Community Health Systems (NYSE:CYH) Shares Down 4.7% – Time to Sell?

Community Health Systems, Inc. (NYSE:CYH) shares fell 4.7% during mid-day trading on Thursday . The stock traded as low as $3.64 and last traded at $3.65. 110,853 shares traded hands during trading, a decline of 94% from the average session volume of 1,800,270 shares. The stock had previously closed at $3.83.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CYH. Royal Bank of Canada reaffirmed an “outperform” rating and set a $6.00 target price on shares of Community Health Systems in a research note on Monday, August 12th. Barclays lifted their target price on shares of Community Health Systems from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Raymond James cut shares of Community Health Systems from a “market perform” rating to an “underperform” rating in a research note on Friday. Truist Financial lowered their target price on shares of Community Health Systems from $5.50 to $5.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Finally, UBS Group lifted their price target on Community Health Systems from $4.70 to $5.10 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.18.

Community Health Systems Trading Down 2.1 %

The stock has a market capitalization of $509.94 million, a PE ratio of -1.22 and a beta of 1.60. The firm’s fifty day moving average is $5.02 and its 200-day moving average is $4.49.

Community Health Systems (NYSE:CYH) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.14). The company had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.08 billion. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.33) EPS. As a group, equities analysts predict that Community Health Systems, Inc. will post -0.52 EPS for the current year.

Hedge Funds Weigh In On Community Health Systems

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC grew its position in Community Health Systems by 384.7% in the 2nd quarter. SG Americas Securities LLC now owns 212,852 shares of the company’s stock valued at $715,000 after acquiring an additional 168,941 shares in the last quarter. Los Angeles Capital Management LLC grew its position in Community Health Systems by 301.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 334,189 shares of the company’s stock valued at $2,029,000 after acquiring an additional 250,909 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Community Health Systems by 0.4% during the first quarter. Vanguard Group Inc. now owns 8,124,617 shares of the company’s stock worth $28,436,000 after buying an additional 28,669 shares in the last quarter. Hood River Capital Management LLC acquired a new position in shares of Community Health Systems during the second quarter worth about $789,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Community Health Systems during the second quarter worth about $871,000. 84.99% of the stock is owned by institutional investors and hedge funds.

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.