Community Health Systems (NYSE:CYH) Cut 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, Marketbeat.com reports.

CYH has been the subject of several other research reports. Barclays boosted their target price on Community Health Systems from $3.00 to $5.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Oppenheimer lifted their price objective on Community Health Systems from $4.50 to $5.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Truist Financial cut their target price on shares of Community Health Systems from $5.50 to $5.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. StockNews.com upgraded shares of Community Health Systems from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Wells Fargo & Company boosted their price objective on shares of 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. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Community Health Systems presently has an average rating of “Hold” and a consensus price target of $5.18.

Community Health Systems Trading Down 2.7 %

Shares of NYSE:CYH opened at $3.65 on Friday. The company has a 50-day moving average price of $5.02 and a 200 day moving average price of $4.50. Community Health Systems has a 12 month low of $2.31 and a 12 month high of $6.29. The company has a market cap of $507.17 million, a price-to-earnings ratio of -1.21 and a beta of 1.60.

Community Health Systems (NYSE:CYH) last issued its quarterly earnings results 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 company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the company posted ($0.33) EPS. The firm’s revenue was up .1% compared to the same quarter last year. As a group, equities analysts forecast that Community Health Systems will post -0.52 EPS for the current year.

Hedge Funds Weigh In On Community Health Systems

Large investors have recently made changes to their positions in the business. Barclays PLC grew its stake in Community Health Systems by 1,278.2% during the 3rd quarter. Barclays PLC now owns 707,805 shares of the company’s stock worth $4,296,000 after buying an additional 656,447 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Community Health Systems during the third quarter worth about $500,000. Algert Global LLC increased its holdings in shares of Community Health Systems by 39.5% during the third quarter. Algert Global LLC now owns 158,587 shares of the company’s stock valued at $963,000 after acquiring an additional 44,944 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Community Health Systems in the 3rd quarter worth approximately $207,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Community Health Systems by 522.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 264,198 shares of the company’s stock worth $1,604,000 after purchasing an additional 221,759 shares during the last quarter. 84.99% of the stock is owned by institutional investors and hedge funds.

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.