Community Health Systems (NYSE:CYH) Trading Down 3.8% on Analyst Downgrade

Community Health Systems, Inc. (NYSE:CYH)’s share price traded down 3.8% on Friday after Truist Financial lowered their price target on the stock from $5.50 to $5.00. Truist Financial currently has a hold rating on the stock. Community Health Systems traded as low as $4.09 and last traded at $4.09. 481,042 shares traded hands during trading, a decline of 73% from the average session volume of 1,778,177 shares. The stock had previously closed at $4.25.

Several other equities analysts also recently weighed in on CYH. Royal Bank of Canada reissued an “outperform” rating and set a $6.00 price target on shares of Community Health Systems in a research report on Monday, August 12th. UBS Group raised their price target on Community Health Systems from $4.70 to $5.10 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. Barclays raised their price target on Community Health Systems from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Thursday. Wells Fargo & Company lifted their price objective on Community Health Systems from $3.50 to $5.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Finally, Oppenheimer lifted their price objective on Community Health Systems from $4.50 to $5.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Community Health Systems currently has a consensus rating of “Hold” and a consensus target price of $5.18.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings in Community Health Systems by 384.7% in the second quarter. SG Americas Securities LLC now owns 212,852 shares of the company’s stock valued at $715,000 after acquiring an additional 168,941 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Community Health Systems in the first quarter valued at $1,132,000. Vanguard Group Inc. boosted its holdings in Community Health Systems by 0.4% in the first 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 last quarter. Hood River Capital Management LLC acquired a new position in Community Health Systems in the second quarter valued at $789,000. Finally, Red Door Wealth Management LLC boosted its holdings in Community Health Systems by 126.6% in the first quarter. Red Door Wealth Management LLC now owns 26,060 shares of the company’s stock valued at $91,000 after acquiring an additional 14,560 shares during the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.

Community Health Systems Stock Down 6.1 %

The stock has a fifty day moving average of $5.52 and a two-hundred day moving average of $4.35. The stock has a market cap of $554.47 million, a price-to-earnings ratio of -4.20 and a beta of 1.55.

Community Health Systems (NYSE:CYH) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.30) 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 the consensus estimate of $3.08 billion. Community Health Systems’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.33) EPS. Equities research analysts anticipate that Community Health Systems, Inc. will post -0.41 EPS for the current fiscal year.

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.