Analysts at Credit Suisse Group AG initiated coverage on shares of Community Health Systems, Inc. (NYSE:CYH) in a report released on Thursday. The brokerage set an “underperform” rating and a $3.50 price target on the stock. Credit Suisse Group AG’s price objective would indicate a potential downside of 40.68% from the company’s current price.

Several other equities analysts also recently weighed in on CYH. Zacks Investment Research downgraded Community Health Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $7.00 target price on shares of Community Health Systems in a research report on Friday, August 4th. Deutsche Bank AG dropped their target price on Community Health Systems from $13.00 to $8.00 and set a “hold” rating for the company in a research report on Thursday, August 3rd. BidaskClub downgraded Community Health Systems from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Finally, Piper Jaffray Companies reaffirmed a “sell” rating and issued a $6.00 target price on shares of Community Health Systems in a research report on Thursday, August 3rd. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $7.57.

Community Health Systems (NYSE:CYH) last released its earnings results 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 firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.70 billion. Community Health Systems had a negative net margin of 3.63% and a positive return on equity of 0.07%. The business’s revenue was down 16.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.35) earnings per share.

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In other news, major shareholder Tian Qiao Chen acquired 9,766,897 shares of Community Health Systems stock in a transaction on Monday, August 14th. The stock was bought at an average price of $7.27 per share, for a total transaction of $71,005,341.19. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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. IndexIQ Advisors LLC lifted its stake in Community Health Systems by 83.0% in the third quarter. IndexIQ Advisors LLC now owns 97,715 shares of the company’s stock valued at $750,000 after buying an additional 44,333 shares during the last quarter. ARP Americas LLC purchased a new stake in Community Health Systems in the third quarter valued at approximately $121,000. Nationwide Fund Advisors lifted its stake in Community Health Systems by 70.3% in the third quarter. Nationwide Fund Advisors now owns 548,805 shares of the company’s stock valued at $4,215,000 after buying an additional 226,528 shares during the last quarter. Fox Run Management L.L.C. lifted its stake in Community Health Systems by 499.2% in the third quarter. Fox Run Management L.L.C. now owns 76,100 shares of the company’s stock valued at $584,000 after buying an additional 63,400 shares during the last quarter. Finally, Verition Fund Management LLC lifted its stake in Community Health Systems by 105.0% in the second quarter. Verition Fund Management LLC now owns 56,589 shares of the company’s stock valued at $564,000 after buying an additional 28,989 shares during the last quarter. Institutional investors own 94.53% of the company’s stock.

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.

Analyst Recommendations for Community Health Systems (NYSE:CYH)

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