Tian Qiao Chen Purchases 929,813 Shares of Community Health Systems Inc. (CYH) Stock
Community Health Systems Inc. (NYSE:CYH) major shareholder Tian Qiao Chen purchased 929,813 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The shares were acquired at an average price of $10.27 per share, for a total transaction of $9,549,179.51. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Community Health Systems Inc. (NYSE:CYH) opened at 11.14 on Friday. Community Health Systems Inc. has a one year low of $9.66 and a one year high of $37.56. The stock has a 50 day moving average price of $10.69 and a 200 day moving average price of $13.18. The company’s market cap is $1.24 billion.
Community Health Systems (NYSE:CYH) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.56 by $0.47. Community Health Systems had a positive return on equity of 2.10% and a negative net margin of 7.55%. The business earned $4.59 billion during the quarter, compared to the consensus estimate of $4.53 billion. Community Health Systems’s revenue for the quarter was down 6.0% compared to the same quarter last year. On average, equities analysts anticipate that Community Health Systems Inc. will post $1.34 EPS for the current fiscal year.
CYH has been the topic of a number of research analyst reports. Vetr lowered Community Health Systems from a “strong-buy” rating to a “buy” rating and set a $12.50 price target on the stock. in a research report on Tuesday, September 13th. Leerink Swann lowered Community Health Systems from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $21.00 to $13.00 in a research report on Tuesday, August 9th. Morgan Stanley reaffirmed a “sell” rating and set a $15.00 price objective on shares of Community Health Systems in a report on Wednesday, August 3rd. Citigroup Inc. reduced their price objective on Community Health Systems from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, August 5th. Finally, Zacks Investment Research downgraded Community Health Systems from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 16th. Six investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $16.32.
A number of institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP purchased a new position in Community Health Systems during the first quarter valued at about $157,109,000. Systematic Financial Management LP purchased a new position in Community Health Systems during the second quarter valued at about $1,571,000. BNP Paribas Arbitrage SA raised its position in Community Health Systems by 240.9% in the second quarter. BNP Paribas Arbitrage SA now owns 79,244 shares of the company’s stock valued at $955,000 after buying an additional 56,001 shares during the last quarter. Acadian Asset Management LLC raised its position in Community Health Systems by 57.1% in the first quarter. Acadian Asset Management LLC now owns 41,343 shares of the company’s stock valued at $766,000 after buying an additional 15,031 shares during the last quarter. Finally, Teachers Advisors Inc. raised its position in Community Health Systems by 6.1% in the first quarter. Teachers Advisors Inc. now owns 110,325 shares of the company’s stock valued at $2,042,000 after buying an additional 6,337 shares during the last quarter. Institutional investors and hedge funds own 96.57% of the company’s stock.
About Community Health Systems
Community Health Systems, Inc is an operator of general acute care hospitals in communities. The Company provides healthcare services through the hospitals that it owns and operates and affiliated businesses in non-urban and selected urban markets throughout the United States. The Company operates through two segments: hospital operations and home care agencies operations.
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