Assenagon Asset Management S.A. Invests $5.12 Million in Community Health Systems, Inc. (NYSE:CYH)

Assenagon Asset Management S.A. purchased a new stake in Community Health Systems, Inc. (NYSE:CYH - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,524,227 shares of the company's stock, valued at approximately $5,121,000. Assenagon Asset Management S.A. owned approximately 1.10% of Community Health Systems as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CYH. Raymond James & Associates raised its holdings in shares of Community Health Systems by 3.7% in the fourth quarter. Raymond James & Associates now owns 132,423 shares of the company's stock valued at $414,000 after purchasing an additional 4,680 shares during the last quarter. Panagora Asset Management Inc. lifted its position in shares of Community Health Systems by 0.9% during the 4th quarter. Panagora Asset Management Inc. now owns 730,256 shares of the company's stock worth $2,286,000 after buying an additional 6,333 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position 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 buying an additional 6,852 shares in the last quarter. Eagle Asset Management Inc. bought a new position in shares of Community Health Systems during the 4th quarter worth approximately $40,000. Finally, Red Door Wealth Management LLC lifted its position in shares of Community Health Systems by 126.6% during the 1st quarter. Red Door Wealth Management LLC now owns 26,060 shares of the company's stock worth $91,000 after buying an additional 14,560 shares in the last quarter. Institutional investors and hedge funds own 84.99% of the company's stock.

Analyst Ratings Changes

CYH has been the topic of several recent analyst reports. Oppenheimer lifted their target price on shares of Community Health Systems from $4.50 to $5.00 and gave the stock an "outperform" rating in a research report on Thursday, July 25th. Truist Financial lifted their price target on shares of Community Health Systems from $3.75 to $4.25 and gave the stock a "hold" rating in a report on Monday, July 15th. Wells Fargo & Company lifted their price target on shares of Community Health Systems from $3.50 to $5.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 30th. UBS Group lifted their price target on shares of Community Health Systems from $4.70 to $5.10 and gave the stock a "neutral" rating in a report on Wednesday, August 14th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $6.00 price target on shares of Community Health Systems in a report on Monday, August 12th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Community Health Systems presently has an average rating of "Hold" and an average target price of $4.73.

Community Health Systems Trading Down 0.6 %

Shares of CYH traded down $0.03 during mid-day trading on Monday, reaching $4.98. 1,138,564 shares of the stock traded hands, compared to its average volume of 1,884,156. The firm has a fifty day moving average price of $4.04 and a 200 day moving average price of $3.58. The company has a market cap of $692.05 million, a price-to-earnings ratio of -5.24 and a beta of 1.52. Community Health Systems, Inc. has a 1 year low of $2.01 and a 1 year high of $5.48.

Community Health Systems (NYSE:CYH - Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The company reported ($0.17) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.05). The firm had revenue of $3.14 billion for the quarter, compared to analysts' expectations of $3.10 billion. Community Health Systems's quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.22) EPS. On average, sell-side analysts anticipate that Community Health Systems, Inc. will post -0.41 EPS for the current year.

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.