Community Health Systems (NYSE:CYH) Stock Price Down 5.1%

Community Health Systems (NYSE:CYH)’s share price traded down 5.1% during trading on Friday . The stock traded as low as $2.58 and last traded at $2.60. 1,322,355 shares changed hands during trading, a decline of 35% from the average session volume of 2,045,932 shares. The stock had previously closed at $2.74.

Several research firms have recently issued reports on CYH. ValuEngine raised shares of Community Health Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 5th. Morgan Stanley set a $4.00 price objective on shares of Community Health Systems and gave the stock a “sell” rating in a research report on Friday, February 22nd. Barclays set a $4.00 price objective on shares of Community Health Systems and gave the stock a “sell” rating in a research report on Friday, February 22nd. Finally, Zacks Investment Research raised shares of Community Health Systems from a “hold” rating to a “buy” rating and set a $4.75 price objective for the company in a research report on Tuesday, March 26th. Five equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. The stock has an average rating of “Hold” and an average price target of $3.61.

The stock has a market capitalization of $319.95 million, a PE ratio of -1.34 and a beta of 2.53.

Community Health Systems (NYSE:CYH) last released its quarterly earnings data on Tuesday, April 30th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.09). The firm had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.30 billion. During the same period in the prior year, the firm earned $0.13 earnings per share. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. Equities analysts predict that Community Health Systems will post -1.66 EPS for the current year.

In other news, CEO Wayne T. Smith bought 323,084 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was acquired at an average cost of $3.32 per share, for a total transaction of $1,072,638.88. Following the completion of the purchase, the chief executive officer now owns 1,959,566 shares of the company’s stock, valued at $6,505,759.12. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James S. Ely III bought 50,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was purchased at an average price of $3.15 per share, with a total value of $157,500.00. Following the completion of the purchase, the director now directly owns 136,320 shares of the company’s stock, valued at approximately $429,408. The disclosure for this purchase can be found here. Insiders bought 1,420,533 shares of company stock valued at $4,753,242 over the last 90 days. Insiders own 4.50% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Ausdal Financial Partners Inc. purchased a new position in shares of Community Health Systems in the fourth quarter valued at $28,000. Menta Capital LLC purchased a new position in shares of Community Health Systems in the fourth quarter valued at $29,000. HHM Wealth Advisors LLC purchased a new position in shares of Community Health Systems in the fourth quarter valued at $38,000. Oregon Public Employees Retirement Fund purchased a new position in shares of Community Health Systems in the fourth quarter valued at $44,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Community Health Systems in the first quarter valued at $45,000. Institutional investors and hedge funds own 98.36% of the company’s stock.

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Community Health Systems Company Profile (NYSE:CYH)

Community Health Systems, Inc, together with its subsidiaries, owns, leases, and operates general acute care hospitals in the United States. The company 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.

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