Raymond James Downgrades Community Health Systems (NYSE:CYH) 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 research report issued to clients and investors on Friday,Briefing.com Automated Import reports.

Other equities analysts also recently issued reports about the company. Barclays boosted their price objective on 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 lowered their price objective 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. UBS Group boosted their target price on Community Health Systems from $4.70 to $5.10 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. Wells Fargo & Company boosted their target price on Community Health Systems from $3.50 to $5.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Finally, 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. One 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. Based on data from MarketBeat, Community Health Systems currently has an average rating of “Hold” and an average price target of $5.18.

Community Health Systems Stock Performance

Shares of Community Health Systems stock opened at $3.75 on Friday. The stock has a market cap of $521.06 million, a P/E ratio of -1.24 and a beta of 1.60. The stock’s fifty day moving average is $5.06 and its 200 day moving average is $4.49. 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 released its earnings results 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 company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.08 billion. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.33) EPS. Analysts predict that Community Health Systems will post -0.52 EPS for the current year.

Institutional Trading of Community Health Systems

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