Wayne T. Smith Buys 200,000 Shares of Community Health Systems, Inc. (NYSE:CYH) Stock

Community Health Systems, Inc. (NYSE:CYHGet Rating) Chairman Wayne T. Smith bought 200,000 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were acquired at an average cost of $3.00 per share, with a total value of $600,000.00. Following the acquisition, the chairman now directly owns 3,259,196 shares of the company’s stock, valued at $9,777,588. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Community Health Systems Stock Performance

Shares of CYH opened at $3.50 on Thursday. The stock has a market capitalization of $471.50 million, a PE ratio of -10.29 and a beta of 1.76. Community Health Systems, Inc. has a 1 year low of $2.81 and a 1 year high of $15.29. The company’s 50-day simple moving average is $4.29 and its 200-day simple moving average is $8.42.

Community Health Systems (NYSE:CYHGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($2.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($2.51). The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.14 billion. Community Health Systems had a negative return on equity of 20.58% and a negative net margin of 0.31%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.23 EPS. On average, sell-side analysts predict that Community Health Systems, Inc. will post -1.9 earnings per share for the current year.

Institutional Trading of Community Health Systems

Large investors have recently made changes to their positions in the company. Ellis Investment Partners LLC increased its stake in shares of Community Health Systems by 109.1% during the second quarter. Ellis Investment Partners LLC now owns 9,200 shares of the company’s stock worth $34,000 after buying an additional 4,800 shares during the period. KBC Group NV purchased a new stake in shares of Community Health Systems during the second quarter worth approximately $44,000. Red Door Wealth Management LLC purchased a new stake in shares of Community Health Systems during the second quarter worth approximately $47,000. Captrust Financial Advisors increased its stake in shares of Community Health Systems by 195.5% during the first quarter. Captrust Financial Advisors now owns 5,794 shares of the company’s stock worth $69,000 after buying an additional 3,833 shares during the period. Finally, Range Financial Group LLC increased its stake in shares of Community Health Systems by 35.9% during the second quarter. Range Financial Group LLC now owns 19,546 shares of the company’s stock worth $73,000 after buying an additional 5,164 shares during the period. 78.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Loop Capital assumed coverage on shares of Community Health Systems in a report on Thursday, June 16th. They issued a “hold” rating and a $5.00 price objective for the company. StockNews.com lowered shares of Community Health Systems from a “hold” rating to a “sell” rating in a report on Friday, July 29th. TheStreet lowered shares of Community Health Systems from a “c-” rating to a “d” rating in a report on Thursday, July 28th. Citigroup dropped their price objective on shares of Community Health Systems from $18.00 to $14.00 in a report on Friday, April 29th. Finally, Oppenheimer decreased their target price on shares of Community Health Systems from $16.00 to $6.00 and set a “maintains” rating on the stock in a research report on Friday, July 29th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $9.19.

Community Health Systems Company Profile

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Community Health Systems, Inc owns, leases, and operates general acute care hospitals in the United States. It 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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