Investors Purchase Large Volume of Community Health Systems Call Options (NYSE:CYH)

Community Health Systems, Inc. (NYSE:CYH) was the target of some unusual options trading on Thursday. Traders bought 8,212 call options on the stock. This represents an increase of approximately 422% compared to the average volume of 1,574 call options.

Analysts Set New Price Targets

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

Community Health Systems Stock Performance

NYSE:CYH opened at $5.96 on Friday. The firm has a market capitalization of $827.54 million, a price-to-earnings ratio of -6.27 and a beta of 1.55. The stock has a fifty day moving average of $5.51 and a 200 day moving average of $4.28. Community Health Systems has a 52-week low of $2.01 and a 52-week high of $6.29.

Community Health Systems (NYSE:CYH) last posted its quarterly earnings data on Wednesday, July 24th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.05). The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter last year, the business posted ($0.22) EPS. The company’s revenue was up .8% compared to the same quarter last year. Equities analysts forecast that Community Health Systems will post -0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Community Health Systems

Several hedge funds have recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new stake in shares of Community Health Systems in the 2nd quarter valued at $25,000. DekaBank Deutsche Girozentrale bought a new position in Community Health Systems during the 2nd quarter worth approximately $33,000. CWM LLC grew its position in Community Health Systems by 32.1% during the 3rd quarter. CWM LLC now owns 12,191 shares of the company’s stock worth $74,000 after acquiring an additional 2,961 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Community Health Systems during the second quarter valued at approximately $45,000. Finally, BOS Asset Management LLC bought a new position in shares of Community Health Systems in the first quarter worth approximately $80,000. Institutional investors own 84.99% of the company’s stock.

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.