Community Health Systems (NYSE:CYH) Shares Down 6.3% – Time to Sell?

Community Health Systems, Inc. (NYSE:CYH) shares fell 6.3% during trading on Wednesday . The stock traded as low as $3.60 and last traded at $3.68. 313,773 shares were traded during trading, a decline of 87% from the average session volume of 2,458,883 shares. The stock had previously closed at $3.92.

Analysts Set New Price Targets

CYH has been the subject of a number of recent research reports. Truist Financial decreased their price objective on shares of Community Health Systems from $5.00 to $3.50 and set a “hold” rating for the company in a report on Monday, January 6th. Barclays reduced their price objective on shares of Community Health Systems from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Thursday, February 20th. Raymond James lowered shares of Community Health Systems from a “market perform” rating to an “underperform” rating in a research note on Friday, November 22nd. UBS Group decreased their price target on shares of Community Health Systems from $4.80 to $4.10 and set a “neutral” rating for the company in a report on Thursday, February 20th. Finally, Wells Fargo & Company lowered Community Health Systems from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $5.00 to $2.50 in a research note on Monday, November 25th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Community Health Systems currently has an average rating of “Hold” and a consensus target price of $4.18.

Community Health Systems Stock Performance

The firm has a market cap of $493.87 million, a price-to-earnings ratio of -0.91 and a beta of 1.63. The company’s 50-day moving average is $3.23 and its 200-day moving average is $4.25.

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

Hedge Funds Weigh In On Community Health Systems

Several institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its position in shares of Community Health Systems by 250.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,023 shares of the company’s stock worth $27,000 after purchasing an additional 6,445 shares during the period. Signaturefd LLC acquired a new stake in Community Health Systems during the 3rd quarter worth approximately $33,000. Two Sigma Securities LLC acquired a new position in shares of Community Health Systems in the fourth quarter valued at approximately $33,000. Cibc World Markets Corp acquired a new stake in shares of Community Health Systems during the fourth quarter worth $35,000. Finally, Virtu Financial LLC acquired a new position in Community Health Systems in the 4th quarter worth $38,000. Institutional investors and hedge funds 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.