Community Health Systems (NYSE:CYH) Shares Up 5.6% – Here’s What Happened

Community Health Systems, Inc. (NYSE:CYH)’s stock price shot up 5.6% during mid-day trading on Wednesday . The stock traded as high as $3.78 and last traded at $3.77. 84,541 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 1,806,226 shares. The stock had previously closed at $3.57.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Barclays boosted their target price on Community Health Systems from $3.00 to $5.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Wells Fargo & Company downgraded shares of Community Health Systems from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $5.00 to $2.50 in a research note on Monday. Royal Bank of Canada reiterated an “outperform” rating and set a $6.00 price target on shares of Community Health Systems in a report on Monday, August 12th. StockNews.com lowered Community Health Systems from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Raymond James downgraded Community Health Systems from a “market perform” rating to an “underperform” rating in a report on Friday, November 22nd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.77.

Community Health Systems Price Performance

The firm has a market capitalization of $480.76 million, a PE ratio of -1.15 and a beta of 1.60. The stock’s 50-day moving average price is $4.89 and its 200 day moving average price is $4.50.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC purchased a new stake in shares of Community Health Systems in the 2nd quarter worth approximately $25,000. DekaBank Deutsche Girozentrale bought a new position in Community Health Systems in the second quarter worth approximately $33,000. Signaturefd LLC purchased a new stake in Community Health Systems during the third quarter worth $33,000. Canada Pension Plan Investment Board purchased a new position in shares of Community Health Systems in the 2nd quarter valued at $45,000. Finally, CWM LLC raised its position in shares of Community Health Systems by 32.1% in the 3rd quarter. CWM LLC now owns 12,191 shares of the company’s stock worth $74,000 after acquiring an additional 2,961 shares in the last quarter. 84.99% of the stock is currently owned by 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.