Assenagon Asset Management S.A. Acquires 91,985 Shares of Community Health Systems, Inc. (NYSE:CYH)

Assenagon Asset Management S.A. raised its holdings in shares of Community Health Systems, Inc. (NYSE:CYH) by 6.0% during the third quarter, Holdings Channel reports. The fund owned 1,616,212 shares of the company’s stock after buying an additional 91,985 shares during the period. Assenagon Asset Management S.A.’s holdings in Community Health Systems were worth $9,810,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Community Health Systems in the first quarter worth approximately $241,000. BNP Paribas Financial Markets grew its holdings in shares of Community Health Systems by 87.0% in the first quarter. BNP Paribas Financial Markets now owns 61,468 shares of the company’s stock worth $215,000 after purchasing an additional 28,594 shares during the last quarter. GSA Capital Partners LLP grew its holdings in shares of Community Health Systems by 8.5% in the first quarter. GSA Capital Partners LLP now owns 251,922 shares of the company’s stock worth $882,000 after purchasing an additional 19,787 shares during the last quarter. BOS Asset Management LLC bought a new stake in Community Health Systems in the first quarter valued at $80,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Community Health Systems in the first quarter valued at $1,132,000. 84.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. UBS Group lifted their price target on shares of Community Health Systems from $4.70 to $5.10 and gave the company a “neutral” rating in a report on Wednesday, August 14th. Truist Financial cut their price target on shares of Community Health Systems from $5.50 to $5.00 and set a “hold” rating on the stock in a report on Friday. Oppenheimer raised their price objective on Community Health Systems from $4.50 to $5.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Wells Fargo & Company raised their price objective on Community Health Systems from $3.50 to $5.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Finally, Barclays raised their price objective on Community Health Systems from $3.00 to $5.00 and gave the company an “equal weight” rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Community Health Systems currently has a consensus rating of “Hold” and an average target price of $5.18.

Community Health Systems Price Performance

CYH opened at $3.99 on Monday. The stock has a 50-day moving average price of $5.52 and a 200-day moving average price of $4.37. The firm has a market cap of $554.47 million, a PE ratio of -4.20 and a beta of 1.55. Community Health Systems, Inc. has a 1 year low of $2.01 and a 1 year high of $6.29.

Community Health Systems (NYSE:CYH) last released its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.14). The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the firm earned ($0.33) EPS. The business’s quarterly revenue was up .1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Community Health Systems, Inc. will post -0.41 EPS for the current year.

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.