Charles Schwab Investment Management Inc. Has $3.89 Million Stake in Community Health Systems, Inc. (NYSE:CYH)

Charles Schwab Investment Management Inc. lowered its holdings in Community Health Systems, Inc. (NYSE:CYH) by 17.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,300,336 shares of the company’s stock after selling 273,854 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Community Health Systems were worth $3,888,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Apollon Wealth Management LLC bought a new stake in Community Health Systems during the 4th quarter worth about $60,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Community Health Systems by 93.1% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 49,580 shares of the company’s stock valued at $148,000 after purchasing an additional 23,902 shares during the last quarter. SG Americas Securities LLC raised its position in Community Health Systems by 166.7% in the 4th quarter. SG Americas Securities LLC now owns 59,529 shares of the company’s stock worth $178,000 after purchasing an additional 37,211 shares during the last quarter. Intech Investment Management LLC acquired a new position in Community Health Systems during the 3rd quarter worth $207,000. Finally, Franklin Resources Inc. increased its stake in shares of Community Health Systems by 4.1% in the 3rd quarter. Franklin Resources Inc. now owns 75,520 shares of the company’s stock valued at $422,000 after buying an additional 2,989 shares during the period. 84.99% of the stock is currently owned by institutional investors and hedge funds.

Community Health Systems Price Performance

NYSE:CYH opened at $2.78 on Thursday. The business’s 50-day simple moving average is $3.16 and its 200-day simple moving average is $3.91. Community Health Systems, Inc. has a fifty-two week low of $2.53 and a fifty-two week high of $6.29. The stock has a market capitalization of $389.59 million, a PE ratio of -0.71 and a beta of 1.81.

Community Health Systems (NYSE:CYH) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.51). The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.14 billion. On average, research analysts expect that Community Health Systems, Inc. will post -0.29 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. UBS Group cut their target price on shares of Community Health Systems from $4.80 to $4.10 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Barclays lowered their target price on shares of Community Health Systems from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Thursday, February 20th. Wells Fargo & Company cut their price target on Community Health Systems from $2.50 to $2.00 and set an “underweight” rating on the stock in a research note on Monday, March 10th. Truist Financial dropped their price objective on Community Health Systems from $5.00 to $3.50 and set a “hold” rating for the company in a report on Monday, January 6th. Finally, StockNews.com upgraded Community Health Systems from a “sell” rating to a “hold” rating in a research report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $4.10.

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.