Community Health Systems (NYSE:CYH) saw unusually-high trading volume on Friday after an insider bought additional shares in the company. Approximately 11,625,600 shares traded hands during trading, an increase of 194% from the previous session’s volume of 3,958,325 shares.The stock last traded at $4.97 and had previously closed at $4.02.
Specifically, major shareholder Tian Qiao Chen bought 995,551 shares of the stock in a transaction dated Wednesday, January 10th. The shares were bought at an average cost of $3.97 per share, for a total transaction of $3,952,337.47. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have bought a total of 1,980,484 shares of company stock worth $7,878,489 over the last quarter. Company insiders own 4.70% of the company’s stock.
CYH has been the topic of a number of recent analyst reports. ValuEngine cut Community Health Systems from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 7th. Morgan Stanley lowered their target price on Community Health Systems from $6.50 to $4.50 and set an “underweight” rating on the stock in a research note on Friday, November 3rd. Credit Suisse Group assumed coverage on Community Health Systems in a report on Thursday, November 2nd. They issued an “underperform” rating and a $3.50 price objective for the company. JPMorgan Chase & Co. lowered Community Health Systems from a “neutral” rating to an “underweight” rating in a report on Thursday, December 14th. Finally, Citigroup decreased their price objective on Community Health Systems from $7.00 to $5.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. Eight investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $6.21.
The firm has a market cap of $590.84, a price-to-earnings ratio of -0.88 and a beta of 1.42. The company has a debt-to-equity ratio of 10.62, a current ratio of 2.05 and a quick ratio of 1.86.
Community Health Systems (NYSE:CYH) last announced its quarterly earnings data on Wednesday, November 1st. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.47). The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.70 billion. Community Health Systems had a negative return on equity of 3.10% and a negative net margin of 3.97%. The company’s revenue was down 16.3% compared to the same quarter last year. During the same period last year, the business posted ($0.35) EPS. equities analysts predict that Community Health Systems will post -1.25 EPS for the current year.
Hedge funds have recently bought and sold shares of the business. Shelton Capital Management purchased a new position in Community Health Systems during the 2nd quarter valued at about $110,000. FrontFour Capital Group LLC purchased a new position in Community Health Systems during the 3rd quarter valued at about $113,000. Group One Trading L.P. grew its holdings in Community Health Systems by 27.5% during the 2nd quarter. Group One Trading L.P. now owns 14,765 shares of the company’s stock valued at $147,000 after buying an additional 3,189 shares in the last quarter. ARP Americas LLC purchased a new position in Community Health Systems during the 3rd quarter valued at about $121,000. Finally, HighTower Advisors LLC grew its holdings in Community Health Systems by 0.3% during the 2nd quarter. HighTower Advisors LLC now owns 17,203 shares of the company’s stock valued at $170,000 after buying an additional 51 shares in the last quarter. 94.72% of the stock is owned by institutional investors and hedge funds.
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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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