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

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

A number of other research firms also recently commented on CYH. Wells Fargo & Company increased their price objective on shares of Community Health Systems from $3.50 to $5.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Oppenheimer boosted their price objective on Community Health Systems from $4.50 to $5.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $6.00 price target on shares of Community Health Systems in a report on Monday, August 12th. StockNews.com upgraded shares of Community Health Systems from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Truist Financial dropped their price target on shares of Community Health Systems from $5.50 to $5.00 and set a “hold” rating for the company in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.18.

Community Health Systems Price Performance

Shares of Community Health Systems stock opened at $3.65 on Friday. The business has a 50 day simple moving average of $5.02 and a two-hundred day simple moving average of $4.50. The stock has a market capitalization of $507.17 million, a P/E ratio of -1.21 and a beta of 1.60. Community Health Systems has a 12 month low of $2.31 and a 12 month 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 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. During the same quarter in the prior year, the firm earned ($0.33) EPS. The business’s quarterly revenue was up .1% compared to the same quarter last year. As a group, research analysts anticipate that Community Health Systems will post -0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Community Health Systems

Hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. purchased a new position in shares of Community Health Systems during the second quarter worth $5,121,000. Apollo Management Holdings L.P. purchased a new position in Community Health Systems during the 1st quarter valued at about $5,149,000. Bank of Montreal Can acquired a new position in Community Health Systems in the 2nd quarter valued at about $3,692,000. Whitebox Advisors LLC increased its stake in Community Health Systems by 43.3% during the second quarter. Whitebox Advisors LLC now owns 3,020,933 shares of the company’s stock worth $10,150,000 after purchasing an additional 913,542 shares during the period. Finally, Barclays PLC boosted its stake in shares of Community Health Systems by 1,278.2% in the third quarter. Barclays PLC now owns 707,805 shares of the company’s stock valued at $4,296,000 after purchasing an additional 656,447 shares during the period. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Community Health Systems Company Profile

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.