Community Health Systems (NYSE:CYH) Shares Gap Down – Time to Sell?

Community Health Systems, Inc. (NYSE:CYH)’s share price gapped down before the market opened on Friday . The stock had previously closed at $3.75, but opened at $3.62. Community Health Systems shares last traded at $3.60, with a volume of 821,986 shares traded.

Wall Street Analyst Weigh In

CYH has been the subject of several recent analyst reports. Wells Fargo & Company increased their target price on Community Health Systems from $3.50 to $5.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. UBS Group upped their target price on shares of Community Health Systems from $4.70 to $5.10 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. Truist Financial dropped their price objective on shares of Community Health Systems from $5.50 to $5.00 and set a “hold” rating on the stock in a report on Friday, October 25th. Oppenheimer lifted their price target on shares of Community Health Systems from $4.50 to $5.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, StockNews.com upgraded shares of Community Health Systems from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.18.

Community Health Systems Price Performance

The firm has a market capitalization of $507.16 million, a price-to-earnings ratio of -1.19 and a beta of 1.60. The business has a 50 day moving average of $5.06 and a 200 day moving average of $4.49.

Community Health Systems (NYSE:CYH) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.14). The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.08 billion. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the business earned ($0.33) earnings per share. As a group, equities analysts predict that Community Health Systems, Inc. will post -0.52 EPS for the current year.

Institutional Trading of Community Health Systems

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its holdings in Community Health Systems by 87.0% during the 1st quarter. BNP Paribas Financial Markets now owns 61,468 shares of the company’s stock worth $215,000 after purchasing an additional 28,594 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Community Health Systems by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 8,124,617 shares of the company’s stock worth $28,436,000 after acquiring an additional 28,669 shares in the last quarter. Quadrature Capital Ltd increased its position in Community Health Systems by 236.2% during the first quarter. Quadrature Capital Ltd now owns 105,777 shares of the company’s stock valued at $370,000 after acquiring an additional 74,319 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Community Health Systems by 7.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 96,027 shares of the company’s stock worth $337,000 after purchasing an additional 6,852 shares in the last quarter. Finally, Apollo Management Holdings L.P. bought a new stake in Community Health Systems during the first quarter valued at about $5,149,000. 84.99% of the stock is owned by hedge funds and other 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.