Community Health Systems (NYSE:CYH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, January 17th.
According to Zacks, “Community Health is well poised for long term growth on the back of its inorganic strategies. The company’s frequent divestitures to streamline core operations have helped it lower its debt burden. As a part of their restructuring plan, the company has started taking up certain corrective measures in order to bring improvement to its top line. However, the company’s shares have underperformed the industry in a year’s time. It has seen a continuous decline in its revenues that has been putting pressure on the bottom line. Following lackluster third-quarter results, the company has lowered its 2017 earnings per share guidance. It has seen its Zacks Consensus Estimate for 2018 earnings being revised downward in the past 60 days.”
Several other analysts have also recently commented on the stock. ValuEngine cut shares of Community Health Systems from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 7th. Morgan Stanley lowered their target price on shares of Community Health Systems from $6.50 to $4.50 and set an “underweight” rating for the company in a report on Friday, November 3rd. Credit Suisse Group assumed coverage on shares of Community Health Systems in a research report on Thursday, November 2nd. They set an “underperform” rating and a $3.50 price target on the stock. JPMorgan Chase & Co. cut shares of Community Health Systems from a “neutral” rating to an “underweight” rating in a research report on Thursday, December 14th. Finally, Goldman Sachs Group assumed coverage on shares of Community Health Systems in a research report on Wednesday, January 3rd. They set a “sell” rating and a $3.00 price target on the stock. Eight investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $6.10.
Shares of Community Health Systems (NYSE CYH) traded down $0.03 during trading on Wednesday, reaching $5.43. 3,168,047 shares of the company’s stock traded hands, compared to its average volume of 3,170,029. Community Health Systems has a 52 week low of $3.85 and a 52 week high of $10.51. The company has a debt-to-equity ratio of 10.62, a current ratio of 2.05 and a quick ratio of 1.86. The stock has a market cap of $622.97, a P/E ratio of -0.91 and a beta of 1.52.
In related news, major shareholder Tian Qiao Chen bought 100,164 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The stock was purchased at an average price of $3.96 per share, for a total transaction of $396,649.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders purchased a total of 1,980,484 shares of company stock valued at $7,878,489 in the last quarter. 4.70% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in Community Health Systems by 4.7% in the 4th quarter. BlackRock Inc. now owns 14,960,922 shares of the company’s stock valued at $63,734,000 after acquiring an additional 672,638 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Community Health Systems by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 10,377,548 shares of the company’s stock valued at $103,361,000 after acquiring an additional 424,006 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Community Health Systems by 31.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,508,663 shares of the company’s stock valued at $49,986,000 after acquiring an additional 1,551,499 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Community Health Systems by 226.4% during the third quarter. JPMorgan Chase & Co. now owns 4,228,000 shares of the company’s stock valued at $31,880,000 after buying an additional 2,932,700 shares in the last quarter. Finally, Royce & Associates LP lifted its stake in Community Health Systems by 10.0% during the third quarter. Royce & Associates LP now owns 2,482,295 shares of the company’s stock valued at $19,064,000 after buying an additional 226,500 shares in the last quarter. 94.72% of the stock is owned by institutional investors.
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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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