Community Health Systems (NYSE:CYH) Shares Cross 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 Friday . The stock has a 200-day moving average of $3.27 and traded as high as $3.30. Community Health Systems shares last traded at $3.2050, with a volume of 1,224,579 shares changing hands.

Analysts Set New Price Targets

CYH has been the subject of several research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Community Health Systems in a research report on Monday, December 29th. Wells Fargo & Company dropped their price target on Community Health Systems from $3.00 to $2.00 and set an “underweight” rating for the company in a research note on Wednesday, January 7th. Truist Financial set a $4.50 price objective on Community Health Systems in a report on Monday, January 5th. Zacks Research raised Community Health Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Finally, UBS Group boosted their target price on Community Health Systems from $3.60 to $3.70 and gave the stock a “neutral” rating in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Community Health Systems currently has a consensus rating of “Hold” and an average target price of $3.62.

Community Health Systems Stock Performance

The company has a market cap of $444.31 million, a PE ratio of 0.85 and a beta of 2.10. The business’s 50-day moving average is $3.32 and its 200 day moving average is $3.27.

Institutional Investors Weigh In On Community Health Systems

Institutional investors have recently bought and sold shares of the stock. Nomura Holdings Inc. grew its position in Community Health Systems by 25.9% during the 2nd quarter. Nomura Holdings Inc. now owns 7,271,079 shares of the company’s stock worth $24,722,000 after acquiring an additional 1,494,378 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Community Health Systems by 276.3% during the fourth quarter. Marshall Wace LLP now owns 1,523,837 shares of the company’s stock valued at $4,754,000 after purchasing an additional 1,118,864 shares during the period. Eversept Partners LP grew its holdings in shares of Community Health Systems by 14.3% in the fourth quarter. Eversept Partners LP now owns 7,943,802 shares of the company’s stock worth $24,785,000 after purchasing an additional 993,751 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Community Health Systems by 112.4% in the second quarter. Bank of America Corp DE now owns 1,872,343 shares of the company’s stock worth $6,366,000 after buying an additional 991,014 shares during the period. Finally, Aberdeen Group plc raised its holdings in 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 buying an additional 837,068 shares during the last quarter. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

About Community Health Systems

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.