Community Health Systems (NYSE:CYH) Shares Up 5.6% – Still a Buy?

Community Health Systems, Inc. (NYSE:CYH)’s share price shot up 5.6% on Wednesday . The stock traded as high as $3.78 and last traded at $3.77. 84,541 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 1,806,226 shares. The stock had previously closed at $3.57.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $6.00 target price on shares of Community Health Systems in a research report on Monday, August 12th. Wells Fargo & Company downgraded Community Health Systems from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $5.00 to $2.50 in a research report on Monday. Barclays boosted 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 report on Thursday, October 24th. UBS Group lifted their price objective on shares of Community Health Systems from $4.70 to $5.10 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. Finally, Truist Financial reduced their price target on shares of Community Health Systems from $5.50 to $5.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Community Health Systems has an average rating of “Hold” and an average price target of $4.77.

Community Health Systems Stock Performance

The firm has a market cap of $484.93 million, a price-to-earnings ratio of -1.15 and a beta of 1.60. The business’s 50-day moving average is $4.94 and its 200-day moving average is $4.51.

Community Health Systems (NYSE:CYH) last issued its earnings results 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 analyst estimates of $3.08 billion. The business’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.33) EPS. Equities research analysts expect that Community Health Systems, Inc. will post -0.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Community Health Systems

A number of hedge funds have recently modified their holdings of the stock. nVerses Capital LLC purchased a new stake in Community Health Systems in the second quarter worth approximately $25,000. DekaBank Deutsche Girozentrale bought a new position in Community Health Systems during the second quarter valued at approximately $33,000. Signaturefd LLC purchased a new stake in Community Health Systems during the third quarter valued at approximately $33,000. Canada Pension Plan Investment Board bought a new position in shares of Community Health Systems in the second quarter worth approximately $45,000. Finally, CWM LLC boosted its stake in Community Health Systems by 32.1% during the third quarter. CWM LLC now owns 12,191 shares of the company’s stock valued at $74,000 after buying an additional 2,961 shares during the last quarter. 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.