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

Wells Fargo & Company cut shares of Community Health Systems (NYSE:CYH) from an equal weight rating to an underweight rating in a research note released on Monday morning, MarketBeat.com reports. The firm currently has $2.50 price target on the stock, down from their prior price target of $5.00.

Several other research firms have also issued reports on CYH. StockNews.com upgraded Community Health Systems from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Barclays boosted 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 research report on Thursday, October 24th. Truist Financial reduced their price target on 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. Raymond James lowered Community Health Systems from a “market perform” rating to an “underperform” rating in a research note on Friday. Finally, UBS Group upped their price target on Community Health Systems from $4.70 to $5.10 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.77.

Community Health Systems Price Performance

NYSE:CYH opened at $3.70 on Monday. The stock has a market cap of $514.12 million, a P/E ratio of -1.23 and a beta of 1.60. The company 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 one year low of $2.31 and a one year high of $6.29.

Community Health Systems (NYSE:CYH) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.14). The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.08 billion. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.33) earnings per share. As a group, equities research analysts anticipate that Community Health Systems will post -0.52 EPS for the current year.

Institutional Investors Weigh In On Community Health Systems

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