Community Health Systems (NYSE:CYH) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

Community Health Systems, Inc. (NYSE:CYH) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $3.17 and traded as high as $3.30. Community Health Systems shares last traded at $3.14, with a volume of 2,051,706 shares.

Analysts Set New Price Targets

Several research firms have issued reports on CYH. Truist Financial set a $4.50 price objective on shares of Community Health Systems in a report on Monday, January 5th. Wall Street Zen downgraded shares of Community Health Systems from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Community Health Systems in a report on Monday, December 29th. Wells Fargo & Company reduced their target price on Community Health Systems from $3.00 to $2.00 and set an “underweight” rating for the company in a report on Wednesday, January 7th. Finally, UBS Group lifted their price target on Community Health Systems from $3.20 to $3.60 and gave the stock a “neutral” rating in a research note on Monday, October 27th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $3.60.

Community Health Systems Stock Performance

The firm has a market capitalization of $434.95 million, a PE ratio of 1.30 and a beta of 2.04. The stock’s 50 day simple moving average is $3.29 and its two-hundred day simple moving average is $3.17.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CYH. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Community Health Systems in the third quarter valued at about $32,000. CWM LLC grew its stake in shares of Community Health Systems by 133.1% in the 2nd quarter. CWM LLC now owns 10,974 shares of the company’s stock valued at $37,000 after buying an additional 6,266 shares during the period. Wealthcare Advisory Partners LLC purchased a new stake in shares of Community Health Systems during the 4th quarter valued at approximately $35,000. Savvy Advisors Inc. acquired a new position in Community Health Systems in the second quarter valued at approximately $40,000. Finally, Quarry LP purchased a new position in Community Health Systems in the third quarter worth approximately $39,000. Institutional investors and hedge funds own 84.99% of the company’s stock.

Community Health Systems Company Profile

Community Health Systems, Inc (NYSE: CYH) is one of the largest publicly traded hospital operators in the United States. Headquartered in Franklin, Tennessee, the company owns, leases and manages general acute care hospitals and outpatient facilities, primarily in non-urban and mid-market communities. CHS is focused on delivering locally accessible healthcare services through its network of affiliated hospitals, clinics and post-acute providers.

The company’s core offerings include inpatient medical and surgical care, emergency services, critical care, diagnostic imaging and laboratory testing.