Assenagon Asset Management S.A. Sells 439,795 Shares of Community Health Systems, Inc. $CYH

Assenagon Asset Management S.A. trimmed its position in Community Health Systems, Inc. (NYSE:CYH) by 39.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 670,860 shares of the company’s stock after selling 439,795 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Community Health Systems were worth $1,972,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Royal Bank of Canada raised its holdings in shares of Community Health Systems by 601.9% during the 4th quarter. Royal Bank of Canada now owns 9,286 shares of the company’s stock worth $29,000 after buying an additional 7,963 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Community Health Systems during the 4th quarter valued at approximately $34,000. Wealthcare Advisory Partners LLC acquired a new position in Community Health Systems during the 4th quarter worth approximately $35,000. Valeo Financial Advisors LLC bought a new position in Community Health Systems in the 4th quarter valued at approximately $39,000. Finally, Quarry LP acquired a new stake in Community Health Systems in the third quarter valued at approximately $39,000. 84.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CYH. Wall Street Zen downgraded shares of Community Health Systems from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Weiss Ratings lowered Community Health Systems from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, April 24th. Truist Financial lowered their target price on Community Health Systems from $3.50 to $3.00 and set a “hold” rating for the company in a report on Thursday, April 23rd. Barclays cut their price target on Community Health Systems from $3.50 to $3.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 23rd. Finally, Zacks Research cut Community Health Systems from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Community Health Systems has an average rating of “Reduce” and an average target price of $3.28.

Community Health Systems Stock Up 6.1%

Shares of Community Health Systems stock opened at $3.54 on Thursday. The stock has a market cap of $499.56 million, a price-to-earnings ratio of 1.03 and a beta of 1.80. Community Health Systems, Inc. has a twelve month low of $2.38 and a twelve month high of $4.43. The company’s fifty day moving average is $2.92 and its 200 day moving average is $3.11.

Community Health Systems (NYSE:CYH) last announced its earnings results on Tuesday, April 21st. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.30). Community Health Systems had a negative return on equity of 7.62% and a net margin of 3.78%.The company had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the prior year, the business earned ($0.03) earnings per share. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. Community Health Systems has set its FY 2026 guidance at -0.600-0.000 EPS. As a group, equities analysts anticipate that Community Health Systems, Inc. will post -0.58 earnings per share for the current fiscal year.

Community Health Systems Company Profile

Community Health Systems, Inc (NYSE: CYH) is one of the largest publicly traded hospital operators in the United States. Headquartered in Franklin, Tennessee, the company owns, leases and manages general acute care hospitals and outpatient facilities, primarily in non-urban and mid-market communities. CHS is focused on delivering locally accessible healthcare services through its network of affiliated hospitals, clinics and post-acute providers.

The company’s core offerings include inpatient medical and surgical care, emergency services, critical care, diagnostic imaging and laboratory testing.