Community Health Systems’ (CYH) Hold Rating Reiterated at Mizuho
Community Health Systems, Inc. (NYSE:CYH)‘s stock had its “hold” rating reissued by investment analysts at Mizuho in a research note issued to investors on Friday. They presently have a $3.50 price target on the stock. Mizuho’s price target suggests a potential downside of 20.45% from the stock’s current price.
A number of other brokerages have also recently commented on CYH. Zacks Investment Research raised Community Health Systems from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Tuesday, July 11th. Piper Jaffray Companies reaffirmed a “sell” rating and issued a $9.00 price target on shares of Community Health Systems in a research note on Wednesday, July 26th. ValuEngine raised Community Health Systems from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $7.00 price target on shares of Community Health Systems in a research note on Tuesday, September 5th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $7.00 price target on shares of Community Health Systems in a research note on Wednesday, October 4th. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $6.88.
Shares of Community Health Systems (CYH) traded down $1.04 during trading on Friday, reaching $4.40. The company’s stock had a trading volume of 6,225,860 shares, compared to its average volume of 4,401,058. The company has a debt-to-equity ratio of 10.62, a current ratio of 2.05 and a quick ratio of 1.94.
Community Health Systems (NYSE:CYH) last announced its quarterly earnings results on Wednesday, November 1st. The company reported ($0.77) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.47). The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.70 billion. Community Health Systems had a negative return on equity of 3.10% and a negative net margin of 3.97%. Community Health Systems’s revenue for the quarter was down 16.3% on a year-over-year basis. During the same period last year, the firm earned ($0.35) earnings per share. equities analysts predict that Community Health Systems will post -0.38 earnings per share for the current fiscal year.
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In other news, major shareholder Tian Qiao Chen purchased 9,766,897 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were bought at an average cost 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 can be accessed through this link. Insiders own 4.70% of the company’s stock.
Large investors have recently made changes to their positions in the business. Marshall Wace North America L.P. purchased a new position in Community Health Systems during the second quarter valued at $2,628,000. BNP Paribas Arbitrage SA raised its stake in Community Health Systems by 101.9% during the second quarter. BNP Paribas Arbitrage SA now owns 59,039 shares of the company’s stock valued at $588,000 after buying an additional 29,794 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Community Health Systems by 9.2% during the second quarter. Ameriprise Financial Inc. now owns 716,703 shares of the company’s stock valued at $7,141,000 after buying an additional 60,394 shares during the last quarter. HighTower Advisors LLC purchased a new position in Community Health Systems during the first quarter valued at $152,000. Finally, Alps Advisors Inc. purchased a new position in Community Health Systems during the second quarter valued at $107,000. Institutional investors and hedge funds 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.
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