Community Health Systems (NYSE:CYH) Stock Price Down 4.7% – Should You Sell?

Community Health Systems, Inc. (NYSE:CYH) fell 4.7% during trading on Thursday . The company traded as low as $3.64 and last traded at $3.65. 110,853 shares were traded during trading, a decline of 94% from the average session volume of 1,800,270 shares. The stock had previously closed at $3.83.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Truist Financial dropped their price target on shares of Community Health Systems from $5.50 to $5.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Wells Fargo & Company increased their price objective 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. UBS Group boosted their price objective on Community Health Systems from $4.70 to $5.10 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. Oppenheimer boosted their price objective on shares of Community Health Systems from $4.50 to $5.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $6.00 price target on shares of Community Health Systems in a research note on Monday, August 12th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.18.

Community Health Systems Price Performance

The stock’s fifty day moving average price is $5.10 and its 200 day moving average price is $4.49. The stock has a market capitalization of $515.50 million, a P/E ratio of -1.17 and a beta of 1.60.

Community Health Systems (NYSE:CYH) last released its earnings results on Wednesday, October 23rd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate 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. Community Health Systems’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.33) earnings per share. On average, sell-side analysts expect that Community Health Systems, Inc. will post -0.52 earnings per share for the current year.

Hedge Funds Weigh In On Community Health Systems

A number of hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. acquired a new stake in Community Health Systems in the 2nd quarter valued at approximately $5,121,000. Apollo Management Holdings L.P. acquired a new stake in shares of Community Health Systems in the first quarter valued at $5,149,000. Bank of Montreal Can purchased a new stake in shares of Community Health Systems in the 2nd quarter valued at $3,692,000. Whitebox Advisors LLC boosted its holdings in Community Health Systems by 43.3% during the 2nd quarter. Whitebox Advisors LLC now owns 3,020,933 shares of the company’s stock valued at $10,150,000 after acquiring an additional 913,542 shares during the period. Finally, Barclays PLC grew its position in Community Health Systems by 1,278.2% in the 3rd quarter. Barclays PLC now owns 707,805 shares of the company’s stock valued at $4,296,000 after acquiring an additional 656,447 shares in the last quarter. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

About Community Health Systems

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.