Community Health Systems (NYSE:CYH) Shares Down 3.8% Following Analyst Downgrade

Community Health Systems, Inc. (NYSE:CYH - Get Free Report) shares traded down 3.8% during trading on Friday after Truist Financial lowered their price target on the stock from $5.50 to $5.00. Truist Financial currently has a hold rating on the stock. Community Health Systems traded as low as $4.09 and last traded at $4.09. 481,042 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 1,778,177 shares. The stock had previously closed at $4.25.

CYH has been the subject of several other research reports. Royal Bank of Canada restated an "outperform" rating and set a $6.00 price target on shares of Community Health Systems in a research report on Monday, August 12th. UBS Group lifted their price target on Community Health Systems from $4.70 to $5.10 and gave the company a "neutral" rating in a report on Wednesday, August 14th. Wells Fargo & Company increased their price objective on Community Health Systems from $3.50 to $5.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 30th. Oppenheimer increased their price target 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. Finally, Barclays upped 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 report on Thursday. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $5.18.

Institutional Trading of Community Health Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC increased its holdings in shares of Community Health Systems by 384.7% in the second quarter. SG Americas Securities LLC now owns 212,852 shares of the company's stock valued at $715,000 after buying an additional 168,941 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Community Health Systems in the 1st quarter valued at $1,132,000. Vanguard Group Inc. increased its stake in Community Health Systems by 0.4% in the 1st 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 in the last quarter. Hood River Capital Management LLC purchased a new stake in Community Health Systems during the second quarter valued at about $789,000. Finally, Red Door Wealth Management LLC boosted its holdings in shares of Community Health Systems by 126.6% in the first quarter. Red Door Wealth Management LLC now owns 26,060 shares of the company's stock worth $91,000 after buying an additional 14,560 shares during the period. 84.99% of the stock is currently owned by institutional investors.

Community Health Systems Price Performance

The firm has a market cap of $554.47 million, a price-to-earnings ratio of -4.21 and a beta of 1.55. The stock's fifty day moving average price is $5.54 and its 200-day moving average price is $4.34.

Community Health Systems (NYSE:CYH - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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. During the same period in the prior year, the firm earned ($0.33) EPS. The firm's quarterly revenue was up .1% on a year-over-year basis. As a group, equities research analysts predict that Community Health Systems, Inc. will post -0.41 EPS for the current fiscal year.

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.