Community Health Systems (NYSE:CYH) Stock Passes Above 200-Day Moving Average – What’s Next?

Community Health Systems, Inc. (NYSE:CYH) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.17 and traded as high as $3.30. Community Health Systems shares last traded at $3.14, with a volume of 2,051,706 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CYH shares. UBS Group increased their price objective on shares of Community Health Systems from $3.20 to $3.60 and gave the company a “neutral” rating in a research report on Monday, October 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Community Health Systems in a research note on Monday, December 29th. Wells Fargo & Company cut their target price on Community Health Systems from $3.00 to $2.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 7th. Truist Financial set a $4.50 price target on Community Health Systems in a research report on Monday, January 5th. Finally, Wall Street Zen lowered Community Health Systems from a “buy” rating to a “hold” rating in a report 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 assigned a Sell rating to the company. According to MarketBeat.com, Community Health Systems has an average rating of “Hold” and a consensus price target of $3.60.

Community Health Systems Trading Down 1.9%

The firm has a market cap of $434.95 million, a price-to-earnings ratio of 1.30 and a beta of 2.04. The company has a fifty day moving average price of $3.29 and a 200-day moving average price of $3.17.

Institutional Trading of Community Health Systems

A number of hedge funds have recently added to or reduced their stakes in CYH. Nomura Holdings Inc. increased its holdings in Community Health Systems by 25.9% in the second quarter. Nomura Holdings Inc. now owns 7,271,079 shares of the company’s stock valued at $24,722,000 after buying an additional 1,494,378 shares in the last quarter. Bank of America Corp DE raised its holdings in Community Health Systems by 112.4% in the 2nd 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 during the period. Aberdeen Group plc boosted its position in Community Health Systems by 141.2% during the third quarter. Aberdeen Group plc now owns 1,429,780 shares of the company’s stock worth $4,490,000 after purchasing an additional 837,068 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in Community Health Systems by 1,073.2% in the second quarter. Canada Pension Plan Investment Board now owns 476,300 shares of the company’s stock valued at $1,619,000 after purchasing an additional 435,700 shares during the period. Finally, Owl Creek Asset Management L.P. raised its stake in shares of 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 worth $6,335,000 after buying an additional 388,826 shares during the period. 84.99% of the stock is owned by hedge funds and other 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.