Community Health Systems (NYSE:CYH) Cut to “Sell” at StockNews.com

StockNews.com cut shares of Community Health Systems (NYSE:CYH) from a hold rating to a sell rating in a research report sent to investors on Monday morning.

A number of other research analysts have also weighed in on CYH. Royal Bank of Canada reaffirmed an “outperform” rating and set a $6.00 price objective on shares of Community Health Systems in a report on Monday, August 12th. Wells Fargo & Company downgraded shares of Community Health Systems from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $5.00 to $2.50 in a report on Monday. UBS Group increased their price target on shares of Community Health Systems from $4.70 to $5.10 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. Raymond James cut 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 target 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 analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $4.77.

Community Health Systems Stock Down 3.1 %

CYH opened at $3.46 on Monday. The business has a 50 day moving average price of $4.94 and a two-hundred day moving average price of $4.51. Community Health Systems has a 52 week low of $2.31 and a 52 week high of $6.29. The company has a market cap of $480.76 million, a PE ratio of -1.15 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 for the quarter, missing the consensus estimate of ($0.16) by ($0.14). The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Community Health Systems’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.33) earnings per share. As a group, sell-side analysts expect that Community Health Systems will post -0.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Community Health Systems by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 8,124,617 shares of the company’s stock worth $28,436,000 after purchasing an additional 28,669 shares during the period. Quadrature Capital Ltd lifted its position in Community Health Systems by 236.2% during the 1st quarter. Quadrature Capital Ltd now owns 105,777 shares of the company’s stock worth $370,000 after acquiring an additional 74,319 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Community Health Systems by 7.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 96,027 shares of the company’s stock valued at $337,000 after acquiring an additional 6,852 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Community Health Systems by 384.7% during the second quarter. SG Americas Securities LLC now owns 212,852 shares of the company’s stock worth $715,000 after purchasing an additional 168,941 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Community Health Systems during the 2nd quarter valued at $5,121,000. 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.