Community Health Systems (NYSE:CYH) Shares Up 8% – Should You Buy?

Community Health Systems, Inc. (NYSE:CYH) shot up 8% on Friday . The company traded as high as $5.80 and last traded at $5.80. 563,520 shares were traded during mid-day trading, a decline of 68% from the average session volume of 1,770,222 shares. The stock had previously closed at $5.37.

Analysts Set New Price Targets

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

Community Health Systems Stock Performance

The company has a market capitalization of $792.11 million, a P/E ratio of -5.97 and a beta of 1.56. The firm’s fifty day moving average is $5.38 and its 200 day moving average is $4.11.

Community Health Systems (NYSE:CYH) last issued its quarterly 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 firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.10 billion. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.22) EPS. On average, analysts forecast that Community Health Systems, Inc. will post -0.42 EPS for the current year.

Hedge Funds Weigh In On Community Health Systems

A number of hedge funds have recently added to or reduced their stakes in CYH. nVerses Capital LLC bought a new position in Community Health Systems during the 2nd quarter worth about $25,000. DekaBank Deutsche Girozentrale bought a new position in shares of Community Health Systems during the second quarter valued at approximately $33,000. Eagle Asset Management Inc. bought a new position in Community Health Systems in the fourth quarter worth approximately $40,000. Canada Pension Plan Investment Board bought a new stake in Community Health Systems during the second quarter valued at about $45,000. Finally, BOS Asset Management LLC acquired a new stake in shares of Community Health Systems during the first quarter worth about $80,000. 84.99% of the stock is currently owned by institutional investors.

Community Health Systems Company Profile

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.