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

Community Health Systems (NYSE:CYH) was downgraded by investment analysts at Raymond James from a “market perform” rating to an “underperform” rating in a research note issued on Friday,Briefing.com Automated Import reports.

Several other research firms have also commented on CYH. Wells Fargo & Company lifted their price target on shares of 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $6.00 price target on shares of Community Health Systems in a research report on Monday, August 12th. Barclays lifted their price target on shares of 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. Truist Financial reduced 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 report on Friday, October 25th. Finally, UBS Group lifted their target price on shares of Community Health Systems from $4.70 to $5.10 and gave the company a “neutral” rating in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $5.18.

Community Health Systems Trading Down 2.1 %

Shares of Community Health Systems stock opened at $3.75 on Friday. The firm’s 50-day moving average price is $5.06 and its 200 day moving average price is $4.49. Community Health Systems has a twelve month low of $2.31 and a twelve month high of $6.29. The firm has a market capitalization of $521.06 million, a PE ratio of -1.24 and a beta of 1.60.

Community Health Systems (NYSE:CYH) last released its 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 business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter last year, the business earned ($0.33) earnings per share. Community Health Systems’s quarterly revenue was up .1% on a year-over-year basis. On average, sell-side analysts predict that Community Health Systems will post -0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Community Health Systems

Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC grew its stake in shares of Community Health Systems by 384.7% in the second quarter. SG Americas Securities LLC now owns 212,852 shares of the company’s stock worth $715,000 after acquiring an additional 168,941 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Community Health Systems by 301.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 334,189 shares of the company’s stock worth $2,029,000 after purchasing an additional 250,909 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of 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 last quarter. Hood River Capital Management LLC purchased a new stake in shares of Community Health Systems during the 2nd quarter worth $789,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Community Health Systems during the 2nd quarter worth $871,000. 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.