Wells Fargo & Company Lowers Community Health Systems (NYSE:CYH) Price Target to $2.50

Community Health Systems (NYSE:CYH) had its price objective reduced by Wells Fargo & Company from $3.50 to $2.50 in a report issued on Thursday morning,Benzinga reports. They currently have an underweight rating on the stock.

CYH has been the subject of a number of other reports. Jefferies Financial Group reiterated a “hold” rating and set a $3.00 price target (down from $4.25) on shares of Community Health Systems in a report on Thursday, July 24th. UBS Group cut their price objective on Community Health Systems from $3.50 to $3.20 and set a “neutral” rating on the stock in a report on Friday, July 25th. Royal Bank Of Canada cut their price objective on Community Health Systems from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday, July 25th. Truist Financial boosted their price objective on Community Health Systems from $3.50 to $4.25 and gave the company a “hold” rating in a report on Wednesday, July 16th. Finally, Barclays cut their price objective on Community Health Systems from $4.00 to $3.50 and set an “equal weight” rating on the stock in a report on Thursday, July 24th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $3.58.

Community Health Systems Stock Down 1.3%

NYSE CYH opened at $2.74 on Thursday. The firm has a market cap of $383.23 million, a PE ratio of -1.84 and a beta of 1.86. Community Health Systems has a 52 week low of $2.24 and a 52 week high of $6.29. The business’s fifty day simple moving average is $3.18 and its 200-day simple moving average is $3.15.

Community Health Systems (NYSE:CYH) last released its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.10). The firm had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.02 billion. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.17) EPS. Research analysts expect that Community Health Systems will post -0.29 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CYH. Tower Research Capital LLC TRC increased its holdings in Community Health Systems by 250.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,023 shares of the company’s stock valued at $27,000 after buying an additional 6,445 shares during the last quarter. R Squared Ltd increased its holdings in Community Health Systems by 71.6% in the first quarter. R Squared Ltd now owns 10,950 shares of the company’s stock valued at $30,000 after buying an additional 4,570 shares during the last quarter. CWM LLC increased its holdings in Community Health Systems by 133.1% in the second quarter. CWM LLC now owns 10,974 shares of the company’s stock valued at $37,000 after buying an additional 6,266 shares during the last quarter. Two Sigma Securities LLC purchased a new position in Community Health Systems in the fourth quarter valued at $33,000. Finally, Savvy Advisors Inc. purchased a new position in Community Health Systems in the second quarter valued at $40,000. 84.99% of the stock is currently owned by hedge funds and other 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.