Community Health Systems (NYSE:CYH) Shares Gap Up to $5.10

Posted by Defense World Staff on Apr 23rd, 2023

Shares of Community Health Systems, Inc. (NYSE:CYH – Get Rating) gapped up prior to trading on Friday . The stock had previously closed at $5.10, but opened at $5.36. Community Health Systems shares last traded at $5.70, with a volume of 590,677 shares.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CYH. Credit Suisse Group increased their price objective on shares of Community Health Systems from $3.30 to $8.50 and gave the stock a “neutral” rating in a report on Friday, February 17th. Oppenheimer raised their target price on shares of Community Health Systems from $5.00 to $5.50 and gave the stock an “outperform” rating in a report on Thursday, January 19th. Truist Financial raised their target price on shares of Community Health Systems from $4.75 to $8.00 in a report on Friday, February 17th. Wells Fargo & Company increased their price target on shares of Community Health Systems from $3.00 to $4.50 and gave the stock an “equal weight” rating in a research report on Tuesday, January 3rd. Finally, StockNews.com initiated coverage on shares of Community Health Systems in a research report on Thursday, March 16th. They issued a “hold” rating for the company. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.14.

Community Health Systems Price Performance

The firm’s 50 day moving average price is $5.51 and its 200-day moving average price is $4.31. The firm has a market cap of $806.83 million, a price-to-earnings ratio of 17.88 and a beta of 1.65.

Community Health Systems (NYSE:CYH – Get Rating) last issued its earnings results on Thursday, February 16th. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $0.41 by $1.09. The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the firm posted $1.15 EPS. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. Analysts expect that Community Health Systems, Inc. will post -0.63 EPS for the current year.

Institutional Trading of Community Health Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Captrust Financial Advisors increased its stake in shares of Community Health Systems by 195.5% in the 1st quarter. Captrust Financial Advisors now owns 5,794 shares of the company’s stock valued at $69,000 after acquiring an additional 3,833 shares during the last quarter. Compass Wealth Management LLC acquired a new position in Community Health Systems during the 4th quarter worth approximately $33,000. Metropolitan Life Insurance Co NY boosted its position in Community Health Systems by 83.3% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 7,840 shares of the company’s stock worth $34,000 after acquiring an additional 3,562 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of Community Health Systems by 83.3% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,840 shares of the company’s stock worth $34,000 after purchasing an additional 3,562 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of Community Health Systems during the 4th quarter worth approximately $43,000. 81.10% of the stock is owned by institutional investors.

Community Health Systems Company Profile

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Community Health Systems, Inc engages in the provision of general and specialized healthcare services and outpatient services. The company was founded in March 1985 and is headquartered in Franklin, TN.