Bank of New York Mellon Corp Takes $2.12 Million Position in Community Health Systems, Inc. $CYH

Key Points

• Bank of New York Mellon acquired 635,354 shares of Community Health Systems worth approximately $2.12 million, giving it a 0.45% stake. Overall, institutional investors own 84.99% of the company.
• Community Health Systems reported weaker-than-expected quarterly results, with an EPS loss of $0.19 versus a $0.10 consensus loss and revenue of $2.83 billion, down 9.8% year over year.
• Analyst sentiment remains cautious: the stock has an average “Reduce” rating and a $2.95 target price, while shares recently opened at $2.88 after declining 0.3%.

Bank of New York Mellon Corp purchased a new position in shares of Community Health Systems, Inc. (NYSE:CYH - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 635,354 shares of the company's stock, valued at approximately $2,122,000. Bank of New York Mellon Corp owned 0.45% of Community Health Systems at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CYH. Marshall Wace LLP boosted its holdings in Community Health Systems by 276.3% in the fourth quarter. Marshall Wace LLP now owns 1,523,837 shares of the company's stock valued at $4,754,000 after purchasing an additional 1,118,864 shares during the last quarter. Owl Creek Asset Management L.P. raised its position in shares of Community Health Systems by 65.4% in the 1st quarter. Owl Creek Asset Management L.P. now owns 2,530,622 shares of the company's stock valued at $7,440,000 after purchasing an additional 1,000,862 shares in the last quarter. Carronade Capital Management LP boosted its stake in shares of Community Health Systems by 306.7% during the 1st quarter. Carronade Capital Management LP now owns 1,321,923 shares of the company's stock valued at $3,886,000 after buying an additional 996,923 shares during the last quarter. Eversept Partners LP increased its stake in shares of Community Health Systems by 14.3% in the fourth quarter. Eversept Partners LP now owns 7,943,802 shares of the company's stock worth $24,785,000 after buying an additional 993,751 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Community Health Systems by 112.4% during the 2nd quarter. Bank of America Corp DE now owns 1,872,343 shares of the company's stock valued at $6,366,000 after acquiring an additional 991,014 shares during the last quarter. 84.99% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Community Health Systems

In other news, Director William Jennings sold 40,000 shares of the business's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $2.96, for a total transaction of $118,400.00. Following the completion of the transaction, the director owned 38,468 shares of the company's stock, valued at approximately $113,865.28. The trade was a 50.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 11.10% of the company's stock.

Community Health Systems Stock Down 0.3%

Shares of CYH stock opened at $2.88 on Tuesday. The company has a market cap of $406.11 million, a P/E ratio of 1.56 and a beta of 1.86. The business has a 50 day moving average of $3.10 and a two-hundred day moving average of $3.06. Community Health Systems, Inc. has a 52 week low of $2.40 and a 52 week high of $4.43.

Community Health Systems (NYSE:CYH - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.09). Community Health Systems had a negative return on equity of 6.66% and a net margin of 2.10%.The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same period last year, the business posted ($0.05) EPS. The company's revenue for the quarter was down 9.8% on a year-over-year basis. Community Health Systems has set its FY 2026 guidance at -1.250--1.100 EPS. Analysts expect that Community Health Systems, Inc. will post -0.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CYH shares. Royal Bank Of Canada cut their target price on shares of Community Health Systems from $5.00 to $4.00 and set an "outperform" rating on the stock in a research note on Monday, July 27th. Wall Street Zen lowered Community Health Systems from a "hold" rating to a "sell" rating in a report on Saturday, July 25th. Barclays reduced their target price on Community Health Systems from $3.00 to $2.50 and set an "underweight" rating on the stock in a report on Thursday, July 23rd. Truist Financial decreased their target price on Community Health Systems from $3.75 to $3.25 and set a "hold" rating for the company in a research report on Monday, July 27th. Finally, Weiss Ratings raised Community Health Systems from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, July 2nd. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Community Health Systems presently has an average rating of "Reduce" and an average target price of $2.95.

About Community Health Systems

Community Health Systems, Inc NYSE: CYH is one of the largest publicly traded hospital operators in the United States. Headquartered in Franklin, Tennessee, the company owns, leases and manages general acute care hospitals and outpatient facilities, primarily in non-urban and mid-market communities. CHS is focused on delivering locally accessible healthcare services through its network of affiliated hospitals, clinics and post-acute providers.

The company's core offerings include inpatient medical and surgical care, emergency services, critical care, diagnostic imaging and laboratory testing.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.