Community Health Systems, Inc. (NYSE:CYH) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its stake in Community Health Systems, Inc. (NYSE:CYH - Free Report) by 13.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,574,190 shares of the company's stock after selling 253,806 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.13% of Community Health Systems worth $9,555,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its holdings in shares of Community Health Systems by 7.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 96,027 shares of the company's stock worth $337,000 after purchasing an additional 6,852 shares during the period. SG Americas Securities LLC increased its position in shares of Community Health Systems by 384.7% in the second quarter. SG Americas Securities LLC now owns 212,852 shares of the company's stock worth $715,000 after acquiring an additional 168,941 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Community Health Systems in the 2nd quarter valued at $5,121,000. Bank of New York Mellon Corp boosted its position in Community Health Systems by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 687,804 shares of the company's stock worth $2,311,000 after purchasing an additional 20,150 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in Community Health Systems by 412.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 24,702 shares of the company's stock valued at $83,000 after purchasing an additional 19,886 shares in the last quarter. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company downgraded Community Health Systems from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $5.00 to $2.50 in a research report on Monday, November 25th. StockNews.com cut Community Health Systems from a "hold" rating to a "sell" rating in a report on Monday, November 25th. Raymond James lowered shares of Community Health Systems from a "market perform" rating to an "underperform" rating in a research note on Friday, November 22nd. Truist Financial lowered 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 report on Friday, October 25th. Finally, Barclays boosted their price objective 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. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $4.77.

Community Health Systems Trading Up 3.4 %

Community Health Systems stock traded up $0.12 during midday trading on Tuesday, hitting $3.63. The stock had a trading volume of 3,893,925 shares, compared to its average volume of 1,857,092. The business has a fifty day moving average price of $4.48 and a 200 day moving average price of $4.50. Community Health Systems, Inc. has a 12 month low of $2.31 and a 12 month high of $6.29. The stock has a market cap of $504.39 million, a P/E ratio of -1.16 and a beta of 1.55.

Community Health Systems (NYSE:CYH - Get Free Report) last posted its quarterly 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 during the quarter, compared to analyst estimates of $3.08 billion. The company's quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.33) earnings per share. On average, equities analysts anticipate that Community Health Systems, Inc. will post -0.55 EPS for the current fiscal year.

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.