Community Health Systems (NYSE:CYH) Sets New 52-Week High at $5.82

Community Health Systems, Inc. (NYSE:CYH) hit a new 52-week high on Monday . The stock traded as high as $5.82 and last traded at $5.76, with a volume of 920078 shares traded. The stock had previously closed at $5.72.

Wall Street Analysts Forecast Growth

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

Community Health Systems Price Performance

The stock has a 50 day moving average of $4.91 and a two-hundred day moving average of $3.87. The stock has a market capitalization of $794.89 million, a PE ratio of -6.03 and a beta of 1.56.

Community Health Systems (NYSE:CYH) last posted its earnings results 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 business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the prior year, the business earned ($0.22) EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. As a group, research analysts predict that Community Health Systems, Inc. will post -0.42 earnings per share for the current fiscal year.

Institutional Trading of Community Health Systems

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its stake in Community Health Systems by 14.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,583,032 shares of the company’s stock valued at $17,475,000 after purchasing an additional 701,036 shares during the last quarter. Panagora Asset Management Inc. lifted its stake in shares of Community Health Systems by 0.9% during the fourth quarter. Panagora Asset Management Inc. now owns 730,256 shares of the company’s stock valued at $2,286,000 after buying an additional 6,333 shares during the period. RPO LLC acquired a new stake in Community Health Systems during the fourth quarter worth approximately $75,000. Eagle Asset Management Inc. purchased a new stake in Community Health Systems in the 4th quarter worth approximately $40,000. Finally, Lighthouse Investment Partners LLC purchased a new position in shares of Community Health Systems during the 4th quarter worth $300,000. 84.99% of the stock is currently 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.