D. E. Shaw & Co. Inc. Purchases 346,624 Shares of Community Health Systems, Inc. (NYSE:CYH)

D. E. Shaw & Co. Inc. raised its position in shares of Community Health Systems, Inc. (NYSE:CYH) by 12.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,064,769 shares of the company’s stock after purchasing an additional 346,624 shares during the period. D. E. Shaw & Co. Inc. owned 2.32% of Community Health Systems worth $41,436,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Sowell Financial Services LLC bought a new position in shares of Community Health Systems in the first quarter worth $28,000. Captrust Financial Advisors boosted its holdings in shares of Community Health Systems by 60.6% in the first quarter. Captrust Financial Advisors now owns 2,447 shares of the company’s stock worth $33,000 after acquiring an additional 923 shares during the period. Vantage Consulting Group Inc bought a new position in shares of Community Health Systems in the fourth quarter worth $34,000. Lazard Asset Management LLC boosted its holdings in shares of Community Health Systems by 28.3% in the fourth quarter. Lazard Asset Management LLC now owns 7,229 shares of the company’s stock worth $53,000 after acquiring an additional 1,596 shares during the period. Finally, Walleye Capital LLC bought a new position in shares of Community Health Systems in the fourth quarter worth $102,000. 82.71% of the stock is owned by institutional investors and hedge funds.

NYSE CYH opened at $15.85 on Thursday. The company’s 50-day moving average price is $15.16. Community Health Systems, Inc. has a twelve month low of $3.73 and a twelve month high of $17.04. The stock has a market capitalization of $2.09 billion, a P/E ratio of 6.63, a price-to-earnings-growth ratio of 2.37 and a beta of 1.93.

Community Health Systems (NYSE:CYH) last released its quarterly earnings results on Tuesday, April 27th. The company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.53. The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.98 billion. Community Health Systems had a negative return on equity of 15.87% and a net margin of 3.64%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the business posted ($1.59) earnings per share. Research analysts expect that Community Health Systems, Inc. will post 0.68 earnings per share for the current year.

A number of equities analysts have recently commented on the company. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Community Health Systems in a report on Friday, July 9th. Jefferies Financial Group reiterated a “buy” rating on shares of Community Health Systems in a research report on Friday, June 18th. Royal Bank of Canada upgraded Community Health Systems from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $12.00 to $21.00 in a research report on Thursday, June 10th. Truist increased their price objective on Community Health Systems from $9.00 to $12.00 in a research report on Wednesday, April 14th. Finally, Credit Suisse Group upgraded Community Health Systems from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $4.10 to $10.00 in a research report on Friday, April 30th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Community Health Systems has a consensus rating of “Hold” and a consensus target price of $14.50.

In other news, Director William Norris Jennings sold 30,000 shares of Community Health Systems stock in a transaction dated Tuesday, June 1st. The stock was sold at an average price of $15.51, for a total value of $465,300.00. Following the transaction, the director now owns 67,112 shares in the company, valued at $1,040,907.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John A. Fry sold 31,500 shares of Community Health Systems stock in a transaction dated Wednesday, June 9th. The stock was sold at an average price of $15.55, for a total value of $489,825.00. Following the completion of the transaction, the director now owns 106,630 shares in the company, valued at approximately $1,658,096.50. The disclosure for this sale can be found here. 7.10% of the stock is currently owned by insiders.

About Community Health Systems

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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Institutional Ownership by Quarter for Community Health Systems (NYSE:CYH)

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