Community Health Systems (NYSE:CYH) Share Price Passes Above 200 Day Moving Average – Here’s Why

Community Health Systems, Inc. (NYSE:CYH)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.19 and traded as high as $3.41. Community Health Systems shares last traded at $3.3550, with a volume of 1,008,223 shares trading hands.

Wall Street Analysts Forecast Growth

CYH has been the topic of a number of research reports. Truist Financial set a $4.50 target price on shares of Community Health Systems in a report on Monday, January 5th. Weiss Ratings restated a “hold (c)” rating on shares of Community Health Systems in a research report on Monday, December 29th. Wells Fargo & Company lowered their price objective on Community Health Systems from $3.00 to $2.00 and set an “underweight” rating for the company in a research note on Wednesday. UBS Group boosted their target price on Community Health Systems from $3.20 to $3.60 and gave the company a “neutral” rating in a research report on Monday, October 27th. Finally, Wall Street Zen lowered shares of Community Health Systems from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $3.60.

Community Health Systems Stock Down 1.0%

The stock has a market capitalization of $459.19 million, a PE ratio of 4.31 and a beta of 2.04. The stock’s 50 day moving average price is $3.34 and its 200-day moving average price is $3.19.

Community Health Systems (NYSE:CYH) last released its quarterly earnings data on Thursday, October 23rd. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $1.57. Community Health Systems had a net margin of 2.60% and a negative return on equity of 6.90%. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same period in the previous year, the company earned ($0.30) EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. Community Health Systems has set its FY 2025 guidance at 0.800-0.900 EPS. As a group, sell-side analysts predict that Community Health Systems, Inc. will post -0.29 earnings per share for the current fiscal year.

Institutional Trading of Community Health Systems

Institutional investors and hedge funds have recently made changes to their positions in the company. Nomura Holdings Inc. grew its position in shares of Community Health Systems by 25.9% in the 2nd quarter. Nomura Holdings Inc. now owns 7,271,079 shares of the company’s stock worth $24,722,000 after buying an additional 1,494,378 shares during the last quarter. Bank of America Corp DE increased its position in shares of Community Health Systems by 112.4% during the second quarter. Bank of America Corp DE now owns 1,872,343 shares of the company’s stock worth $6,366,000 after purchasing an additional 991,014 shares in the last quarter. Aberdeen Group plc lifted its holdings in shares of Community Health Systems by 141.2% during the 3rd quarter. Aberdeen Group plc now owns 1,429,780 shares of the company’s stock valued at $4,490,000 after purchasing an additional 837,068 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in Community Health Systems by 1,073.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 476,300 shares of the company’s stock worth $1,619,000 after buying an additional 435,700 shares during the last quarter. Finally, Owl Creek Asset Management L.P. increased its position in Community Health Systems by 26.4% during the 2nd quarter. Owl Creek Asset Management L.P. now owns 1,863,221 shares of the company’s stock valued at $6,335,000 after buying an additional 388,826 shares in the last quarter. 84.99% of the stock is currently owned by institutional investors.

Community Health Systems Company Profile

Community Health Systems, Inc (NYSE: CYH) is one of the largest publicly traded hospital operators in the United States. Headquartered in Franklin, Tennessee, the company owns, leases and manages general acute care hospitals and outpatient facilities, primarily in non-urban and mid-market communities. CHS is focused on delivering locally accessible healthcare services through its network of affiliated hospitals, clinics and post-acute providers.

The company’s core offerings include inpatient medical and surgical care, emergency services, critical care, diagnostic imaging and laboratory testing.