Community Health Systems (NYSE:CYH) Given New $1.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo cut Community Health Systems’ price target from $2.00 to $1.00 and maintained an “underweight” rating, implying roughly 53.6% downside from the reported $2.15 share price.
• Analyst sentiment remains negative: the stock has an average “Reduce” rating and a consensus price target of $2.72, with one Buy, four Hold, and three Sell ratings.
• Community Health Systems reported a quarterly loss of $0.48 per share, missing estimates by $0.19, while revenue fell 10.7% year over year to $2.76 billion and analysts expect a full-year loss of $1.65 per share.

Community Health Systems (NYSE:CYH - Get Free Report) had its price objective dropped by equities researchers at Wells Fargo & Company from $2.00 to $1.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an "underweight" rating on the stock. Wells Fargo & Company's price objective points to a potential downside of 53.60% from the stock's current price.

A number of other research analysts also recently issued reports on the stock. Weiss Ratings downgraded shares of Community Health Systems from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, October 14th. Royal Bank Of Canada reduced their price target on shares of Community Health Systems from $5.00 to $4.00 and set an "outperform" rating for the company in a report on Monday, July 27th. Truist Financial decreased their price target on shares of Community Health Systems from $3.75 to $3.25 and set a "hold" rating for the company in a research note on Monday, July 27th. UBS Group dropped their price objective on shares of Community Health Systems from $3.00 to $2.55 and set a "neutral" rating on the stock in a report on Friday. Finally, BMO Capital Markets started coverage on shares of Community Health Systems in a research report on Tuesday, September 22nd. They set a "market perform" rating and a $3.00 price objective on the stock. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, Community Health Systems presently has an average rating of "Reduce" and a consensus price target of $2.72.

Community Health Systems Stock Performance

Shares of NYSE:CYH traded up $0.06 during midday trading on Tuesday, reaching $2.15. The company's stock had a trading volume of 384,522 shares, compared to its average volume of 1,611,128. The firm has a market capitalization of $303.88 million, a price-to-earnings ratio of 8.17 and a beta of 1.88. The firm has a 50 day moving average price of $2.85 and a two-hundred day moving average price of $3.03. Community Health Systems has a fifty-two week low of $2.06 and a fifty-two week high of $3.92.

Community Health Systems (NYSE:CYH - Get Free Report) last issued its 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). The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.80 billion. Community Health Systems had a negative return on equity of 6.66% and a net margin of 0.31%. The company's revenue for the quarter was down 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.27 earnings per share. As a group, research analysts anticipate that Community Health Systems will post -1.65 earnings per share for the current year.

Insider Buying and Selling

In other news, Director William Jennings sold 40,000 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $2.96, for a total value of $118,400.00. Following the completion of the sale, the director directly owned 38,468 shares of the company's stock, valued at $113,865.28. This represents a 50.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 11.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Lombard Odier Asset Management USA Corp lifted its position in shares of Community Health Systems by 5.2% during the first quarter. Lombard Odier Asset Management USA Corp now owns 101,000 shares of the company's stock valued at $297,000 after purchasing an additional 5,000 shares in the last quarter. State of Wyoming grew its position in Community Health Systems by 13.2% in the 1st quarter. State of Wyoming now owns 112,127 shares of the company's stock worth $330,000 after purchasing an additional 13,100 shares in the last quarter. Legal & General Group Plc purchased a new stake in Community Health Systems in the 2nd quarter valued at about $45,000. Y Intercept Hong Kong Ltd purchased a new stake in Community Health Systems in the 1st quarter valued at about $40,000. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Community Health Systems during the 2nd quarter worth approximately $64,000. Hedge funds and other institutional investors own 84.99% of the company's stock.

Community Health Systems Company Profile

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.

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