Vanguard Group Inc. Sells 1,621,896 Shares of Community Health Systems, Inc. $CYH

Key Points

• Vanguard Group Inc. has reduced its stake in Community Health Systems by 14.5%, owning approximately 9.58 million shares valued at $25.86 million as of its latest filing.
• Community Health Systems missed earnings estimates with a reported loss of ($0.05) per share, despite achieving revenues of $3.13 billion.
• Analysts have recently adjusted their target prices for Community Health Systems, with a consensus target price of $3.58, reflecting a cautious outlook on the stock.

Vanguard Group Inc. lessened its position in Community Health Systems, Inc. (NYSE:CYH - Free Report) by 14.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,578,761 shares of the company's stock after selling 1,621,896 shares during the period. Vanguard Group Inc. owned approximately 6.83% of Community Health Systems worth $25,863,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its stake in Community Health Systems by 250.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,023 shares of the company's stock valued at $27,000 after buying an additional 6,445 shares during the period. R Squared Ltd increased its stake in Community Health Systems by 71.6% during the 1st quarter. R Squared Ltd now owns 10,950 shares of the company's stock valued at $30,000 after buying an additional 4,570 shares during the period. Two Sigma Securities LLC acquired a new position in Community Health Systems during the 4th quarter valued at about $33,000. Harbor Capital Advisors Inc. acquired a new position in Community Health Systems during the 1st quarter valued at about $36,000. Finally, Red Door Wealth Management LLC increased its stake in Community Health Systems by 30.4% during the 1st quarter. Red Door Wealth Management LLC now owns 30,000 shares of the company's stock valued at $81,000 after buying an additional 7,000 shares during the period. Institutional investors and hedge funds own 84.99% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wells Fargo & Company lowered their target price on shares of Community Health Systems from $3.50 to $2.50 and set an "underweight" rating on the stock in a research note on Thursday, August 14th. Royal Bank Of Canada reduced their price objective on shares of Community Health Systems from $6.00 to $5.00 and set an "outperform" rating for the company in a research report on Friday, July 25th. UBS Group reduced their price objective on shares of Community Health Systems from $3.50 to $3.20 and set a "neutral" rating for the company in a research report on Friday, July 25th. Jefferies Financial Group restated a "hold" rating and set a $3.00 price objective (down previously from $4.25) on shares of Community Health Systems in a research report on Thursday, July 24th. Finally, Barclays reduced their price objective on shares of Community Health Systems from $4.00 to $3.50 and set an "equal weight" rating for the company in a research report on Thursday, July 24th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $3.58.

Community Health Systems Trading Down 0.5%

Shares of CYH traded down $0.02 during midday trading on Wednesday, hitting $2.81. The stock had a trading volume of 1,806,750 shares, compared to its average volume of 1,667,920. Community Health Systems, Inc. has a fifty-two week low of $2.24 and a fifty-two week high of $6.29. The business has a 50-day simple moving average of $3.02 and a two-hundred day simple moving average of $3.09. The firm has a market cap of $393.04 million, a P/E ratio of -1.88 and a beta of 1.90.

Community Health Systems (NYSE:CYH - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.10). The business had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same period last year, the firm posted ($0.17) EPS. Community Health Systems's revenue for the quarter was down .2% on a year-over-year basis. Community Health Systems has set its FY 2025 guidance at -0.400--0.100 EPS. On average, analysts expect that Community Health Systems, Inc. will post -0.29 earnings per share for the current fiscal year.

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.