Assenagon Asset Management S.A. Increases Stake in Community Health Systems, Inc. $CYH

Assenagon Asset Management S.A. boosted its stake in shares of Community Health Systems, Inc. (NYSE:CYH) by 53.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,110,655 shares of the company’s stock after purchasing an additional 388,116 shares during the period. Assenagon Asset Management S.A.’s holdings in Community Health Systems were worth $3,465,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Community Health Systems by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,987 shares of the company’s stock valued at $202,000 after buying an additional 3,204 shares during the last quarter. Raymond James Financial Inc. lifted its position in Community Health Systems by 16.1% during the 3rd quarter. Raymond James Financial Inc. now owns 37,582 shares of the company’s stock worth $121,000 after acquiring an additional 5,202 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Community Health Systems by 67.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 17,269 shares of the company’s stock valued at $54,000 after purchasing an additional 6,971 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Community Health Systems by 3.8% in the second quarter. Rhumbline Advisers now owns 206,497 shares of the company’s stock valued at $702,000 after purchasing an additional 7,549 shares during the period. Finally, Red Door Wealth Management LLC raised its stake in shares of Community Health Systems by 30.0% in the third quarter. Red Door Wealth Management LLC now owns 39,000 shares of the company’s stock worth $125,000 after purchasing an additional 9,000 shares during the last quarter. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Community Health Systems Price Performance

NYSE:CYH opened at $2.87 on Monday. The company has a 50 day moving average price of $3.25 and a 200-day moving average price of $3.29. Community Health Systems, Inc. has a 1-year low of $2.24 and a 1-year high of $4.47. The firm has a market cap of $397.16 million, a price-to-earnings ratio of 0.76 and a beta of 2.10.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CYH. Truist Financial set a $4.50 price target on shares of Community Health Systems in a report on Monday, January 5th. Weiss Ratings downgraded shares of Community Health Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, March 19th. UBS Group raised their target price on shares of Community Health Systems from $3.60 to $3.70 and gave the stock a “neutral” rating in a report on Friday, February 20th. Zacks Research upgraded shares of Community Health Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Finally, Wells Fargo & Company lowered their price target on shares of Community Health Systems from $3.00 to $2.00 and set an “underweight” rating on the stock in a report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $3.62.

About Community Health Systems

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.