Community Health Systems (NYSE:CYH) Sets New 1-Year High at $5.98

Community Health Systems, Inc. (NYSE:CYH)’s stock price reached a new 52-week high on Monday . The stock traded as high as $5.98 and last traded at $5.98, with a volume of 646824 shares traded. The stock had previously closed at $5.90.

Analysts Set New Price Targets

Several research firms have recently weighed in on CYH. UBS Group raised their price target on shares of Community Health Systems from $4.70 to $5.10 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $6.00 price target on shares of Community Health Systems in a research note on Monday, August 12th. Wells Fargo & Company raised 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 research note on Tuesday, July 30th. Truist Financial raised their price target on shares of Community Health Systems from $3.75 to $4.25 and gave the stock a “hold” rating in a research note on Monday, July 15th. Finally, Oppenheimer raised 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. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $4.73.

Community Health Systems Stock Up 0.2 %

The firm has a market capitalization of $821.29 million, a price-to-earnings ratio of -6.21 and a beta of 1.56. The business’s 50-day simple moving average is $5.04 and its two-hundred day simple moving average is $3.93.

Community Health Systems (NYSE:CYH) last announced its quarterly earnings data on Wednesday, July 24th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.05). The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.10 billion. The business’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. Sell-side analysts anticipate that Community Health Systems, Inc. will post -0.42 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp raised its stake in Community Health Systems by 6.8% in the second quarter. Mackenzie Financial Corp now owns 33,269 shares of the company’s stock valued at $112,000 after buying an additional 2,106 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Community Health Systems by 5.8% during the second quarter. The Manufacturers Life Insurance Company now owns 49,701 shares of the company’s stock worth $167,000 after purchasing an additional 2,739 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Community Health Systems by 7.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 96,027 shares of the company’s stock valued at $337,000 after purchasing an additional 6,852 shares in the last quarter. nVerses Capital LLC acquired a new stake in Community Health Systems during the second quarter worth approximately $25,000. Finally, Lombard Odier Asset Management USA Corp lifted its position in shares of Community Health Systems by 8.8% during the 2nd quarter. Lombard Odier Asset Management USA Corp now owns 124,000 shares of the company’s stock worth $417,000 after buying an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.

About Community Health Systems

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.