Community Health Systems Inc. (CYH) Sees Large Volume Increase
Shares of Community Health Systems Inc. (NYSE:CYH) saw unusually-high trading volume on Tuesday . Approximately 5,089,398 shares traded hands during mid-day trading, a decline of 5% from the previous session’s volume of 5,333,121 shares.The stock last traded at $10.80 and had previously closed at $11.09.
CYH has been the subject of several research analyst reports. Vetr lowered Community Health Systems from a “strong-buy” rating to a “buy” rating and set a $12.50 price objective for the company. in a research report on Wednesday, September 7th. Barclays PLC restated a “hold” rating and issued a $15.00 target price on shares of Community Health Systems in a research note on Friday, August 19th. Raymond James Financial Inc. downgraded Community Health Systems from a “market perform” rating to an “underperform” rating in a research note on Wednesday, June 1st. Morgan Stanley downgraded Community Health Systems from an “equal weight” rating to an “underweight” rating and set a $15.00 target price for the company. in a research note on Tuesday, May 24th. Finally, Credit Suisse Group AG initiated coverage on Community Health Systems in a research note on Friday, July 29th. They issued a “neutral” rating and a $14.00 target price for the company. Six research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $16.32.
The firm has a 50-day moving average price of $11.00 and a 200 day moving average price of $13.33. The firm’s market cap is $1.19 billion.
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Community Health Systems (NYSE:CYH) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.47. Community Health Systems had a positive return on equity of 2.10% and a negative net margin of 7.55%. The company earned $4.59 billion during the quarter, compared to the consensus estimate of $4.53 billion. Community Health Systems’s quarterly revenue was down 6.0% compared to the same quarter last year. Analysts forecast that Community Health Systems Inc. will post $1.34 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in Community Health Systems during the first quarter worth about $157,109,000. SHANDA ASSET MANAGEMENT HOLDINGS Ltd bought a new position in Community Health Systems during the second quarter worth about $59,988,000. Kohlberg Kravis Roberts & Co. L.P. bought a new position in Community Health Systems during the second quarter worth about $41,896,000. JPMorgan Chase & Co. increased its position in Community Health Systems by 417.6% in the second quarter. JPMorgan Chase & Co. now owns 2,404,267 shares of the company’s stock worth $28,971,000 after buying an additional 1,939,765 shares during the last quarter. Finally, BlackRock Fund Advisors increased its position in Community Health Systems by 41.7% in the second quarter. BlackRock Fund Advisors now owns 6,020,839 shares of the company’s stock worth $72,551,000 after buying an additional 1,771,171 shares during the last quarter. 96.57% of the stock is owned by institutional investors.
About Community Health Systems
Community Health Systems, Inc is an operator of general acute care hospitals in communities. The Company provides healthcare services through the hospitals that it owns and operates and affiliated businesses in non-urban and selected urban markets throughout the United States. The Company operates through two segments: hospital operations and home care agencies operations.
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