Community Health Systems (NYSE:CYH) Shares Up 5.6% – Here’s Why

Community Health Systems, Inc. (NYSE:CYH)’s stock price was up 5.6% during trading on Wednesday . The stock traded as high as $3.78 and last traded at $3.77. Approximately 84,541 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 1,806,226 shares. The stock had previously closed at $3.57.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of Community Health Systems from $4.70 to $5.10 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Raymond James downgraded shares of Community Health Systems from a “market perform” rating to an “underperform” rating in a report on Friday, November 22nd. Truist Financial dropped their price objective on shares of Community Health Systems from $5.50 to $5.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Wells Fargo & Company downgraded Community Health Systems from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $5.00 to $2.50 in a report on Monday. Finally, Barclays raised their price objective on shares of Community Health Systems from $3.00 to $5.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Community Health Systems currently has a consensus rating of “Hold” and a consensus target price of $4.77.

Community Health Systems Stock Performance

The stock’s fifty day moving average price is $4.94 and its two-hundred day moving average price is $4.51. The company has a market cap of $484.93 million, a P/E ratio of -1.15 and a beta of 1.60.

Community Health Systems (NYSE:CYH) last released its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.14). The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the firm earned ($0.33) earnings per share. Community Health Systems’s quarterly revenue was up .1% compared to the same quarter last year. On average, equities research analysts forecast that Community Health Systems, Inc. will post -0.52 EPS for the current year.

Institutional Trading of Community Health Systems

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Community Health Systems by 0.4% in the first quarter. Vanguard Group Inc. now owns 8,124,617 shares of the company’s stock valued at $28,436,000 after purchasing an additional 28,669 shares in the last quarter. Quadrature Capital Ltd boosted its position in Community Health Systems by 236.2% in the 1st quarter. Quadrature Capital Ltd now owns 105,777 shares of the company’s stock worth $370,000 after purchasing an additional 74,319 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Community Health Systems by 7.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 96,027 shares of the company’s stock valued at $337,000 after purchasing an additional 6,852 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Community Health Systems by 384.7% during the 2nd quarter. SG Americas Securities LLC now owns 212,852 shares of the company’s stock worth $715,000 after purchasing an additional 168,941 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in Community Health Systems during the 2nd quarter valued at about $5,121,000. 84.99% of the stock is owned by hedge funds and other institutional investors.

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.