Principal Financial Group Inc. Sells 4,358 Shares of Community Health Systems, Inc. (NYSE:CYH)

Principal Financial Group Inc. cut its holdings in Community Health Systems, Inc. (NYSE:CYH) by 29.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,476 shares of the company’s stock after selling 4,358 shares during the quarter. Principal Financial Group Inc.’s holdings in Community Health Systems were worth $64,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. DekaBank Deutsche Girozentrale acquired a new stake in Community Health Systems in the 2nd quarter valued at about $33,000. Signaturefd LLC acquired a new stake in shares of Community Health Systems in the third quarter valued at approximately $33,000. Canada Pension Plan Investment Board bought a new position in Community Health Systems in the 2nd quarter worth approximately $45,000. CWM LLC boosted its position in Community Health Systems by 32.1% in the 3rd quarter. CWM LLC now owns 12,191 shares of the company’s stock valued at $74,000 after buying an additional 2,961 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new stake in shares of Community Health Systems in the 3rd quarter valued at $94,000. 84.99% of the stock is owned by institutional investors.

Community Health Systems Stock Performance

CYH opened at $3.04 on Wednesday. Community Health Systems, Inc. has a twelve month low of $2.51 and a twelve month high of $6.29. The firm has a market cap of $422.40 million, a PE ratio of -1.01 and a beta of 1.59. The firm’s fifty day moving average is $3.58 and its two-hundred day moving average is $4.43.

Community Health Systems (NYSE:CYH) last posted its earnings results on Wednesday, October 23rd. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.14). The business had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the previous year, the company posted ($0.33) EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. Equities analysts forecast that Community Health Systems, Inc. will post -0.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CYH shares. Barclays raised their price target on Community Health Systems from $3.00 to $5.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Wells Fargo & Company cut shares of Community Health Systems from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $5.00 to $2.50 in a research report on Monday, November 25th. Truist Financial cut 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. StockNews.com lowered shares of Community Health Systems from a “hold” rating to a “sell” rating in a report on Monday, November 25th. Finally, Raymond James downgraded Community Health Systems from a “market perform” rating to an “underperform” rating in a research note on Friday, November 22nd. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $4.52.

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.