Saba Capital Management L.P. lifted its holdings in Community Health Systems (NYSE:CYH) by 8.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,375,578 shares of the company’s stock after purchasing an additional 547,371 shares during the period. Community Health Systems makes up 1.6% of Saba Capital Management L.P.’s holdings, making the stock its 8th biggest holding. Saba Capital Management L.P. owned approximately 6.34% of Community Health Systems worth $29,207,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CYH. Bank of Montreal Can grew its holdings in shares of Community Health Systems by 882.1% in the fourth quarter. Bank of Montreal Can now owns 37,084 shares of the company’s stock valued at $158,000 after purchasing an additional 33,308 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Community Health Systems in the fourth quarter valued at approximately $162,000. California Public Employees Retirement System grew its holdings in shares of Community Health Systems by 10.6% in the fourth quarter. California Public Employees Retirement System now owns 1,820,003 shares of the company’s stock valued at $7,753,000 after purchasing an additional 174,674 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Community Health Systems by 60.7% in the fourth quarter. Wells Fargo & Company MN now owns 186,665 shares of the company’s stock valued at $796,000 after purchasing an additional 70,538 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Community Health Systems by 224.1% in the fourth quarter. Arizona State Retirement System now owns 192,826 shares of the company’s stock valued at $821,000 after purchasing an additional 133,326 shares in the last quarter. Hedge funds and other institutional investors own 98.79% of the company’s stock.

NYSE CYH opened at $4.37 on Thursday. The company has a quick ratio of 1.57, a current ratio of 1.76 and a debt-to-equity ratio of -19.76. Community Health Systems has a 52 week low of $3.69 and a 52 week high of $10.18. The company has a market cap of $517.52 million, a price-to-earnings ratio of -3.64 and a beta of 1.60.

Community Health Systems (NYSE:CYH) last posted its quarterly earnings results on Tuesday, May 1st. The company reported $0.13 EPS for the quarter, topping the consensus estimate of ($0.14) by $0.27. Community Health Systems had a negative net margin of 15.70% and a negative return on equity of 36.38%. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter in the previous year, the business posted $0.07 EPS. The firm’s revenue was down 17.8% on a year-over-year basis. research analysts expect that Community Health Systems will post -1.17 EPS for the current fiscal year.

CYH has been the subject of a number of research reports. Zacks Investment Research cut shares of Community Health Systems from a “hold” rating to a “sell” rating in a report on Wednesday, February 28th. Jefferies Financial Group set a $5.00 price objective on shares of Community Health Systems and gave the company a “hold” rating in a report on Tuesday, March 6th. ValuEngine upgraded shares of Community Health Systems from a “strong sell” rating to a “sell” rating in a report on Monday, March 19th. Mizuho restated a “hold” rating and issued a $4.50 price objective on shares of Community Health Systems in a report on Thursday, March 22nd. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $6.00 price objective on shares of Community Health Systems in a report on Tuesday, May 1st. Eight research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. Community Health Systems currently has a consensus rating of “Hold” and a consensus price target of $5.87.

Community Health Systems Company Profile

Community Health Systems, Inc, together with its subsidiaries, 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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