Community Health Systems, Inc. (NYSE:CYH) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in shares of Community Health Systems, Inc. (NYSE:CYH - Free Report) by 35.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 377,160 shares of the company's stock after selling 208,988 shares during the period. Bank of New York Mellon Corp owned about 0.27% of Community Health Systems worth $1,128,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Apollon Wealth Management LLC purchased a new position in Community Health Systems during the fourth quarter valued at approximately $60,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of Community Health Systems by 93.1% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 49,580 shares of the company's stock valued at $148,000 after acquiring an additional 23,902 shares during the period. SG Americas Securities LLC lifted its stake in shares of Community Health Systems by 166.7% during the 4th quarter. SG Americas Securities LLC now owns 59,529 shares of the company's stock worth $178,000 after purchasing an additional 37,211 shares during the last quarter. Intech Investment Management LLC purchased a new position in Community Health Systems in the third quarter valued at about $207,000. Finally, Franklin Resources Inc. raised its holdings in Community Health Systems by 4.1% in the third quarter. Franklin Resources Inc. now owns 75,520 shares of the company's stock worth $422,000 after purchasing an additional 2,989 shares in the last quarter. Institutional investors own 84.99% of the company's stock.

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Community Health Systems Price Performance

Community Health Systems stock traded down $0.09 during trading hours on Friday, hitting $2.70. 1,825,607 shares of the stock traded hands, compared to its average volume of 2,039,493. Community Health Systems, Inc. has a 1 year low of $2.53 and a 1 year high of $6.29. The stock has a market capitalization of $378.36 million, a price-to-earnings ratio of -0.69 and a beta of 1.81. The firm's 50 day moving average price is $3.15 and its 200-day moving average price is $3.91.

Community Health Systems (NYSE:CYH - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.51). The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.14 billion. Research analysts forecast that Community Health Systems, Inc. will post -0.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CYH. StockNews.com upgraded shares of Community Health Systems from a "sell" rating to a "hold" rating in a report on Thursday, February 20th. UBS Group cut their price target on shares of Community Health Systems from $4.80 to $4.10 and set a "neutral" rating on the stock in a report on Thursday, February 20th. Barclays decreased their price objective on Community Health Systems from $5.00 to $4.00 and set an "equal weight" rating for the company in a report on Thursday, February 20th. Truist Financial dropped their target price on Community Health Systems from $5.00 to $3.50 and set a "hold" rating on the stock in a research note on Monday, January 6th. Finally, Wells Fargo & Company decreased their price target on Community Health Systems from $2.50 to $2.00 and set an "underweight" rating for the company in a research note on Monday, March 10th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Community Health Systems currently has an average rating of "Hold" and a consensus price target of $4.10.

Community Health Systems 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.