Leerink Swann increased their target price on Community Health Systems from $60.00 to $70.00 and gave the company an outperform rating in a report on Friday, June 26th. Raymond James downgraded shares of Community Health Systems from an "outperform" rating to a "market perform" rating in a research report on Friday, June 26th.
Community Health Systems closed at $40.55 yesterday. The stock price is trading downbeat from its 20 days moving average with -30.09% and down from 50 days moving average with -40.72%. The highest target is $83 and the lowest is $45 according to Thomson/First Call.
The news drove shares of CHS (Ticker: CYH) down 15 percent after hours to about $34.50. Oppenheimer restated a "buy" rating and set a $82.00 price objective on shares of Community Health Systems in a research note on Tuesday, September 29th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock.
Hospital stocks tanked Thursday after another big chain warned Wall Street that it won't meet third-quarter earnings expectations. The stock has a 50-day moving average of $46.21 and a 200-day moving average of $53.6.
Community Health Systems, Inc.is a leading provider of non-urban acute healthcare services. Tpg is another bullish active investment manager who is possessing 2.17 million shares of Community Health Systems or 11.05% of their equity exposure. The company's shares opened today at $31.08. The business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $5.03 billion. In comparison, a year ago the company earned revenue of $4.8B and had a net profit of $62M.
CHS is scheduled to report full results on November 2. Income from continuing operations for the three months ended September 30, 2015, excluding expenses from the planned spin-off of Quorum Health Corporation, is predictable to be $0.56 per share (diluted), compared with $1.01 per share (diluted) for the three months ended September 30, 2014. HCA Holdings expects revenue to grow 6.9% year over year to $9.86 billion for the quarter, compared to analysts' estimates of $9.85 billion. During the same period previous year, the company posted $0.37 EPS.
The stock price of Community Health Systems declined 22.95% over the last 200 days and is in a strong downtrend. The Business provides healthcare services through the hospitals that it manages and owns in non-urban and selected urban markets throughout the United States. It operates in two operating segments: home and hospital surgeries care agencies operations. Its home care agencies businesses supply in-house outpatient care. Services provided through its hospitals and affiliated businesses comprise general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric and rehabilitation services.