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

Wells Fargo & Company cut shares of Community Health Systems (NYSE:CYH) from an equal weight rating to an underweight rating in a research report released on Monday morning, MarketBeat reports. Wells Fargo & Company currently has $2.50 price target on the stock, down from their previous price target of $5.00.

A number of other equities analysts have also recently issued reports on the company. UBS Group increased their target price on Community Health Systems from $4.70 to $5.10 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Royal Bank of Canada reissued an “outperform” rating and set a $6.00 price objective on shares of Community Health Systems in a report on Monday, August 12th. Barclays upped their target price 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. Raymond James downgraded shares of Community Health Systems from a “market perform” rating to an “underperform” rating in a report on Friday, November 22nd. Finally, Truist Financial decreased their price objective on shares of Community Health Systems from $5.50 to $5.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $4.77.

Community Health Systems Trading Down 3.1 %

Shares of NYSE CYH opened at $3.46 on Monday. The firm 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 one year low of $2.31 and a one year high of $6.29. The business has a fifty day simple moving average of $4.94 and a 200 day simple moving average of $4.51.

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 analysts’ consensus estimates of ($0.16) by ($0.14). The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.08 billion. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the company posted ($0.33) EPS. On average, research analysts anticipate that Community Health Systems will post -0.52 earnings per share for the current fiscal year.

Institutional Trading of Community Health Systems

Several hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp lifted its holdings in Community Health Systems by 6.8% in the second quarter. Mackenzie Financial Corp now owns 33,269 shares of the company’s stock valued at $112,000 after buying an additional 2,106 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Community Health Systems by 5.8% in the 2nd 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 boosted its position in shares of Community Health Systems by 32.1% in the 3rd quarter. CWM LLC now owns 12,191 shares of the company’s stock worth $74,000 after purchasing an additional 2,961 shares during the last quarter. Franklin Resources Inc. increased its holdings in Community Health Systems by 4.1% in the third quarter. Franklin Resources Inc. now owns 75,520 shares of the company’s stock valued at $422,000 after purchasing an additional 2,989 shares during the last quarter. Finally, Signaturefd LLC acquired a new position in Community Health Systems in the third quarter valued at about $33,000. 84.99% of the stock is owned by 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.