Community Health Systems (NYSE:CYH) Rating Lowered to Underperform at Raymond James

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

Other analysts also recently issued reports about the company. Wells Fargo & Company raised their target price on Community Health Systems from $3.50 to $5.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada restated an “outperform” rating and set a $6.00 price objective on shares of Community Health Systems in a research report on Monday, August 12th. Barclays raised their price target on shares of Community Health Systems from $3.00 to $5.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Truist Financial lowered their price objective on Community Health Systems from $5.50 to $5.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Finally, Oppenheimer upped their price target 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $5.18.

Community Health Systems Stock Down 2.7 %

Shares of CYH opened at $3.65 on Friday. The firm’s fifty day moving average is $5.02 and its two-hundred day moving average is $4.50. The stock has a market cap of $507.17 million, a PE ratio of -1.21 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 announced its quarterly earnings data 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 company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the company posted ($0.33) earnings per share. The company’s quarterly revenue was up .1% compared to the same quarter last year. As a group, research analysts anticipate that Community Health Systems will post -0.52 earnings per share for the current year.

Hedge Funds Weigh In On Community Health Systems

Several hedge funds have recently bought and sold shares of the company. nVerses Capital LLC purchased a new position in shares of Community Health Systems in the second quarter valued at approximately $25,000. DekaBank Deutsche Girozentrale acquired a new stake in Community Health Systems during the 2nd quarter worth approximately $33,000. Signaturefd LLC acquired a new position in shares of Community Health Systems in the third quarter worth $33,000. Canada Pension Plan Investment Board purchased a new stake in shares of Community Health Systems during the second quarter worth $45,000. Finally, CWM LLC boosted its holdings in Community Health Systems by 32.1% in the third quarter. CWM LLC now owns 12,191 shares of the company’s stock valued at $74,000 after purchasing an additional 2,961 shares during the period. Institutional investors and hedge funds 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.