Community Health Systems (NYSE:CYH) Downgraded to “Underweight” Rating by Wells Fargo & Company

Wells Fargo & Company lowered shares of Community Health Systems (NYSE:CYH) from an equal weight rating to an underweight rating in a research report released on Monday morning, MarketBeat reports. The brokerage currently has $2.50 target price on the stock, down from their prior target price of $5.00.

Several other analysts have also recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $6.00 target price on shares of Community Health Systems in a research report on Monday, August 12th. Truist Financial dropped their price objective on shares of Community Health Systems from $5.50 to $5.00 and set a “hold” rating for the company in a research note on Friday, October 25th. UBS Group raised their target price on shares of Community Health Systems from $4.70 to $5.10 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Barclays raised their price target on Community Health Systems from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Finally, Raymond James downgraded Community Health Systems from a “market perform” rating to an “underperform” rating in a research report on Friday, November 22nd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Community Health Systems presently has an average rating of “Hold” and an average price target of $4.77.

Community Health Systems Trading Down 3.1 %

NYSE:CYH opened at $3.46 on Monday. Community Health Systems has a 12-month low of $2.31 and a 12-month high of $6.29. The stock has a market capitalization of $480.76 million, a P/E ratio of -1.15 and a beta of 1.60. The stock has a 50-day moving average price of $4.89 and a 200 day moving average price of $4.50.

Community Health Systems (NYSE:CYH) last released its earnings results on Wednesday, October 23rd. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.14). The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.08 billion. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.33) earnings per share. On average, research analysts predict that Community Health Systems will post -0.52 earnings per share for the current fiscal year.

Institutional Trading of Community Health Systems

A number of hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its holdings in Community Health Systems by 384.7% during the second quarter. SG Americas Securities LLC now owns 212,852 shares of the company’s stock valued at $715,000 after buying an additional 168,941 shares during the period. Los Angeles Capital Management LLC boosted its position in Community Health Systems by 301.3% during the third quarter. Los Angeles Capital Management LLC now owns 334,189 shares of the company’s stock valued at $2,029,000 after purchasing an additional 250,909 shares in the last quarter. Vanguard Group Inc. raised its holdings in Community Health Systems by 0.4% in the first quarter. Vanguard Group Inc. now owns 8,124,617 shares of the company’s stock worth $28,436,000 after purchasing an additional 28,669 shares in the last quarter. Hood River Capital Management LLC bought a new position in shares of Community Health Systems during the 2nd quarter worth approximately $789,000. Finally, Acadian Asset Management LLC acquired a new stake in Community Health Systems in the second quarter valued at approximately $871,000. 84.99% of the stock is owned by hedge funds and other institutional investors.

About Community Health Systems

Community Health Systems, Inc owns, leases, and operates general acute care hospitals in the United States. It offers general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services, as well as skilled nursing and home care services.