Assenagon Asset Management S.A. Invests $5.12 Million in Community Health Systems, Inc. (NYSE:CYH)

Assenagon Asset Management S.A. acquired a new position in Community Health Systems, Inc. (NYSE:CYH) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,524,227 shares of the company’s stock, valued at approximately $5,121,000. Assenagon Asset Management S.A. owned approximately 1.10% of Community Health Systems as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC raised its stake in shares of Community Health Systems by 384.7% in the 2nd quarter. SG Americas Securities LLC now owns 212,852 shares of the company’s stock worth $715,000 after buying an additional 168,941 shares in the last quarter. Apollo Management Holdings L.P. bought a new stake in shares of Community Health Systems in the 1st quarter worth $5,149,000. Price T Rowe Associates Inc. MD raised its stake in shares of Community Health Systems by 7.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 96,027 shares of the company’s stock worth $337,000 after buying an additional 6,852 shares in the last quarter. Quadrature Capital Ltd raised its stake in shares of Community Health Systems by 236.2% in the 1st quarter. Quadrature Capital Ltd now owns 105,777 shares of the company’s stock worth $370,000 after buying an additional 74,319 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Community Health Systems by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 8,124,617 shares of the company’s stock worth $28,436,000 after buying an additional 28,669 shares in the last quarter. Institutional investors own 84.99% of the company’s stock.

Community Health Systems Trading Up 1.2 %

Shares of CYH stock opened at $5.01 on Monday. Community Health Systems, Inc. has a 1-year low of $2.01 and a 1-year high of $5.48. The company has a market capitalization of $696.22 million, a price-to-earnings ratio of -5.27 and a beta of 1.52. The stock’s fifty day simple moving average is $4.02 and its 200-day simple moving average is $3.57.

Community Health Systems (NYSE:CYH) last issued its earnings results on Wednesday, July 24th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.05). The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the prior year, the business earned ($0.22) EPS. Community Health Systems’s quarterly revenue was up .8% on a year-over-year basis. On average, sell-side analysts predict that Community Health Systems, Inc. will post -0.41 EPS for the current year.

Analyst Ratings Changes

CYH has been the topic of a number of recent research reports. Oppenheimer lifted their target price on Community Health Systems from $4.50 to $5.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. UBS Group lifted their target price on Community Health Systems from $4.70 to $5.10 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Royal Bank of Canada restated an “outperform” rating and issued a $6.00 target price on shares of Community Health Systems in a report on Monday, August 12th. Truist Financial lifted their target price on Community Health Systems from $3.75 to $4.25 and gave the stock a “hold” rating in a report on Monday, July 15th. Finally, Wells Fargo & Company lifted their target price on Community Health Systems from $3.50 to $5.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $4.73.

About Community Health Systems

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.