Raymond James Downgrades Community Health Systems (NYSE:CYH) to Underperform

Raymond James lowered shares of Community Health Systems (NYSE:CYH) from a market perform rating to an underperform rating in a research note issued to investors on Friday, MarketBeat.com reports.

A number of other analysts have also issued reports on CYH. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $6.00 price target on shares of Community Health Systems in a research note on Monday, August 12th. Truist Financial lowered 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 note on Friday, October 25th. UBS Group increased their target price 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. Wells Fargo & Company boosted their price target on shares of Community Health Systems from $3.50 to $5.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Finally, Oppenheimer increased their price objective on shares of Community Health Systems from $4.50 to $5.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Community Health Systems currently has a consensus rating of “Hold” and an average target price of $4.77.

Community Health Systems Price Performance

CYH opened at $3.70 on Friday. The firm has a fifty day moving average price of $4.98 and a 200 day moving average price of $4.51. Community Health Systems has a 1 year low of $2.31 and a 1 year high of $6.29. The stock has a market cap of $514.12 million, a P/E ratio of -1.23 and a beta of 1.60.

Community Health Systems (NYSE:CYH) last released its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.30) earnings per share 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 last year, the firm earned ($0.33) earnings per share. The company’s revenue for the quarter was up .1% compared to the same quarter last year. Equities analysts expect that Community Health Systems will post -0.52 EPS for the current year.

Hedge Funds Weigh In On Community Health Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of CYH. nVerses Capital LLC acquired a new position in shares of Community Health Systems in the second quarter worth $25,000. DekaBank Deutsche Girozentrale acquired a new position in Community Health Systems during the 2nd quarter worth $33,000. Signaturefd LLC purchased a new stake in Community Health Systems during the 3rd quarter worth about $33,000. Canada Pension Plan Investment Board purchased a new position in shares of Community Health Systems in the 2nd quarter valued at about $45,000. Finally, CWM LLC grew its position in shares of Community Health Systems by 32.1% during the third quarter. CWM LLC now owns 12,191 shares of the company’s stock worth $74,000 after buying an additional 2,961 shares in the last quarter. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

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.