Community Health Systems Target of Unusually Large Options Trading (NYSE:CYH)

Community Health Systems, Inc. (NYSE:CYH) was the target of some unusual options trading on Friday. Traders purchased 11,316 call options on the stock. This is an increase of 612% compared to the average volume of 1,590 call options.

Community Health Systems Trading Up 2.9 %

Shares of NYSE CYH opened at $5.70 on Friday. The firm has a 50-day moving average of $4.59 and a two-hundred day moving average of $3.73. The company has a market capitalization of $792.11 million, a price-to-earnings ratio of -6.00 and a beta of 1.56. Community Health Systems has a twelve month low of $2.01 and a twelve month high of $5.81.

Community Health Systems (NYSE:CYH) last released its quarterly earnings data on Wednesday, July 24th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.05). The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.10 billion. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.22) earnings per share. As a group, research analysts predict that Community Health Systems will post -0.42 earnings per share for the current year.

Hedge Funds Weigh In On Community Health Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new stake in shares of Community Health Systems in the second quarter worth approximately $25,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Community Health Systems during the 2nd quarter worth about $33,000. Eagle Asset Management Inc. acquired a new stake in shares of Community Health Systems during the 4th quarter valued at about $40,000. Canada Pension Plan Investment Board acquired a new position in Community Health Systems in the second quarter worth approximately $45,000. Finally, RPO LLC bought a new position in Community Health Systems during the fourth quarter valued at approximately $75,000. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CYH has been the topic of a number of recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $6.00 target price on shares of Community Health Systems in a report on Monday, August 12th. Wells Fargo & Company boosted their price objective on Community Health Systems from $3.50 to $5.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. UBS Group increased their target price on Community Health Systems from $4.70 to $5.10 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. Truist Financial boosted their price target on shares of Community Health Systems from $3.75 to $4.25 and gave the company a “hold” rating in a report on Monday, July 15th. Finally, Oppenheimer increased their price objective on shares of Community Health Systems from $4.50 to $5.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Community Health Systems has an average rating of “Hold” and an average target price of $4.73.

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.