Community Health Systems (NYSE:CYH) Stock Price Down 8.3% – What’s Next?

Community Health Systems, Inc. (NYSE:CYH) shares traded down 8.3% during mid-day trading on Monday . The company traded as low as $3.30 and last traded at $3.59. 2,040,428 shares changed hands during trading, a decline of 13% from the average session volume of 2,342,061 shares. The stock had previously closed at $3.91.

Wall Street Analyst Weigh In

CYH has been the topic of several research analyst reports. Barclays lowered their target price on shares of Community Health Systems from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, February 20th. Wells Fargo & Company reissued an “underweight” rating and set a $3.50 price objective (up previously from $2.00) on shares of Community Health Systems in a report on Thursday, May 29th. Truist Financial reduced their target price on Community Health Systems from $4.00 to $3.00 and set a “hold” rating on the stock in a report on Friday, April 11th. Wall Street Zen raised Community Health Systems from a “sell” rating to a “hold” rating in a research note on Thursday, February 20th. Finally, Guggenheim started coverage on Community Health Systems in a research note on Wednesday, April 9th. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Community Health Systems has an average rating of “Hold” and an average target price of $4.17.

Community Health Systems Price Performance

The stock has a market cap of $487.56 million, a price-to-earnings ratio of -0.89 and a beta of 2.12. The company’s fifty day moving average price is $3.16 and its 200-day moving average price is $3.17.

Community Health Systems (NYSE:CYH) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.07. The business had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter last year, the firm earned ($0.14) earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. On average, sell-side analysts forecast that Community Health Systems, Inc. will post -0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Community Health Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position in shares of Community Health Systems by 250.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,023 shares of the company’s stock worth $27,000 after buying an additional 6,445 shares in the last quarter. R Squared Ltd boosted its position in Community Health Systems by 71.6% during the first quarter. R Squared Ltd now owns 10,950 shares of the company’s stock worth $30,000 after acquiring an additional 4,570 shares during the last quarter. Two Sigma Securities LLC purchased a new position in Community Health Systems during the fourth quarter worth approximately $33,000. Cibc World Markets Corp acquired a new position in shares of Community Health Systems during the 4th quarter valued at $35,000. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Community Health Systems in the first quarter valued at $36,000. Hedge funds and other institutional investors own 84.99% of the company’s stock.

About Community Health Systems

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.