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

Wells Fargo & Company lowered shares of Community Health Systems (NYSE:CYH) from an equal weight rating to an underweight rating in a research note published on Monday morning, Marketbeat Ratings reports. They currently have $2.50 price objective on the stock, down from their prior price objective of $5.00.

Several other equities analysts have also recently issued reports on the stock. Barclays boosted their target price on shares of Community Health Systems from $3.00 to $5.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $6.00 price target on shares of Community Health Systems in a report on Monday, August 12th. Raymond James lowered Community Health Systems from a “market perform” rating to an “underperform” rating in a report on Friday, November 22nd. StockNews.com raised Community Health Systems from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Truist Financial dropped their target price on shares of Community Health Systems from $5.50 to $5.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Community Health Systems presently has an average rating of “Hold” and an average target price of $4.77.

Community Health Systems Stock Down 3.1 %

Community Health Systems stock opened at $3.46 on Monday. The stock has a 50-day moving average price of $4.89 and a 200 day moving average price of $4.50. The company has a market capitalization of $480.76 million, a price-to-earnings ratio of -1.15 and a beta of 1.60. Community Health Systems has a 52 week low of $2.31 and a 52 week high of $6.29.

Community Health Systems (NYSE:CYH) last posted its earnings results on Wednesday, October 23rd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.14). The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.08 billion. Community Health Systems’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.33) EPS. Research analysts anticipate that Community Health Systems will post -0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Community Health Systems

Institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC increased its holdings in shares of Community Health Systems by 384.7% in the second quarter. SG Americas Securities LLC now owns 212,852 shares of the company’s stock valued at $715,000 after purchasing an additional 168,941 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Community Health Systems by 301.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 334,189 shares of the company’s stock worth $2,029,000 after acquiring an additional 250,909 shares during the last quarter. Vanguard Group Inc. raised its stake in Community Health Systems by 0.4% during 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 during the period. Hood River Capital Management LLC purchased a new stake in shares of Community Health Systems in the 2nd quarter valued at approximately $789,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Community Health Systems during the 2nd quarter worth approximately $871,000. 84.99% of the stock is currently owned by institutional investors and hedge funds.

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.