Community Health Systems (NYSE:CYH) Stock Gets Price Target Reduction from Wells Fargo & Company

Community Health Systems (NYSE:CYH) had its price objective reduced by Wells Fargo & Company from $2.00 to $1.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

A number of other equities analysts have also recently commented on the company. BMO Capital Markets began coverage on Community Health Systems in a report on Tuesday, September 22nd. They set a “market perform” rating and a $3.00 target price for the company. Royal Bank Of Canada lowered their price target on Community Health Systems from $5.00 to $4.00 and set an “outperform” rating on the stock in a research note on Monday, July 27th. Barclays lowered their price target on Community Health Systems from $3.00 to $2.50 and set an “underweight” rating on the stock in a research note on Thursday, July 23rd. Weiss Ratings cut Community Health Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 14th. Finally, Wall Street Zen downgraded Community Health Systems from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Community Health Systems presently has an average rating of “Reduce” and an average price target of $2.51.

Community Health Systems Stock Down 4.0%

CYH opened at $2.29 on Tuesday. Community Health Systems has a twelve month low of $2.04 and a twelve month high of $3.92. The company has a 50-day moving average price of $2.81 and a 200 day moving average price of $3.02. The company has a market cap of $322.25 million, a PE ratio of 8.79 and a beta of 1.90.

Community Health Systems (NYSE:CYH) last issued its quarterly earnings results on Wednesday, October 28th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.19). Community Health Systems had a net margin of 0.31% and a negative return on equity of 6.66%. The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the prior year, the business posted $1.27 earnings per share. The company’s quarterly revenue was down 10.7% compared to the same quarter last year. As a group, sell-side analysts expect that Community Health Systems will post -1.54 earnings per share for the current year.

Insider Buying and Selling at Community Health Systems

In related news, Director William Jennings sold 40,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $2.96, for a total transaction of $118,400.00. Following the transaction, the director directly owned 38,468 shares in the company, valued at approximately $113,865.28. The trade was a 50.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 11.10% of the company’s stock.

Institutional Trading of Community Health Systems

Hedge funds have recently bought and sold shares of the business. M Holdings Securities Inc. purchased a new position in Community Health Systems in the 3rd quarter worth approximately $72,000. Prescott Group Capital Management L.L.C. boosted its holdings in shares of Community Health Systems by 27.1% during the 3rd quarter. Prescott Group Capital Management L.L.C. now owns 328,406 shares of the company’s stock worth $939,000 after purchasing an additional 70,000 shares during the last quarter. State of Wyoming grew its position in shares of Community Health Systems by 21.8% in the third quarter. State of Wyoming now owns 141,030 shares of the company’s stock valued at $403,000 after purchasing an additional 25,259 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Community Health Systems in the second quarter valued at approximately $64,000. Finally, Readystate Asset Management LP increased its holdings in shares of Community Health Systems by 37.3% in the second quarter. Readystate Asset Management LP now owns 496,326 shares of the company’s stock valued at $1,658,000 after purchasing an additional 134,829 shares during the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.

About Community Health Systems

Community Health Systems, Inc (NYSE: CYH) is a healthcare services company that owns, leases, and operates general acute-care hospitals and related healthcare facilities in the United States. The company focuses primarily on serving communities in small cities and non-urban markets, providing access to hospital-based and outpatient care.

Its services generally include emergency care, inpatient and outpatient treatment, surgery, diagnostic imaging, laboratory services, rehabilitation, and other clinical programs.