Community Health Systems, Inc. (NYSE:CYH) Position Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in Community Health Systems, Inc. (NYSE:CYH) by 35.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 377,160 shares of the company’s stock after selling 208,988 shares during the quarter. Bank of New York Mellon Corp’s holdings in Community Health Systems were worth $1,128,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Apollon Wealth Management LLC bought a new position in shares of Community Health Systems in the fourth quarter valued at approximately $60,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in Community Health Systems by 93.1% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 49,580 shares of the company’s stock worth $148,000 after acquiring an additional 23,902 shares during the period. SG Americas Securities LLC lifted its position in Community Health Systems by 166.7% during the 4th quarter. SG Americas Securities LLC now owns 59,529 shares of the company’s stock worth $178,000 after acquiring an additional 37,211 shares during the last quarter. Intech Investment Management LLC bought a new stake in Community Health Systems during the third quarter valued at about $207,000. Finally, Franklin Resources Inc. increased its stake in shares of Community Health Systems by 4.1% in the third quarter. Franklin Resources Inc. now owns 75,520 shares of the company’s stock worth $422,000 after purchasing an additional 2,989 shares during the period. 84.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Barclays lowered their target price on Community Health Systems from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, February 20th. StockNews.com raised shares of Community Health Systems from a “sell” rating to a “hold” rating in a research report on Thursday, February 20th. Wells Fargo & Company reduced their price target on shares of Community Health Systems from $2.50 to $2.00 and set an “underweight” rating for the company in a report on Monday, March 10th. Truist Financial dropped their price objective on shares of Community Health Systems from $5.00 to $3.50 and set a “hold” rating on the stock in a report on Monday, January 6th. Finally, UBS Group decreased their target price on Community Health Systems from $4.80 to $4.10 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $4.10.

Community Health Systems Trading Up 6.7 %

Shares of CYH opened at $2.78 on Tuesday. The stock has a 50 day simple moving average of $3.16 and a 200-day simple moving average of $3.94. The stock has a market cap of $389.59 million, a PE ratio of -0.71 and a beta of 1.81. Community Health Systems, Inc. has a 1 year low of $2.53 and a 1 year high of $6.29.

Community Health Systems (NYSE:CYH) last issued its quarterly earnings data on Tuesday, February 18th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.51). The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.14 billion. On average, sell-side analysts forecast that Community Health Systems, Inc. will post -0.29 EPS for the current fiscal year.

Community Health Systems Profile

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.