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

Community Health Systems, Inc. (NYSE:CYH)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $3.75, but opened at $3.62. Community Health Systems shares last traded at $3.60, with a volume of 821,986 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CYH. Wells Fargo & Company increased their price target on shares of Community Health Systems from $3.50 to $5.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Raymond James downgraded shares of Community Health Systems from a “market perform” rating to an “underperform” rating in a research note on Friday. StockNews.com upgraded shares of Community Health Systems from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. UBS Group boosted 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $6.00 target price on shares of Community Health Systems in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $5.18.

Community Health Systems Stock Down 2.7 %

The company has a market cap of $507.16 million, a price-to-earnings ratio of -1.19 and a beta of 1.60. The company’s 50-day moving average is $5.06 and its 200 day moving average is $4.49.

Community Health Systems (NYSE:CYH) last released its earnings results on Wednesday, October 23rd. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.14). The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the previous year, the business posted ($0.33) EPS. Community Health Systems’s quarterly revenue was up .1% on a year-over-year basis. Analysts predict that Community Health Systems, Inc. will post -0.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Community Health Systems by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 8,124,617 shares of the company’s stock valued at $28,436,000 after buying an additional 28,669 shares during the last quarter. Whitebox Advisors LLC increased its position in Community Health Systems by 43.3% during the second quarter. Whitebox Advisors LLC now owns 3,020,933 shares of the company’s stock worth $10,150,000 after purchasing an additional 913,542 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Community Health Systems by 2.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,748,786 shares of the company’s stock valued at $5,875,000 after purchasing an additional 43,145 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Community Health Systems by 6.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,616,212 shares of the company’s stock worth $9,810,000 after buying an additional 91,985 shares during the last quarter. Finally, Apollo Management Holdings L.P. purchased a new position in shares of Community Health Systems in the 1st quarter worth $5,149,000. 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.