Community Health Systems, Inc. (NYSE:CYH) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in shares of Community Health Systems, Inc. (NYSE:CYH) by 35.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 377,160 shares of the company’s stock after selling 208,988 shares during the quarter. Bank of New York Mellon Corp owned 0.27% of Community Health Systems worth $1,128,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CYH. Franklin Resources Inc. grew its holdings in Community Health Systems by 4.1% during the 3rd 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. Rhumbline Advisers raised its stake in Community Health Systems by 2.4% during the fourth quarter. Rhumbline Advisers now owns 201,436 shares of the company’s stock valued at $602,000 after buying an additional 4,654 shares in the last quarter. Apollon Wealth Management LLC acquired a new position in shares of Community Health Systems in the 4th quarter worth approximately $60,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of Community Health Systems by 93.1% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 49,580 shares of the company’s stock valued at $148,000 after acquiring an additional 23,902 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Community Health Systems during the 3rd quarter valued at approximately $207,000. Institutional investors and hedge funds own 84.99% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. StockNews.com raised shares of Community Health Systems from a “sell” rating to a “hold” rating in a report on Thursday, February 20th. Wells Fargo & Company cut their target price on Community Health Systems from $2.50 to $2.00 and set an “underweight” rating on the stock in a research note on Monday, March 10th. Truist Financial cut their price objective on shares of Community Health Systems from $5.00 to $3.50 and set a “hold” rating on the stock in a research note on Monday, January 6th. Barclays lowered their price objective on shares of Community Health Systems from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 20th. Finally, UBS Group decreased their price target on Community Health Systems from $4.80 to $4.10 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $4.10.

Community Health Systems Trading Up 6.7 %

CYH stock opened at $2.78 on Tuesday. Community Health Systems, Inc. has a one year low of $2.53 and a one year high of $6.29. The firm has a 50-day moving average of $3.16 and a two-hundred day moving average of $3.94. The firm has a market capitalization of $389.59 million, a PE ratio of -0.71 and a beta of 1.81.

Community Health Systems (NYSE:CYH) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.51). The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.14 billion. On average, equities research analysts anticipate that Community Health Systems, Inc. will post -0.29 earnings per share for the current year.

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.