BlackRock Inc. Acquires New Position in Community Health Systems, Inc. $CYH

Key Points

• BlackRock acquired 10.93 million shares of Community Health Systems during the second quarter, valued at approximately $36.5 million and representing a 7.75% stake. Institutional investors collectively own 84.99% of the company.
• Analyst sentiment remains cautious, with one Buy, three Hold and three Sell ratings. The consensus rating is “Reduce,” with an average price target of $2.95.
• Community Health Systems reported a quarterly loss of $0.19 per share, missing estimates, while revenue fell 9.8% year over year to $2.83 billion. The stock opened at $2.94, compared with a 52-week range of $2.40 to $4.43.

BlackRock Inc. purchased a new stake 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 & Exchange Commission. The fund purchased 10,930,538 shares of the company's stock, valued at approximately $36,508,000. BlackRock Inc. owned approximately 7.75% of Community Health Systems at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CYH. Carronade Capital Management LP increased its stake in Community Health Systems by 306.7% in the 1st quarter. Carronade Capital Management LP now owns 1,321,923 shares of the company's stock worth $3,886,000 after buying an additional 996,923 shares in the last quarter. Whitebox Advisors LLC grew its position in shares of Community Health Systems by 42.1% during the first quarter. Whitebox Advisors LLC now owns 3,127,884 shares of the company's stock worth $9,196,000 after purchasing an additional 926,364 shares in the last quarter. Eversept Partners LP lifted its holdings in Community Health Systems by 9.2% in the 1st quarter. Eversept Partners LP now owns 8,677,281 shares of the company's stock worth $25,511,000 after purchasing an additional 733,479 shares in the last quarter. Saba Capital Management L.P. grew its holdings in Community Health Systems by 219.8% during the 1st quarter. Saba Capital Management L.P. now owns 1,281,839 shares of the company's stock valued at $3,769,000 after buying an additional 881,031 shares in the last quarter. Finally, Owl Creek Asset Management L.P. lifted its holdings in shares of Community Health Systems by 65.4% in the first quarter. Owl Creek Asset Management L.P. now owns 2,530,622 shares of the company's stock worth $7,440,000 after buying an additional 1,000,862 shares in the last quarter. 84.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Royal Bank Of Canada decreased their price target 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. Barclays dropped their price target on Community Health Systems from $3.00 to $2.50 and set an "underweight" rating for the company in a research note on Thursday, July 23rd. Truist Financial decreased their price objective on Community Health Systems from $3.75 to $3.25 and set a "hold" rating on the stock in a report on Monday, July 27th. Weiss Ratings raised shares of Community Health Systems from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, July 2nd. Finally, UBS Group lowered their price objective on shares of Community Health Systems from $3.20 to $3.00 and set a "neutral" rating for the company in a research report on Friday, July 24th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Community Health Systems has an average rating of "Reduce" and a consensus target price of $2.95.

Insider Activity

In other news, Director William Norris Jennings sold 40,000 shares of the company's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $2.96, for a total transaction of $118,400.00. Following the transaction, the director owned 38,468 shares of the company's stock, valued at approximately $113,865.28. This represents a 50.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 11.10% of the stock is owned by company insiders.

Community Health Systems Stock Performance

NYSE:CYH opened at $2.94 on Wednesday. The firm has a market capitalization of $414.57 million, a PE ratio of 1.59 and a beta of 1.84. The stock's fifty day moving average is $3.13 and its 200 day moving average is $3.07. Community Health Systems, Inc. has a fifty-two week low of $2.40 and a fifty-two week high of $4.43.

Community Health Systems (NYSE:CYH - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.09). Community Health Systems had a net margin of 2.10% and a negative return on equity of 6.66%. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter last year, the firm earned ($0.05) EPS. The company's revenue 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. Equities analysts forecast that Community Health Systems, Inc. will post -0.86 EPS for the current year.

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.

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