Community Health Systems (NYSE:CYH) Shares Up 9.7% – Here’s What Happened

Shares of Community Health Systems, Inc. (NYSE:CYH) shot up 9.7% on Thursday . The stock traded as high as $3.86 and last traded at $3.8850. Approximately 1,202,024 shares changed hands during mid-day trading, a decline of 26% from the average daily volume of 1,626,870 shares. The stock had previously closed at $3.54.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Weiss Ratings cut shares of Community Health Systems from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, April 24th. Truist Financial dropped their price objective on shares of Community Health Systems from $3.50 to $3.00 and set a “hold” rating on the stock in a research note on Thursday, April 23rd. Barclays decreased their target price on shares of Community Health Systems from $3.50 to $3.00 and set an “equal weight” rating for the company in a research note on Thursday, April 23rd. Wall Street Zen cut Community Health Systems from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Finally, Zacks Research downgraded Community Health Systems from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $3.28.

Community Health Systems Stock Performance

The stock has a market capitalization of $523.51 million, a PE ratio of 1.09 and a beta of 1.80. The business’s 50-day moving average is $2.92 and its two-hundred day moving average is $3.11.

Community Health Systems (NYSE:CYH) last released its earnings results on Tuesday, April 21st. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.30). The firm had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.89 billion. Community Health Systems had a negative return on equity of 7.62% and a net margin of 3.78%.The firm’s revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.03) EPS. Community Health Systems has set its FY 2026 guidance at -0.600-0.000 EPS. Equities analysts forecast that Community Health Systems, Inc. will post -0.58 EPS for the current year.

Hedge Funds Weigh In On Community Health Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its stake in shares of Community Health Systems by 601.9% during the 4th quarter. Royal Bank of Canada now owns 9,286 shares of the company’s stock worth $29,000 after buying an additional 7,963 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Community Health Systems in the fourth quarter valued at approximately $34,000. Wealthcare Advisory Partners LLC acquired a new position in Community Health Systems during the fourth quarter worth $35,000. Valeo Financial Advisors LLC purchased a new position in Community Health Systems in the fourth quarter worth $39,000. Finally, Quarry LP acquired a new stake in Community Health Systems in the third quarter valued at $39,000. Institutional investors and hedge funds own 84.99% of the company’s stock.

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.