Zacks Investment Research cut shares of Community Health Systems, Inc. (NYSE:CYH) from a hold rating to a strong sell rating in a research report report published on Tuesday morning.

According to Zacks, “Community Health shares have underperformed the industry in last one year. The company severely suffers from revenue concentration  as it generates a significant part of its revenues from a selected number of states like Florida, Pennsylvania, Texas, Indiana and Tennessee. Its performance has been disappointing with revenues declining since past many years. Following lackluster second quarter results, the company has lowered its 2017 EPS guidance. It has seen the Zacks Consensus Estimate for 2017 and 2018 earnings being revised downward in the past 60 days.”

A number of other brokerages also recently issued reports on CYH. ValuEngine upgraded Community Health Systems from a sell rating to a hold rating in a research note on Friday, September 1st. Royal Bank Of Canada reissued a hold rating and issued a $7.00 target price on shares of Community Health Systems in a report on Friday, August 4th. UBS AG restated a neutral rating and set a $8.00 target price (down previously from $10.00) on shares of Community Health Systems in a research note on Wednesday, August 23rd. Jefferies Group LLC restated a hold rating and set a $7.00 target price on shares of Community Health Systems in a research note on Sunday, July 30th. Finally, Morgan Stanley started coverage on shares of Community Health Systems in a research note on Tuesday, June 6th. They set an underweight rating and a $9.50 target price on the stock. Six investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the stock. Community Health Systems has a consensus rating of Hold and an average target price of $7.56.

Community Health Systems (NYSE CYH) traded down 4.14% on Tuesday, reaching $7.41. The company’s stock had a trading volume of 1,759,160 shares. The stock’s market cap is $829.44 million. Community Health Systems has a one year low of $4.15 and a one year high of $11.68. The stock has a 50-day moving average of $7.40 and a 200-day moving average of $8.49.

Community Health Systems (NYSE:CYH) last issued its quarterly earnings results on Tuesday, August 1st. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.31). Community Health Systems had a positive return on equity of 0.07% and a negative net margin of 3.63%. The company had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter in the previous year, the company earned $0.09 EPS. The business’s quarterly revenue was down 9.7% compared to the same quarter last year. On average, analysts predict that Community Health Systems will post ($0.31) EPS for the current fiscal year.

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In other news, major shareholder Tian Qiao Chen acquired 9,766,897 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were acquired at an average cost of $7.27 per share, with a total value of $71,005,341.19. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 4.70% of the company’s stock.

Several hedge funds have recently bought and sold shares of CYH. Russell Investments Group Ltd. increased its position in Community Health Systems by 22.3% in the first quarter. Russell Investments Group Ltd. now owns 129,006 shares of the company’s stock worth $1,144,000 after purchasing an additional 23,496 shares during the last quarter. Wells Fargo & Company MN raised its stake in Community Health Systems by 67.5% during the first quarter. Wells Fargo & Company MN now owns 214,201 shares of the company’s stock valued at $1,900,000 after purchasing an additional 86,320 shares in the last quarter. First Trust Advisors LP purchased a new stake in Community Health Systems during the first quarter valued at $281,000. Bank of New York Mellon Corp raised its stake in Community Health Systems by 6.0% during the first quarter. Bank of New York Mellon Corp now owns 1,453,363 shares of the company’s stock valued at $12,892,000 after purchasing an additional 82,186 shares in the last quarter. Finally, Comerica Bank raised its stake in Community Health Systems by 4.7% during the first quarter. Comerica Bank now owns 126,579 shares of the company’s stock valued at $1,067,000 after purchasing an additional 5,655 shares in the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

Community Health Systems Company Profile

Community Health Systems, Inc is an operator of general acute care hospitals and outpatient facilities in communities across the country. The Company operates through hospital operations segment, which includes its general acute care hospitals and related healthcare entities that provide inpatient and outpatient healthcare services.

Analyst Recommendations for Community Health Systems (NYSE:CYH)

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