Community Health Systems Inc. (NYSE:CYH) major shareholder Tian Qiao Chen purchased 929,813 shares of the stock in a transaction dated Monday, September 26th. The stock was acquired at an average cost of $10.27 per share, for a total transaction of $9,549,179.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Community Health Systems Inc. (NYSE:CYH) traded up 2.730% during trading on Wednesday, hitting $10.725. 551,534 shares of the stock traded hands. Community Health Systems Inc. has a 1-year low of $9.66 and a 1-year high of $37.56. The firm has a 50-day moving average of $10.71 and a 200-day moving average of $13.21. The firm’s market capitalization is $1.19 billion.
Community Health Systems (NYSE:CYH) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.47. Community Health Systems had a positive return on equity of 2.10% and a negative net margin of 7.55%. The firm had revenue of $4.59 billion for the quarter, compared to analyst estimates of $4.53 billion. The company’s revenue was down 6.0% compared to the same quarter last year. On average, equities analysts forecast that Community Health Systems Inc. will post $1.34 earnings per share for the current year.
Large investors have recently bought and sold shares of the company. Wellington Management Group LLP purchased a new stake in Community Health Systems during the first quarter valued at $157,109,000. Systematic Financial Management LP purchased a new stake in Community Health Systems during the second quarter valued at $1,571,000. BNP Paribas Arbitrage SA boosted its stake in Community Health Systems by 240.9% in the second quarter. BNP Paribas Arbitrage SA now owns 79,244 shares of the company’s stock valued at $955,000 after buying an additional 56,001 shares during the period. Acadian Asset Management LLC boosted its stake in Community Health Systems by 57.1% in the first quarter. Acadian Asset Management LLC now owns 41,343 shares of the company’s stock valued at $766,000 after buying an additional 15,031 shares during the period. Finally, Teachers Advisors Inc. boosted its stake in Community Health Systems by 6.1% in the first quarter. Teachers Advisors Inc. now owns 110,325 shares of the company’s stock valued at $2,042,000 after buying an additional 6,337 shares during the period. Institutional investors own 96.57% of the company’s stock.
A number of research firms recently weighed in on CYH. Barclays PLC decreased their target price on Community Health Systems from $32.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 1st. Raymond James Financial Inc. downgraded Community Health Systems from a “market perform” rating to an “underperform” rating in a research report on Wednesday, June 1st. Vetr downgraded Community Health Systems from a “strong-buy” rating to a “buy” rating and set a $12.50 target price on the stock. in a research report on Wednesday, September 7th. Jefferies Group reissued a “hold” rating on shares of Community Health Systems in a research report on Wednesday, August 10th. Finally, Zacks Investment Research downgraded Community Health Systems from a “hold” rating to a “sell” rating in a research report on Monday, August 8th. Six investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $16.32.
About Community Health Systems
Community Health Systems, Inc is an operator of general acute care hospitals in communities. The Company provides healthcare services through the hospitals that it owns and operates and affiliated businesses in non-urban and selected urban markets throughout the United States. The Company operates through two segments: hospital operations and home care agencies operations.
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