Norges Bank acquired a new stake in Community Health Systems, Inc. (NYSE:CYH - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 354,100 shares of the company's stock, valued at approximately $1,059,000. Norges Bank owned 0.25% of Community Health Systems at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. Assenagon Asset Management S.A. increased its stake in Community Health Systems by 157.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,166,890 shares of the company's stock valued at $12,459,000 after purchasing an additional 2,550,678 shares during the period. Barclays PLC increased its position in Community Health Systems by 1,278.2% in the 3rd quarter. Barclays PLC now owns 707,805 shares of the company's stock valued at $4,296,000 after acquiring an additional 656,447 shares during the period. Rhumbline Advisers lifted its position in Community Health Systems by 2.4% during the 4th quarter. Rhumbline Advisers now owns 201,436 shares of the company's stock worth $602,000 after acquiring an additional 4,654 shares during the period. Vanguard Group Inc. grew its stake in shares of Community Health Systems by 12.3% in the 4th quarter. Vanguard Group Inc. now owns 11,200,657 shares of the company's stock valued at $33,490,000 after purchasing an additional 1,229,039 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Community Health Systems by 19.1% during the fourth quarter. New York State Common Retirement Fund now owns 1,735,544 shares of the company's stock worth $5,189,000 after purchasing an additional 277,827 shares during the last quarter. 84.99% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have commented on CYH shares. Barclays cut their price objective on shares of Community Health Systems from $5.00 to $4.00 and set an "equal weight" rating for the company in a research report on Thursday, February 20th. UBS Group lowered their price objective on Community Health Systems from $4.80 to $4.10 and set a "neutral" rating on the stock in a report on Thursday, February 20th. Guggenheim began coverage on Community Health Systems in a research note on Wednesday, April 9th. They set a "neutral" rating for the company. Wells Fargo & Company dropped their price objective on Community Health Systems from $2.50 to $2.00 and set an "underweight" rating on the stock in a report on Monday, March 10th. Finally, StockNews.com upgraded shares of Community Health Systems from a "sell" rating to a "hold" rating in a research report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $4.02.
Check Out Our Latest Stock Analysis on Community Health Systems
Community Health Systems Stock Performance
NYSE:CYH traded down $0.09 during mid-day trading on Tuesday, hitting $2.50. 1,743,985 shares of the company's stock traded hands, compared to its average volume of 2,092,637. Community Health Systems, Inc. has a 1 year low of $2.24 and a 1 year high of $6.29. The company has a market cap of $350.06 million, a PE ratio of -0.64 and a beta of 1.72. The firm's 50 day simple moving average is $2.95 and its 200 day simple moving average is $3.58.
Community Health Systems (NYSE:CYH - Get Free Report) last posted its 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 company had revenue of $3.27 billion during the quarter, compared to analysts' expectations of $3.14 billion. On average, research analysts expect that Community Health Systems, Inc. will post -0.29 earnings per share for the current fiscal year.
Community Health Systems Profile
(
Free Report)
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.
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