Community Health Systems (NYSE:CYH) Shares Gap Down – Time to Sell?

Community Health Systems, Inc. (NYSE:CYH) shares gapped down prior to trading on Friday . The stock had previously closed at $3.75, but opened at $3.62. Community Health Systems shares last traded at $3.60, with a volume of 821,986 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Truist Financial reduced their target price on shares of Community Health Systems from $5.50 to $5.00 and set a “hold” rating for the company in a research report on Friday, October 25th. StockNews.com upgraded shares of Community Health Systems from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $6.00 price objective on shares of Community Health Systems in a research note on Monday, August 12th. Barclays increased their target price on Community Health Systems from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Finally, Wells Fargo & Company lifted their price target on Community Health Systems from $3.50 to $5.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $5.18.

Community Health Systems Stock Down 2.7 %

The stock has a 50-day moving average of $5.02 and a 200-day moving average of $4.50. The company has a market cap of $507.17 million, a PE ratio of -1.21 and a beta of 1.60.

Community Health Systems (NYSE:CYH) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.14). The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.08 billion. The company’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.33) EPS. Research analysts expect that Community Health Systems, Inc. will post -0.52 EPS for the current year.

Institutional Trading of Community Health Systems

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Community Health Systems by 0.4% during the first quarter. Vanguard Group Inc. now owns 8,124,617 shares of the company’s stock worth $28,436,000 after purchasing an additional 28,669 shares during the last quarter. Quadrature Capital Ltd boosted its stake in Community Health Systems by 236.2% in the first quarter. Quadrature Capital Ltd now owns 105,777 shares of the company’s stock worth $370,000 after buying an additional 74,319 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Community Health Systems by 7.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 96,027 shares of the company’s stock worth $337,000 after acquiring an additional 6,852 shares in the last quarter. Apollo Management Holdings L.P. bought a new stake in shares of Community Health Systems in the 1st quarter worth approximately $5,149,000. Finally, SG Americas Securities LLC boosted its stake in shares of Community Health Systems by 384.7% in the 2nd quarter. SG Americas Securities LLC now owns 212,852 shares of the company’s stock valued at $715,000 after purchasing an additional 168,941 shares in the last quarter. Hedge funds and other institutional investors own 84.99% of the company’s stock.

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.