Community Health Systems (NYSE:CYH) Shares Up 5.3% - Here's What Happened

Shares of Community Health Systems, Inc. (NYSE:CYH - Get Free Report) traded up 5.3% during mid-day trading on Monday . The company traded as high as $3.71 and last traded at $3.70. 2,635,038 shares traded hands during trading, an increase of 9% from the average session volume of 2,427,034 shares. The stock had previously closed at $3.51.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Truist Financial reduced their price target on Community Health Systems from $5.00 to $3.50 and set a "hold" rating for the company in a research report on Monday, January 6th. Wells Fargo & Company lowered 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 report on Monday, November 25th. StockNews.com upgraded Community Health Systems from a "sell" rating to a "hold" rating in a report on Thursday, February 20th. UBS Group cut their price objective on Community Health Systems from $4.80 to $4.10 and set a "neutral" rating for the company in a report on Thursday, February 20th. Finally, Barclays cut 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. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $4.18.

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Community Health Systems Trading Down 2.9 %

The stock has a fifty day moving average price of $3.25 and a 200-day moving average price of $4.25. The firm has a market capitalization of $491.09 million, a price-to-earnings ratio of -0.91 and a beta of 1.63.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. lifted its holdings in Community Health Systems by 4.1% during the third quarter. Franklin Resources Inc. now owns 75,520 shares of the company's stock worth $422,000 after acquiring an additional 2,989 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Community Health Systems by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,783 shares of the company's stock worth $215,000 after acquiring an additional 3,124 shares in the last quarter. Rhumbline Advisers lifted its holdings in Community Health Systems by 2.4% during the fourth quarter. Rhumbline Advisers now owns 201,436 shares of the company's stock worth $602,000 after acquiring an additional 4,654 shares in the last quarter. Signaturefd LLC bought a new position in Community Health Systems during the third quarter worth about $33,000. Finally, State of Wyoming lifted its holdings in Community Health Systems by 8.9% during the fourth quarter. State of Wyoming now owns 75,698 shares of the company's stock worth $226,000 after acquiring an additional 6,207 shares in the last quarter. 84.99% of the stock is currently owned by institutional investors.

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.