11 Best NYSE Penny Stocks to Buy Right Now

8. Community Health Systems, Inc. (NYSE:CYH)

Price as of October 31: $4.32

Number of Hedge Fund Holders: 26

Community Health Systems, Inc. (NYSE:CYH) is a healthcare company that owns, leases, and operates general acute care hospitals in the United States. It also provides outpatient services at primary care practices, urgent care centers and ambulatory surgery centers. It is turning out to be one of the best NYSE penny stocks to buy right now, going by its 32% year-to-date gain, outperforming the overall market.

The 69-hospital system company delivered mixed third-quarter results dampened by significant increase in payer denials and coding downgrades by managed care plans. Nevertheless, revenues were slightly up from a year ago, in the same quarter, to $3.09 billion, attributed to higher hospital patient volumes and growth in the ambulatory surgery center. Revenue growth underscores the company’s efficacy in improving operations to generate more value. Community Health Systems, Inc. (NYSE:CYH) has invested in bed expansion initiatives and physician recruitment programs.

Additionally, it is one of the healthcare companies well positioned to benefit from the “two-midnight” rule that requires patients to be admitted whenever a clinical team believes they need care that lasts more than two midnights. Community Health Systems, Inc. (NYSE:CYH) is also progressing on a $1 billion divestiture plan as it looks to generate more shareholder value.