Community Health Systems (NYSE:CYH) Downgraded by Raymond James to “Underperform”

Raymond James cut shares of Community Health Systems (NYSE:CYH) from a market perform rating to an underperform rating in a research note published on Friday morning, Marketbeat reports.

Several other research firms also recently weighed in on CYH. StockNews.com raised Community Health Systems from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Oppenheimer boosted their price objective on Community Health Systems from $4.50 to $5.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. 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 decreased their price target 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. Finally, Wells Fargo & Company lifted their price objective on shares of Community Health Systems from $3.50 to $5.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Community Health Systems has a consensus rating of “Hold” and an average price target of $4.77.

Community Health Systems Stock Up 1.4 %

Shares of CYH opened at $3.70 on Friday. The company has a market capitalization of $514.12 million, a price-to-earnings ratio of -1.23 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. The stock has a 50 day moving average price of $4.98 and a 200 day moving average price of $4.51.

Community Health Systems (NYSE:CYH) last issued its earnings results on Wednesday, October 23rd. The company reported ($0.30) earnings per share (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 analyst estimates of $3.08 billion. During the same period last year, the firm posted ($0.33) EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. On average, equities analysts anticipate that Community Health Systems will post -0.52 EPS for the current fiscal year.

Institutional Trading of Community Health Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CYH. Mackenzie Financial Corp raised its holdings in Community Health Systems by 6.8% in the 2nd quarter. Mackenzie Financial Corp now owns 33,269 shares of the company’s stock valued at $112,000 after acquiring an additional 2,106 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Community Health Systems by 5.8% in the second quarter. The Manufacturers Life Insurance Company now owns 49,701 shares of the company’s stock valued at $167,000 after purchasing an additional 2,739 shares during the period. CWM LLC lifted its position in Community Health Systems by 32.1% during the third quarter. CWM LLC now owns 12,191 shares of the company’s stock worth $74,000 after buying an additional 2,961 shares during the period. Signaturefd LLC acquired a new stake in Community Health Systems in the 3rd quarter worth about $33,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Community Health Systems by 7.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 96,027 shares of the company’s stock valued at $337,000 after acquiring an additional 6,852 shares during the last quarter. Hedge funds and other institutional investors own 84.99% of the company’s stock.

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.