Community Health Systems (NYSE:CYH) Shares Gap Up to $14.23

Community Health Systems, Inc. (NYSE:CYH)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $14.23, but opened at $15.09. Community Health Systems shares last traded at $15.50, with a volume of 9,124 shares.

Several research analysts have issued reports on CYH shares. Truist increased their price objective on Community Health Systems from $9.00 to $12.00 in a research note on Wednesday, April 14th. Jefferies Financial Group reiterated a “buy” rating on shares of Community Health Systems in a research note on Friday, June 18th. Seaport Res Ptn reiterated a “neutral” rating on shares of Community Health Systems in a research note on Friday, July 9th. Seaport Global Securities began coverage on shares of Community Health Systems in a research note on Friday, July 9th. They issued a “neutral” rating and a $16.02 target price for the company. Finally, Royal Bank of Canada upgraded shares of Community Health Systems from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $12.00 to $21.00 in a research note on Thursday, June 10th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Community Health Systems currently has a consensus rating of “Hold” and a consensus price target of $14.50.

The business has a 50-day moving average price of $15.16. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 4.35, a price-to-earnings-growth ratio of 2.16 and a beta of 1.93.

Community Health Systems (NYSE:CYH) last announced its quarterly earnings data on Tuesday, April 27th. The company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.53. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.98 billion. Community Health Systems had a negative return on equity of 15.87% and a net margin of 3.64%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the company earned ($1.59) EPS. Research analysts expect that Community Health Systems, Inc. will post 0.68 EPS for the current fiscal year.

In other news, Director William Norris Jennings sold 30,000 shares of Community Health Systems stock in a transaction that occurred on Tuesday, June 1st. The shares were sold at an average price of $15.51, for a total transaction of $465,300.00. Following the completion of the sale, the director now owns 67,112 shares in the company, valued at approximately $1,040,907.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John A. Fry sold 31,500 shares of the company’s stock in a transaction dated Wednesday, June 9th. The shares were sold at an average price of $15.55, for a total value of $489,825.00. Following the completion of the sale, the director now owns 106,630 shares of the company’s stock, valued at approximately $1,658,096.50. The disclosure for this sale can be found here. 7.10% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue increased its holdings in Community Health Systems by 4.6% in the second quarter. State of Alaska Department of Revenue now owns 85,958 shares of the company’s stock valued at $1,327,000 after purchasing an additional 3,792 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Community Health Systems by 8.2% in the first quarter. Principal Financial Group Inc. now owns 974,242 shares of the company’s stock worth $13,172,000 after purchasing an additional 74,177 shares during the period. Virtu Financial LLC acquired a new stake in Community Health Systems in the first quarter worth $975,000. D. E. Shaw & Co. Inc. raised its holdings in Community Health Systems by 12.8% in the first quarter. D. E. Shaw & Co. Inc. now owns 3,064,769 shares of the company’s stock worth $41,436,000 after purchasing an additional 346,624 shares during the period. Finally, Morgan Stanley raised its holdings in Community Health Systems by 53.7% in the first quarter. Morgan Stanley now owns 830,056 shares of the company’s stock worth $11,222,000 after purchasing an additional 289,962 shares during the period. Institutional investors and hedge funds own 82.71% of the company’s stock.

About Community Health Systems (NYSE:CYH)

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.

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