Jennison Associates LLC Has $938,000 Position in Community Health Systems, Inc. (NYSE:CYH)

Jennison Associates LLC reduced its holdings in Community Health Systems, Inc. (NYSE:CYH) by 16.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 80,204 shares of the company’s stock after selling 16,175 shares during the quarter. Jennison Associates LLC’s holdings in Community Health Systems were worth $938,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Vident Investment Advisory LLC grew its position in shares of Community Health Systems by 0.6% in the 2nd quarter. Vident Investment Advisory LLC now owns 140,232 shares of the company’s stock valued at $2,165,000 after acquiring an additional 846 shares during the period. Commonwealth Equity Services LLC grew its position in shares of Community Health Systems by 5.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 17,157 shares of the company’s stock valued at $200,000 after acquiring an additional 933 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Community Health Systems by 1.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 95,322 shares of the company’s stock valued at $1,472,000 after acquiring an additional 1,361 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of Community Health Systems by 1.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 101,543 shares of the company’s stock worth $1,568,000 after buying an additional 1,457 shares during the period. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Community Health Systems by 37.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 5,551 shares of the company’s stock worth $65,000 after buying an additional 1,519 shares during the period. Hedge funds and other institutional investors own 79.62% of the company’s stock.

Several analysts recently commented on the stock. Truist Securities reduced their target price on shares of Community Health Systems from $14.00 to $12.00 and set a “hold” rating for the company in a report on Wednesday, October 13th. UBS Group assumed coverage on shares of Community Health Systems in a report on Thursday, September 23rd. They set a “neutral” rating and a $12.50 target price for the company. Bank of America raised shares of Community Health Systems from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $14.00 to $16.00 in a report on Monday, December 13th. Zacks Investment Research raised shares of Community Health Systems from a “hold” rating to a “strong-buy” rating and set a $14.00 target price for the company in a report on Friday, October 29th. Finally, Truist cut their price objective on shares of Community Health Systems from $14.00 to $12.00 and set a “hold” rating for the company in a report on Wednesday, October 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $14.60.

Shares of NYSE:CYH opened at $13.12 on Friday. The firm has a 50 day moving average of $13.23 and a 200-day moving average of $12.91. The stock has a market capitalization of $1.73 billion, a PE ratio of 4.45, a PEG ratio of 0.54 and a beta of 1.74. Community Health Systems, Inc. has a 12 month low of $7.89 and a 12 month high of $17.04.

Community Health Systems (NYSE:CYH) last issued its earnings results on Tuesday, October 26th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.13 by $0.56. The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Community Health Systems had a net margin of 2.97% and a negative return on equity of 18.40%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 EPS. On average, sell-side analysts forecast that Community Health Systems, Inc. will post 1.52 EPS for the current fiscal year.

Community Health Systems Profile

Community Health Systems, Inc engages in the management and operations of hospitals. It operates general acute care hospitals and related healthcare entities that provide inpatient and outpatient healthcare services. The company was founded in March 1985 and is headquartered in Franklin, TN.

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Institutional Ownership by Quarter for Community Health Systems (NYSE:CYH)

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