Community Health Systems (NYSE:CYH) Rating Lowered to "Underweight" at Wells Fargo & Company

Wells Fargo & Company downgraded shares of Community Health Systems (NYSE:CYH - Free Report) from an equal weight rating to an underweight rating in a research note released on Monday, Marketbeat.com reports. Wells Fargo & Company currently has $2.50 price target on the stock, down from their previous price target of $5.00.

A number of other research firms also recently issued reports on CYH. Raymond James downgraded shares of Community Health Systems from a "market perform" rating to an "underperform" rating in a report on Friday. Truist Financial cut 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. StockNews.com upgraded Community Health Systems from a "sell" rating to a "hold" rating in a report on Friday, November 15th. UBS Group upped their price objective on Community Health Systems from $4.70 to $5.10 and gave the stock a "neutral" rating in a research note on Wednesday, August 14th. Finally, Barclays boosted their target price on shares of Community Health Systems from $3.00 to $5.00 and gave the stock an "equal weight" rating in a report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $4.77.

Community Health Systems Stock Performance

CYH stock traded up $0.06 during mid-day trading on Monday, hitting $3.71. 1,141,539 shares of the company were exchanged, compared to its average volume of 1,810,589. The firm has a market cap of $515.50 million, a P/E ratio of -1.20 and a beta of 1.60. Community Health Systems has a 1-year low of $2.31 and a 1-year high of $6.29. The firm's 50 day simple moving average is $5.02 and its 200 day simple moving average is $4.50.

Community Health Systems (NYSE:CYH - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.30) 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. During the same quarter in the prior year, the company earned ($0.33) earnings per share. The company's quarterly revenue was up .1% compared to the same quarter last year. On average, equities research analysts predict that Community Health Systems will post -0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Community Health Systems

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Community Health Systems by 0.4% during the first 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 period. Whitebox Advisors LLC raised its stake in Community Health Systems by 43.3% in the 2nd 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 in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Community Health Systems by 2.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,748,786 shares of the company's stock worth $5,875,000 after purchasing an additional 43,145 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Community Health Systems by 6.0% in the third quarter. Assenagon Asset Management S.A. now owns 1,616,212 shares of the company's stock valued at $9,810,000 after buying an additional 91,985 shares during the period. Finally, Bank of Montreal Can bought a new position in Community Health Systems during the 2nd quarter worth $3,692,000. 84.99% of the stock is currently owned by institutional investors and hedge funds.

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.