares during the period. Teachers Advisors LLC raised its stake in Community Health Systems by 3.6% during the 1st quarter. Teachers Advisors LLC now owns 205,085 shares of the company’s stock worth $1,819,000 after buying an additional 7,144 shares during the period. Vanguard Group Inc. raised its stake in Community Health Systems by 15.2% during the 1st 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. Geode Capital Management LLC raised its stake in Community Health Systems by 12.1% during the 1st quarter. Geode Capital Management LLC now owns 903,231 shares of the company’s stock worth $8,011,000 after buying an additional 97,632 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Community Health Systems by 0.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,137,209 shares of the company’s stock worth $18,957,000 after buying an additional 15,523 shares during the period. 94.53% of the stock is currently owned by institutional investors.

About Community Health Systems

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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