Community Health Systems (NYSE:CYH) Cut to Strong Sell at Zacks Research

Community Health Systems (NYSE:CYH) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday, Zacks reports.

Other equities research analysts have also issued research reports about the company. Wall Street Zen lowered Community Health Systems from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. BMO Capital Markets initiated coverage on Community Health Systems in a research report on Tuesday, September 22nd. They set a “market perform” rating and a $3.00 price target on the stock. Weiss Ratings cut Community Health Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, October 14th. Wells Fargo & Company lowered their price objective on shares of Community Health Systems from $2.00 to $1.00 and set an “underweight” rating for the company in a research report on Tuesday. Finally, Truist Financial reduced their target price on shares of Community Health Systems from $3.25 to $2.50 and set a “hold” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $2.59.

Community Health Systems Trading Down 2.6%

Shares of NYSE CYH opened at $2.04 on Monday. Community Health Systems has a 12-month low of $2.04 and a 12-month high of $3.92. The company has a market cap of $288.41 million, a P/E ratio of 7.87 and a beta of 1.90. The stock has a fifty day moving average price of $2.83 and a 200 day moving average price of $3.03.

Community Health Systems (NYSE:CYH) last released its quarterly earnings data on Wednesday, October 28th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.19). The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Community Health Systems had a net margin of 0.31% and a negative return on equity of 6.66%. The company’s revenue for the quarter was down 10.7% compared to the same quarter last year. During the same period last year, the business earned $1.27 earnings per share. On average, sell-side analysts forecast that Community Health Systems will post -1.68 EPS for the current fiscal year.

Insider Activity

In other news, Director William Jennings sold 40,000 shares of Community Health Systems stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $2.96, for a total transaction of $118,400.00. Following the sale, the director directly owned 38,468 shares of the company’s stock, valued at approximately $113,865.28. The trade was a 50.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 11.10% of the company’s stock.

Institutional Investors Weigh In On Community Health Systems

Hedge funds have recently bought and sold shares of the business. M Holdings Securities Inc. purchased a new stake in Community Health Systems during the 3rd quarter worth approximately $72,000. Prescott Group Capital Management L.L.C. raised its position in shares of Community Health Systems by 27.1% in the 3rd quarter. Prescott Group Capital Management L.L.C. now owns 328,406 shares of the company’s stock valued at $939,000 after purchasing an additional 70,000 shares in the last quarter. State of Wyoming boosted its stake in shares of Community Health Systems by 21.8% during the 3rd quarter. State of Wyoming now owns 141,030 shares of the company’s stock valued at $403,000 after buying an additional 25,259 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Community Health Systems during the 2nd quarter valued at approximately $64,000. Finally, Readystate Asset Management LP grew its position in shares of Community Health Systems by 37.3% during the second quarter. Readystate Asset Management LP now owns 496,326 shares of the company’s stock worth $1,658,000 after buying an additional 134,829 shares in the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.

Community Health Systems Company Profile

Community Health Systems, Inc (NYSE: CYH) is a healthcare services company that owns, leases, and operates general acute-care hospitals and related healthcare facilities in the United States. The company focuses primarily on serving communities in small cities and non-urban markets, providing access to hospital-based and outpatient care.

Its services generally include emergency care, inpatient and outpatient treatment, surgery, diagnostic imaging, laboratory services, rehabilitation, and other clinical programs.