Other research analysts have also recently issued reports about the company. Zacks Investment Research raised Community Health Systems from a hold rating to a buy rating and set a $11.00 price objective on the stock in a research note on Tuesday, July 11th. Royal Bank Of Canada reaffirmed a hold rating and set a $7.00 price objective on shares of Community Health Systems in a research note on Friday, August 4th. Deutsche Bank AG reduced their price objective on Community Health Systems from $13.00 to $8.00 and set a hold rating on the stock in a research note on Thursday, August 3rd. BidaskClub raised Community Health Systems from a sell rating to a hold rating in a research note on Tuesday, June 27th. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $7.00 price objective on shares of Community Health Systems in a research note on Sunday, July 30th. Seven analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $7.52.
Shares of Community Health Systems (NYSE CYH) opened at 5.98 on Friday. Community Health Systems has a 12 month low of $4.15 and a 12 month high of $10.67. The company’s market cap is $669.37 million. The company’s 50-day moving average price is $7.13 and its 200-day moving average price is $8.30.
Community Health Systems (NYSE:CYH) last announced its quarterly earnings data on Tuesday, August 1st. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.31). Community Health Systems had a negative net margin of 3.63% and a positive return on equity of 0.07%. The company had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same period last year, the business posted $0.09 earnings per share. The firm’s quarterly revenue was down 9.7% compared to the same quarter last year. Analysts anticipate that Community Health Systems will post ($0.37) EPS for the current year.
In other news, major shareholder Tian Qiao Chen acquired 9,766,897 shares of the business’s stock in a transaction on Monday, August 14th. The shares were acquired at an average cost of $7.27 per share, with a total value of $71,005,341.19. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.70% of the company’s stock.
A number of institutional investors have recently bought and sold shares of CYH. Alps Advisors Inc. bought a new stake in Community Health Systems during the 2nd quarter valued at approximately $107,000. Shelton Capital Management bought a new stake in Community Health Systems during the 2nd quarter valued at approximately $110,000. Fox Run Management L.L.C. bought a new stake in Community Health Systems during the 2nd quarter valued at approximately $126,000. Nomura Asset Management Co. Ltd. boosted its position in Community Health Systems by 134.4% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 14,300 shares of the company’s stock valued at $127,000 after acquiring an additional 8,200 shares in the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in Community Health Systems by 168.4% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 16,417 shares of the company’s stock valued at $146,000 after acquiring an additional 10,300 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.
About Community Health Systems
Community Health Systems, Inc is an operator of general acute care hospitals and outpatient facilities in communities across the country. The Company operates through hospital operations segment, which includes its general acute care hospitals and related healthcare entities that provide inpatient and outpatient healthcare services.
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