Community Health Systems (NYSE:CYH) Downgraded by Wells Fargo & Company to Underweight

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

A number of other analysts also recently issued reports on CYH. UBS Group lifted their price objective on Community Health Systems from $4.70 to $5.10 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. StockNews.com raised Community Health Systems from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Royal Bank of Canada reissued an “outperform” rating and set a $6.00 target price on shares of Community Health Systems in a research report on Monday, August 12th. 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. Finally, Raymond James downgraded Community Health Systems from a “market perform” rating to an “underperform” rating in a research report on Friday, November 22nd. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $4.77.

Community Health Systems Trading Down 3.8 %

Shares of CYH opened at $3.56 on Monday. The business’s 50 day moving average is $4.98 and its 200 day moving average is $4.51. The company has a market capitalization of $494.66 million, a PE 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 released 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. During the same quarter last year, the firm posted ($0.33) earnings per share. Community Health Systems’s revenue was up .1% on a year-over-year basis. Equities research analysts predict that Community Health Systems will post -0.52 earnings per share for the current year.

Hedge Funds Weigh In On Community Health Systems

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings 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 valued at $28,436,000 after acquiring an additional 28,669 shares during the period. Whitebox Advisors LLC boosted its holdings in Community Health Systems by 43.3% during the 2nd quarter. Whitebox Advisors LLC now owns 3,020,933 shares of the company’s stock valued at $10,150,000 after acquiring an additional 913,542 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Community Health Systems by 2.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,748,786 shares of the company’s stock valued at $5,875,000 after acquiring an additional 43,145 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Community Health Systems by 6.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,616,212 shares of the company’s stock valued at $9,810,000 after acquiring an additional 91,985 shares during the period. Finally, Bank of Montreal Can purchased a new stake in shares of Community Health Systems in the 2nd quarter worth $3,692,000. Hedge funds and other institutional investors own 84.99% of the company’s stock.

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.