Zacks Investment Research upgraded shares of Community Health Systems (NYSE:CYH) from a sell rating to a hold rating in a research report report published on Wednesday.

According to Zacks, “Community Health is well poised for long term growth on the back of its inorganic strategies. The company’s frequent divestitures to streamline core operations have helped it lower its debt burden. As a part of their restructuring plan, the company has started taking up certain corrective measures in order to bring improvement to its top line. However, the company’s shares have underperformed the industry in a year’s time. It has seen a continuous decline in its revenues that has been putting pressure on the bottom line. Following lackluster third-quarter results, the company has lowered its 2017 earnings per share guidance. It has seen its Zacks Consensus Estimate for 2018 earnings being revised downward in the past 60 days.”

A number of other research firms also recently issued reports on CYH. JPMorgan Chase & Co. downgraded shares of Community Health Systems from a neutral rating to an underweight rating in a report on Thursday, December 14th. Cantor Fitzgerald restated a hold rating and set a $6.00 price objective on shares of Community Health Systems in a report on Sunday, November 5th. ValuEngine downgraded shares of Community Health Systems from a hold rating to a sell rating in a report on Wednesday, October 11th. Morgan Stanley decreased their price objective on shares of Community Health Systems from $6.50 to $4.50 and set an underweight rating for the company in a report on Friday, November 3rd. Finally, Royal Bank of Canada restated a hold rating and set a $5.00 price objective on shares of Community Health Systems in a report on Tuesday, November 7th. Seven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $6.21.

Community Health Systems (NYSE:CYH) traded up $0.06 during midday trading on Wednesday, reaching $5.21. 3,120,160 shares of the company were exchanged, compared to its average volume of 3,231,550. Community Health Systems has a 1-year low of $3.85 and a 1-year high of $10.51. The company has a debt-to-equity ratio of 10.62, a current ratio of 2.05 and a quick ratio of 1.86.

Community Health Systems (NYSE:CYH) last posted its quarterly earnings data on Wednesday, November 1st. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.47). Community Health Systems had a negative return on equity of 3.10% and a negative net margin of 3.97%. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter last year, the business posted ($0.35) EPS. The business’s quarterly revenue was down 16.3% on a year-over-year basis. equities research analysts anticipate that Community Health Systems will post -1.25 EPS for the current year.

In other Community Health Systems news, major shareholder Tian Qiao Chen bought 100,164 shares of the business’s stock in a transaction on Thursday, December 7th. The stock was purchased at an average price of $3.96 per share, for a total transaction of $396,649.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired 1,980,484 shares of company stock valued at $7,878,489 in the last quarter. Company insiders own 4.70% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC boosted its position in shares of Community Health Systems by 0.3% in the second quarter. HighTower Advisors LLC now owns 17,203 shares of the company’s stock valued at $170,000 after acquiring an additional 51 shares during the period. Group One Trading L.P. boosted its position in shares of Community Health Systems by 27.5% in the second quarter. Group One Trading L.P. now owns 14,765 shares of the company’s stock valued at $147,000 after acquiring an additional 3,189 shares during the period. Voya Investment Management LLC boosted its position in shares of Community Health Systems by 10.3% in the second quarter. Voya Investment Management LLC now owns 49,870 shares of the company’s stock valued at $497,000 after acquiring an additional 4,640 shares during the period. Shelton Capital Management bought a new position in shares of Community Health Systems in the second quarter valued at approximately $110,000. Finally, Sterling Capital Management LLC boosted its position in shares of Community Health Systems by 44.9% in the second quarter. Sterling Capital Management LLC now owns 39,069 shares of the company’s stock valued at $389,000 after acquiring an additional 12,097 shares during the period.

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About Community Health Systems

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.

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