Vident Investment Advisory LLC raised its stake in Community Health Systems (NYSE:CYH) by 6.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 322,688 shares of the company’s stock after buying an additional 19,712 shares during the quarter. Vident Investment Advisory LLC’s holdings in Community Health Systems were worth $1,375,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in Community Health Systems by 31.3% in 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. Trustcore Financial Services LLC acquired a new position in shares of Community Health Systems during the fourth quarter valued at $514,000. Schwab Charles Investment Management Inc. increased its holdings in shares of Community Health Systems by 10.9% during the third quarter. Schwab Charles Investment Management Inc. now owns 1,335,909 shares of the company’s stock valued at $10,260,000 after purchasing an additional 131,733 shares during the period. Bank of Montreal Can increased its holdings in shares of Community Health Systems by 882.1% during 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 during the period. Finally, SG Americas Securities LLC increased its holdings in shares of Community Health Systems by 98.5% during the third quarter. SG Americas Securities LLC now owns 191,384 shares of the company’s stock valued at $1,470,000 after purchasing an additional 94,993 shares during the period. Institutional investors own 94.72% of the company’s stock.
CYH has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered Community Health Systems from a “neutral” rating to an “underweight” rating in a report on Thursday, December 14th. Goldman Sachs initiated coverage on Community Health Systems in a report on Wednesday, January 3rd. They set a “sell” rating and a $3.00 price target on the stock. ValuEngine raised Community Health Systems from a “sell” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research raised Community Health Systems from a “sell” rating to a “hold” rating in a report on Wednesday, January 17th. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $6.00 price target on shares of Community Health Systems in a report on Thursday, February 1st. Eight analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company’s stock. Community Health Systems has an average rating of “Hold” and a consensus target price of $5.98.
In other news, major shareholder Tian Qiao Chen bought 406,069 shares of the stock in a transaction that occurred on Thursday, December 21st. The shares were purchased at an average cost of $4.00 per share, with a total value of $1,624,276.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have purchased 1,880,320 shares of company stock worth $7,481,839. 4.70% of the stock is owned by corporate insiders.
CYH stock opened at $4.16 on Wednesday. The stock has a market capitalization of $496.34, a PE ratio of -0.19 and a beta of 1.52. Community Health Systems has a fifty-two week low of $3.85 and a fifty-two week high of $10.51. The company has a current ratio of 1.73, a quick ratio of 1.54 and a debt-to-equity ratio of -20.06.
Community Health Systems (NYSE:CYH) last released its earnings results on Tuesday, February 27th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.09. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.53 billion. Community Health Systems had a negative return on equity of 14.18% and a negative net margin of 16.01%. Community Health Systems’s revenue was down 31.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.46 earnings per share. analysts anticipate that Community Health Systems will post -1.31 EPS for the current year.
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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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