Community Health Systems (NYSE:CYH) Sets New 1-Year High at $5.82

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

Analyst Upgrades and Downgrades

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

Community Health Systems Trading Up 0.7 %

The firm has a market capitalization of $800.29 million, a P/E ratio of -6.02 and a beta of 1.56. The stock has a 50-day simple moving average of $4.81 and a two-hundred day simple moving average of $3.83.

Community Health Systems (NYSE:CYH) last announced 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 for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the previous year, the firm earned ($0.22) earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, research analysts expect that Community Health Systems, Inc. will post -0.42 EPS for the current year.

Hedge Funds Weigh In On Community Health Systems

Hedge funds and other institutional investors have recently modified their holdings of the business. Algert Global LLC boosted its stake in Community Health Systems by 250.7% in the second quarter. Algert Global LLC now owns 113,643 shares of the company’s stock valued at $382,000 after acquiring an additional 81,236 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its stake in Community Health Systems by 13.7% in the second quarter. Susquehanna Fundamental Investments LLC now owns 367,593 shares of the company’s stock valued at $1,235,000 after acquiring an additional 44,181 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Community Health Systems by 6.8% in the second quarter. Mackenzie Financial Corp now owns 33,269 shares of the company’s stock valued at $112,000 after acquiring an additional 2,106 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Community Health Systems by 5.8% in the second quarter. The Manufacturers Life Insurance Company now owns 49,701 shares of the company’s stock valued at $167,000 after acquiring an additional 2,739 shares in the last quarter. Finally, Whitebox Advisors LLC boosted its stake in Community Health Systems by 43.3% in the second quarter. Whitebox Advisors LLC now owns 3,020,933 shares of the company’s stock valued at $10,150,000 after acquiring an additional 913,542 shares in the last quarter. 84.99% of the stock is currently owned by 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.