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

Charles Schwab Investment Management Inc. lowered its holdings in shares of Community Health Systems, Inc. (NYSE:CYH - Free Report) by 17.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,300,336 shares of the company's stock after selling 273,854 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.94% of Community Health Systems worth $3,888,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in CYH. Franklin Resources Inc. raised its position in Community Health Systems by 4.1% during the third quarter. Franklin Resources Inc. now owns 75,520 shares of the company's stock valued at $422,000 after purchasing an additional 2,989 shares during the period. Rhumbline Advisers lifted its position in Community Health Systems by 2.4% in the fourth quarter. Rhumbline Advisers now owns 201,436 shares of the company's stock worth $602,000 after buying an additional 4,654 shares during the last quarter. Apollon Wealth Management LLC bought a new position in Community Health Systems during the fourth quarter valued at $60,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Community Health Systems by 93.1% in the fourth 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. Finally, Intech Investment Management LLC bought a new stake in shares of Community Health Systems in the 3rd quarter worth about $207,000. 84.99% of the stock is owned by hedge funds and other institutional investors.

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Community Health Systems Price Performance

NYSE CYH traded down $0.09 during trading on Friday, reaching $2.70. 1,825,607 shares of the company's stock traded hands, compared to its average volume of 2,042,112. The company's 50 day simple moving average is $3.15 and its two-hundred day simple moving average is $3.88. Community Health Systems, Inc. has a 12-month low of $2.53 and a 12-month high of $6.29. The firm has a market cap of $378.36 million, a price-to-earnings ratio of -0.69 and a beta of 1.81.

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays reduced their price objective on shares of Community Health Systems from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 20th. 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. Truist Financial reduced 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. StockNews.com raised shares of Community Health Systems from a "sell" rating to a "hold" rating in a research note on Thursday, February 20th. Finally, UBS Group reduced 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 research note on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Community Health Systems has an average rating of "Hold" and an average price target of $4.10.

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.