Community Health Systems Target of Unusually High Options Trading (NYSE:CYH)

Community Health Systems, Inc. (NYSE:CYH) was the target of some unusual options trading activity on Monday. Investors purchased 8,525 put options on the company. This represents an increase of approximately 210% compared to the average daily volume of 2,751 put options.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CYH. Truist Financial boosted their price target on Community Health Systems from $3.25 to $3.75 and gave the stock a “hold” rating in a research note on Friday. StockNews.com raised Community Health Systems from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. Barclays started coverage on shares of Community Health Systems in a research note on Wednesday, March 6th. They issued an “equal weight” rating and a $3.00 price objective on the stock. Finally, Oppenheimer reduced their price target on shares of Community Health Systems from $5.50 to $4.50 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $4.05.

Community Health Systems Trading Down 2.7 %

Shares of CYH stock opened at $3.30 on Tuesday. The company has a market capitalization of $458.64 million, a price-to-earnings ratio of -3.47 and a beta of 1.52. The firm has a 50-day moving average price of $3.05 and a 200 day moving average price of $3.07. Community Health Systems has a twelve month low of $2.01 and a twelve month high of $6.53.

Community Health Systems (NYSE:CYH) last posted its quarterly earnings data on Wednesday, April 24th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. The business had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.09 billion. Community Health Systems had a negative net margin of 0.99% and a negative return on equity of 5.51%. The company’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.43) earnings per share. As a group, research analysts predict that Community Health Systems will post -0.4 earnings per share for the current year.

Institutional Trading of Community Health Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jump Financial LLC acquired a new stake in shares of Community Health Systems during the 3rd quarter worth $30,000. Red Door Wealth Management LLC purchased a new stake in shares of Community Health Systems during the 4th quarter worth about $36,000. Eagle Asset Management Inc. purchased a new position in Community Health Systems in the fourth quarter valued at approximately $40,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Community Health Systems during the third quarter valued at approximately $38,000. Finally, Convergence Investment Partners LLC purchased a new stake in Community Health Systems during the third quarter worth approximately $44,000. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Community Health Systems Company 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.