Insider Buying: Community Health Systems (CYH) Major Shareholder Purchases 406,069 Shares of Stock

Community Health Systems (NYSE:CYH) major shareholder Tian Qiao Chen acquired 406,069 shares of the business’s stock in a transaction dated Thursday, December 21st. The stock was acquired at an average price of $4.00 per share, for a total transaction of $1,624,276.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Tian Qiao Chen also recently made the following trade(s):

  • On Wednesday, January 10th, Tian Qiao Chen acquired 995,551 shares of Community Health Systems stock. The stock was acquired at an average price of $3.97 per share, for a total transaction of $3,952,337.47.
  • On Monday, January 8th, Tian Qiao Chen acquired 478,700 shares of Community Health Systems stock. The stock was acquired at an average price of $3.98 per share, for a total transaction of $1,905,226.00.
  • On Thursday, December 7th, Tian Qiao Chen acquired 100,164 shares of Community Health Systems stock. The stock was acquired at an average price of $3.96 per share, for a total transaction of $396,649.44.

Community Health Systems (NYSE CYH) opened at $5.15 on Friday. Community Health Systems has a one year low of $3.85 and a one year high of $10.51. 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 (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.47). The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.70 billion. Community Health Systems had a negative net margin of 3.97% and a negative return on equity of 3.10%. The firm’s quarterly revenue was down 16.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.35) EPS. equities research analysts predict that Community Health Systems will post -1.25 earnings per share for the current fiscal year.

A number of brokerages have recently weighed in on CYH. Zacks Investment Research lowered Community Health Systems from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 3rd. Robert W. Baird restated a “hold” rating and set a $7.00 price target on shares of Community Health Systems in a research report on Wednesday, October 4th. ValuEngine lowered Community Health Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Mizuho restated a “hold” rating and set a $7.00 price target on shares of Community Health Systems in a research report on Thursday, October 12th. Finally, Jefferies Group restated a “hold” rating and set a $7.00 price target on shares of Community Health Systems in a research report on Thursday, October 12th. Eight research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $6.21.

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Community Health Systems by 4.3% during the second quarter. Vanguard Group Inc. now owns 10,377,548 shares of the company’s stock valued at $103,361,000 after buying an additional 424,006 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Community Health Systems by 31.3% during the third quarter. Dimensional Fund Advisors LP now owns 6,508,663 shares of the company’s stock valued at $49,986,000 after buying an additional 1,551,499 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Community Health Systems by 226.4% during the third quarter. JPMorgan Chase & Co. now owns 4,228,000 shares of the company’s stock valued at $31,880,000 after buying an additional 2,932,700 shares during the last quarter. Royce & Associates LP raised its stake in Community Health Systems by 10.0% during the third quarter. Royce & Associates LP now owns 2,482,295 shares of the company’s stock valued at $19,064,000 after buying an additional 226,500 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in Community Health Systems by 11.3% during the third quarter. California Public Employees Retirement System now owns 1,645,329 shares of the company’s stock valued at $12,636,000 after buying an additional 167,633 shares during the last quarter. Institutional investors and hedge funds own 94.72% of the company’s stock.

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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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