Community Health Systems (NYSE:CYH) Shares Gap Down to $5.18

Community Health Systems, Inc. (NYSE:CYH)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $5.18, but opened at $5.05. Community Health Systems shares last traded at $5.13, with a volume of 886,738 shares traded.

Wall Street Analysts Forecast Growth

CYH has been the subject of a number of analyst reports. Oppenheimer increased their price objective 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 raised their price target on shares of Community Health Systems from $3.50 to $5.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Truist Financial increased their target price on shares of Community Health Systems from $3.75 to $4.25 and gave the stock a “hold” rating in a report on Monday, July 15th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.65.

Community Health Systems Stock Performance

The firm has a market capitalization of $733.60 million, a PE ratio of -5.45 and a beta of 1.52. The stock’s 50-day simple moving average is $3.67 and its 200-day simple moving average is $3.45.

Community Health Systems (NYSE:CYH) last announced its quarterly earnings results on Wednesday, July 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.05). The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the prior year, the company earned ($0.22) EPS. Community Health Systems’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, analysts predict that Community Health Systems, Inc. will post -0.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC raised its holdings in Community Health Systems by 3.6% in the fourth quarter. SG Americas Securities LLC now owns 81,513 shares of the company’s stock worth $255,000 after purchasing an additional 2,866 shares in the last quarter. Raymond James & Associates increased its stake in shares of Community Health Systems by 3.7% in the 4th quarter. Raymond James & Associates now owns 132,423 shares of the company’s stock worth $414,000 after acquiring an additional 4,680 shares in the last quarter. Panagora Asset Management Inc. lifted its position in Community Health Systems by 0.9% during the 4th quarter. Panagora Asset Management Inc. now owns 730,256 shares of the company’s stock valued at $2,286,000 after acquiring an additional 6,333 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Community Health Systems by 7.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 96,027 shares of the company’s stock worth $337,000 after purchasing an additional 6,852 shares during the period. Finally, Eagle Asset Management Inc. bought a new position in shares of Community Health Systems during the fourth quarter valued at approximately $40,000. 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.