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

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

Other research analysts have also issued reports about the stock. Barclays raised their price objective on shares of Community Health Systems from $3.00 to $5.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Oppenheimer raised their price objective on shares of Community Health Systems from $4.50 to $5.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. UBS Group raised their price objective 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. Royal Bank of Canada restated an “outperform” rating and issued a $6.00 price objective on shares of Community Health Systems in a research report on Monday, August 12th. Finally, Truist Financial cut their price objective on shares of Community Health Systems from $5.50 to $5.00 and set a “hold” rating for the company in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Community Health Systems has a consensus rating of “Hold” and an average price target of $5.18.

Community Health Systems Trading Down 0.8 %

NYSE CYH traded down $0.04 on Thursday, hitting $4.39. 1,440,503 shares of the company were exchanged, compared to its average volume of 1,806,141. The company has a market cap of $609.30 million, a PE ratio of -1.45 and a beta of 1.60. Community Health Systems has a 12 month low of $2.28 and a 12 month high of $6.29. The stock has a fifty day moving average of $5.38 and a 200-day moving average of $4.43.

Community Health Systems (NYSE:CYH) last issued its earnings results on Wednesday, October 23rd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.14). The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.08 billion. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.33) earnings per share. On average, analysts expect that Community Health Systems will post -0.52 earnings per share for the current year.

Institutional Investors Weigh In On Community Health Systems

Several hedge funds have recently bought and sold shares of CYH. Aigen Investment Management LP purchased a new position in shares of Community Health Systems during the third quarter worth approximately $94,000. Versor Investments LP purchased a new position in Community Health Systems during the 3rd quarter valued at $186,000. Los Angeles Capital Management LLC raised its holdings in Community Health Systems by 301.3% in 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 in the last quarter. Semanteon Capital Management LP bought a new position in Community Health Systems in the 3rd quarter worth $610,000. Finally, Assenagon Asset Management S.A. raised its holdings in Community Health Systems by 6.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,616,212 shares of the company’s stock worth $9,810,000 after purchasing an additional 91,985 shares in the last quarter. 84.99% of the stock is currently owned by 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.