Community Health Systems (NYSE:CYH) Rating Lowered to Underweight at Wells Fargo & Company

Community Health Systems (NYSE:CYH) was downgraded by Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a research report issued on Monday, Marketbeat reports. They presently have a $2.50 price objective on the stock, down from their prior price objective of $5.00. Wells Fargo & Company‘s target price would indicate a potential downside of 29.78% from the stock’s current price.

CYH has been the subject of several other reports. UBS Group raised their price target on Community Health Systems from $4.70 to $5.10 and gave the company a “neutral” rating in a report on Wednesday, August 14th. StockNews.com upgraded Community Health Systems from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Truist Financial reduced their price target on Community Health Systems from $5.50 to $5.00 and set a “hold” rating for the company in a report on Friday, October 25th. Raymond James downgraded Community Health Systems from a “market perform” rating to an “underperform” rating in a report on Friday, November 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $6.00 price objective on shares of Community Health Systems in a report on Monday, August 12th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $4.77.

Community Health Systems Trading Down 3.8 %

CYH opened at $3.56 on Monday. The stock has a fifty day simple moving average of $4.98 and a two-hundred day simple moving average of $4.51. The company has a market cap of $494.66 million, a price-to-earnings ratio of -1.18 and a beta of 1.60. Community Health Systems has a 12-month low of $2.31 and a 12-month high of $6.29.

Community Health Systems (NYSE:CYH) last posted its quarterly earnings data 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 business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.08 billion. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the business posted ($0.33) EPS. On average, analysts predict that Community Health Systems will post -0.52 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp boosted its position in Community Health Systems by 6.8% in the second quarter. Mackenzie Financial Corp now owns 33,269 shares of the company’s stock worth $112,000 after purchasing an additional 2,106 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Community Health Systems by 5.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,701 shares of the company’s stock valued at $167,000 after buying an additional 2,739 shares in the last quarter. CWM LLC lifted its position in shares of Community Health Systems by 32.1% during the 3rd quarter. CWM LLC now owns 12,191 shares of the company’s stock valued at $74,000 after buying an additional 2,961 shares in the last quarter. Signaturefd LLC purchased a new position in shares of Community Health Systems during the 3rd quarter valued at about $33,000. Finally, Price T Rowe Associates Inc. MD lifted its position 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 buying an additional 6,852 shares in the last quarter. 84.99% of the stock is owned by hedge funds and other institutional investors.

Community Health Systems Company Profile

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.