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

Community Health Systems (NYSE:CYH) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Monday.

Several other analysts have also recently weighed in on CYH. Raymond James cut shares of Community Health Systems from a “market perform” rating to an “underperform” rating in a report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $6.00 target price on shares of Community Health Systems in a report on Monday, August 12th. Wells Fargo & Company cut shares of Community Health Systems from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $5.00 to $2.50 in a report on Monday. Barclays raised their price objective on shares of Community Health Systems from $3.00 to $5.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Finally, Truist Financial cut their price objective on shares of Community Health Systems from $5.50 to $5.00 and set a “hold” rating on the stock in a report on Friday, October 25th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Community Health Systems has an average rating of “Hold” and an average target price of $4.77.

Community Health Systems Stock Performance

NYSE CYH opened at $3.56 on Monday. The firm has a 50 day simple moving average of $4.98 and a 200-day simple moving average of $4.51. Community Health Systems has a one year low of $2.31 and a one year high of $6.29. The firm has a market cap of $494.66 million, a price-to-earnings ratio of -1.18 and a beta of 1.60.

Community Health Systems (NYSE:CYH) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.14). The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the firm posted ($0.33) earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. Equities analysts predict that Community Health Systems will post -0.52 EPS for the current fiscal 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. Vanguard Group Inc. grew its position in Community Health Systems by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 8,124,617 shares of the company’s stock valued at $28,436,000 after buying an additional 28,669 shares during the last quarter. Quadrature Capital Ltd grew its position in Community Health Systems by 236.2% in the 1st quarter. Quadrature Capital Ltd now owns 105,777 shares of the company’s stock valued at $370,000 after buying an additional 74,319 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Community Health Systems by 7.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 96,027 shares of the company’s stock worth $337,000 after purchasing an additional 6,852 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Community Health Systems by 384.7% during the 2nd 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. purchased a new stake in shares of Community Health Systems during the 2nd quarter worth $5,121,000. 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.