Eversept Partners LP recently announced the acquisition of new stake in Community Health Systems Inc. (NYSE:CYH). The institutional investor has increased its shareholding in the Healthcare company by 350.33% to 9.02 million shares with purchase of 7.01 million shares. This fresh investment now brings its stake to 6.69% valued currently at $57.16 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.49 million to 8.89 million shares. And SSgA Funds Management, Inc. has lifted its position by 5.48% or 0.27 million shares – to 5.25 million shares.
With over 1.65 million Community Health Systems Inc. (CYH) shares trading Friday and a closing price of $3.47 on the day, the dollar volume was approximately $5.71 million. The shares have shown a positive half year performance of 9.46% and its price on 05/19/23 lost nearly -2.53%. Currently, there are 129.69M common shares owned by the public and among those 126.20M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 11 analysts who have offered their price forecasts for CYH have a consensus price objective of $6.44. The analysts have set the share’s price value over the next 12 months at a high of $13.75 and a low of $4.00. The average price target is 46.12% above its recent price level and an upside to the estimated low will see the stock gain 13.25% over that period. But an upside of 74.76% will see the stock hit the forecast high price target while median target price for the stock is $5.88.
Insiders at the company have transacted a total of 51 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 38 of these insider trades were purchases, accounting for 2,281,031 shares. Insider sales of the common stock occurred on 13 occasions, with total insider shares sold totaling 441,863 shares.
The top 3 mutual fund holders in Community Health Systems Inc. are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF. iShares Core S&P Small Cap ETF owns 9.07 million shares of the company’s stock, all valued at over $57.5 million. The company sold 14586.0 shares recently to bring their total holdings to about 6.73% of the shares outstanding. iShares Russell 2000 ETF sold 38720.0 shares to bring its total holdings to over 2.65 million shares at a value of $16.78 million. iShares Russell 2000 ETF now owns shares totaling to 1.97% of the shares outstanding.
Shares of Community Health Systems Inc. (NYSE: CYH) opened at $3.61, up $0.05 from a prior closing price of $3.56. However, the script later moved the day high at 3.6150, down -2.53%. The company’s stock has a 5-day price change of -0.86% and -56.30% over the past three months. CYH shares are trading -19.68% year to date (YTD), with the 12-month market performance down to -41.29% lower. It has a 12-month low price of $1.88 and touched a high of $8.01 over the same period. CYH has an average intraday trading volume of 2.04 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -21.56%, -27.57%, and -13.31% respectively.
Institutional ownership of Community Health Systems Inc. (NYSE: CYH) shares accounts for 82.50% of the company’s 129.69M shares outstanding. Mutual fund holders own 42.53%, while other institutional holders and individual stakeholders account for 51.67% and 39.55% respectively.
It has a market capitalization of $486.81M and a beta (3y monthly) value of 1.71. The earnings-per-share (ttm) stands at -$0.15. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.59% over the week and 6.73% over the month.
Analysts forecast that Community Health Systems Inc. (CYH) will achieve an EPS of -$0.25 for the current quarter, -$0.13 for the next quarter and $0.41 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.37 while analysts give the company a high EPS estimate of -$0.13. Comparatively, EPS for the current quarter was -$2.52 a year ago. Earnings per share for the fiscal year are expected to decrease by -79.90%, and 174.50% over the next financial year. EPS should shrink at an annualized rate of -7.95% over the next five years, compared to 15.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 11 brokerage firm advisors rate Community Health Systems Inc. (CYH) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 7 of the 11 advise that investors “hold,” and 0 rated it as a “Sell.”
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