Community Health Systems (NYSE:CYH) Trading Down 6.5%

Community Health Systems, Inc. (NYSE:CYH)’s share price traded down 6.5% during trading on Thursday . The company traded as low as $5.42 and last traded at $5.44. 485,390 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 1,771,991 shares. The stock had previously closed at $5.82.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Oppenheimer boosted their target price 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $6.00 target price on shares of Community Health Systems in a report on Monday, August 12th. UBS Group upped their price objective on shares of Community Health Systems from $4.70 to $5.10 and gave the company a “neutral” rating in a report on Wednesday, August 14th. Wells Fargo & Company upped 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, Truist Financial upped their price objective 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. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $4.73.

Community Health Systems Stock Performance

The company’s fifty day moving average is $5.37 and its two-hundred day moving average is $4.10. The company has a market cap of $746.25 million, a price-to-earnings ratio of -5.67 and a beta of 1.56.

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

Institutional Investors Weigh In On Community Health Systems

Several hedge funds have recently bought and sold shares of CYH. Assenagon Asset Management S.A. purchased a new position in shares of Community Health Systems during the 2nd quarter valued at approximately $5,121,000. Apollo Management Holdings L.P. purchased a new position in shares of Community Health Systems during the 1st quarter valued at approximately $5,149,000. Bank of Montreal Can purchased a new position in shares of Community Health Systems during the 2nd quarter valued at approximately $3,692,000. Whitebox Advisors LLC lifted its position in shares of Community Health Systems by 43.3% during the 2nd quarter. Whitebox Advisors LLC now owns 3,020,933 shares of the company’s stock valued at $10,150,000 after buying an additional 913,542 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Community Health Systems during the 1st quarter valued at approximately $1,132,000. Hedge funds and other institutional investors own 84.99% of the company’s stock.

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.