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

Key Points

• Wells Fargo & Company has lowered its price target for Community Health Systems (NYSE:CYH) from $3.50 to $2.50, indicating a potential downside of 8.59% from the stock's previous close, along with an "underweight" rating.
• Community Health Systems has recently seen mixed reviews from analysts, with Truist increasing its target to $4.25 while others, including Barclays and Jefferies, reduced their targets, reflecting varied market sentiments.
• The company's stock has a current trading price of $2.74, with a 12-month low of $2.24 and average price targets pointing towards an overall "Hold" rating from analysts.

Community Health Systems (NYSE:CYH - Get Free Report) had its price objective cut by stock analysts at Wells Fargo & Company from $3.50 to $2.50 in a report released on Thursday,Benzinga reports. The firm presently has an "underweight" rating on the stock. Wells Fargo & Company's target price points to a potential downside of 6.89% from the company's current price.

A number of other equities research analysts also recently issued reports on the stock. UBS Group lowered their price target on shares of Community Health Systems from $3.50 to $3.20 and set a "neutral" rating on the stock in a report on Friday, July 25th. Truist Financial raised their price target on shares of Community Health Systems from $3.50 to $4.25 and gave the company a "hold" rating in a report on Wednesday, July 16th. Royal Bank Of Canada decreased their price target on shares of Community Health Systems from $6.00 to $5.00 and set an "outperform" rating on the stock in a report on Friday, July 25th. Jefferies Financial Group restated a "hold" rating and set a $3.00 target price (down from $4.25) on shares of Community Health Systems in a research report on Thursday, July 24th. Finally, Barclays lowered their price target 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. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $3.58.

Community Health Systems Trading Up 1.3%

Shares of CYH traded up $0.0350 during trading hours on Thursday, reaching $2.6850. 1,221,344 shares of the stock traded hands, compared to its average volume of 2,851,013. The company has a market cap of $376.22 million, a price-to-earnings ratio of -1.81 and a beta of 1.86. The stock has a fifty day simple moving average of $3.14 and a 200 day simple moving average of $3.14. Community Health Systems has a 52 week low of $2.24 and a 52 week high of $6.29.

Community Health Systems (NYSE:CYH - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.10). The company had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the previous year, the business earned ($0.17) earnings per share. The company's revenue for the quarter was down .2% compared to the same quarter last year. Community Health Systems has set its FY 2025 guidance at -0.400--0.100 EPS. Analysts predict that Community Health Systems will post -0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Community Health Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Nomura Holdings Inc. boosted its holdings in shares of Community Health Systems by 14,684.8% in the first quarter. Nomura Holdings Inc. now owns 5,776,701 shares of the company's stock valued at $15,597,000 after purchasing an additional 5,737,629 shares during the period. Renaissance Technologies LLC grew its position in shares of Community Health Systems by 913.9% during the 4th quarter. Renaissance Technologies LLC now owns 1,420,393 shares of the company's stock worth $4,247,000 after buying an additional 1,280,300 shares in the last quarter. Apollo Management Holdings L.P. raised its holdings in shares of Community Health Systems by 20.5% in the fourth quarter. Apollo Management Holdings L.P. now owns 6,689,741 shares of the company's stock valued at $20,002,000 after acquiring an additional 1,138,596 shares in the last quarter. Bank of America Corp DE lifted its stake in Community Health Systems by 112.4% in the second quarter. Bank of America Corp DE now owns 1,872,343 shares of the company's stock worth $6,366,000 after acquiring an additional 991,014 shares during the period. Finally, Whitebox Advisors LLC grew its holdings in Community Health Systems by 57.2% during the 4th quarter. Whitebox Advisors LLC now owns 2,300,111 shares of the company's stock worth $6,877,000 after acquiring an additional 837,338 shares in the last quarter. Institutional investors own 84.99% of the company's stock.

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.