Community Health Systems, Inc. (NYSE:CYH) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its position in shares of Community Health Systems, Inc. (NYSE:CYH) by 157.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,166,890 shares of the company’s stock after buying an additional 2,550,678 shares during the period. Assenagon Asset Management S.A. owned 3.00% of Community Health Systems worth $12,459,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CYH. Signaturefd LLC acquired a new position in shares of Community Health Systems during the 3rd quarter valued at about $33,000. DekaBank Deutsche Girozentrale acquired a new position in Community Health Systems during the second quarter worth approximately $33,000. CWM LLC raised its stake in Community Health Systems by 32.1% during the third quarter. CWM LLC now owns 12,191 shares of the company’s stock worth $74,000 after purchasing an additional 2,961 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Community Health Systems during the 2nd quarter valued at $45,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Community Health Systems during the 3rd quarter worth $94,000. 84.99% of the stock is owned by hedge funds and other institutional investors.

Community Health Systems Price Performance

NYSE:CYH opened at $3.05 on Friday. The firm has a 50-day moving average of $3.37 and a two-hundred day moving average of $4.41. The stock has a market cap of $423.10 million, a P/E ratio of -1.01 and a beta of 1.59. Community Health Systems, Inc. has a 1-year low of $2.51 and a 1-year high of $6.29.

Community Health Systems (NYSE:CYH) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.14). The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the company earned ($0.33) earnings per share. The business’s revenue was up .1% compared to the same quarter last year. As a group, equities analysts expect that Community Health Systems, Inc. will post -0.56 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on CYH. Wells Fargo & Company downgraded Community Health Systems from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $5.00 to $2.50 in a research report on Monday, November 25th. Raymond James lowered shares of Community Health Systems from a “market perform” rating to an “underperform” rating in a report on Friday, November 22nd. Truist Financial decreased their price objective on shares of Community Health Systems from $5.00 to $3.50 and set a “hold” rating for the company in a research note on Monday, January 6th. Barclays raised their target price on shares of Community Health Systems from $3.00 to $5.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Finally, StockNews.com downgraded Community Health Systems from a “hold” rating to a “sell” rating in a report on Monday, November 25th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $4.52.

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.