ValuEngine Upgrades Community Health Systems (NYSE:CYH) to “Buy”

ValuEngine upgraded shares of Community Health Systems (NYSE:CYH) from a hold rating to a buy rating in a report issued on Thursday morning, ValuEngine reports.

A number of other brokerages have also commented on CYH. Zacks Investment Research lowered shares of Community Health Systems from a buy rating to a hold rating in a report on Wednesday, April 24th. Barclays set a $3.00 price target on shares of Community Health Systems and gave the stock a sell rating in a report on Wednesday, April 17th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $3.55.

Shares of NYSE:CYH traded down $0.06 during trading on Thursday, reaching $1.94. The company had a trading volume of 2,693,997 shares, compared to its average volume of 2,283,601. The company has a fifty day moving average price of $2.45. Community Health Systems has a 12 month low of $1.92 and a 12 month high of $5.35.

In other Community Health Systems news, Director James S. Ely III acquired 50,000 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was bought at an average price of $3.15 per share, with a total value of $157,500.00. Following the purchase, the director now owns 136,320 shares of the company’s stock, valued at $429,408. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Wayne T. Smith acquired 993,449 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was acquired at an average cost of $3.37 per share, with a total value of $3,347,923.13. Following the purchase, the chief executive officer now directly owns 1,959,566 shares in the company, valued at approximately $6,603,737.42. The disclosure for this purchase can be found here. Insiders bought a total of 1,097,449 shares of company stock worth $3,680,603 in the last three months. Insiders own 4.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Community Health Systems by 8.6% in the fourth quarter. BlackRock Inc. now owns 17,024,671 shares of the company’s stock worth $48,008,000 after buying an additional 1,346,891 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Community Health Systems by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,355,266 shares of the company’s stock worth $3,822,000 after buying an additional 19,575 shares during the last quarter. Advisor Group Inc. lifted its position in shares of Community Health Systems by 16,421.9% in the fourth quarter. Advisor Group Inc. now owns 50,557 shares of the company’s stock worth $142,000 after buying an additional 50,251 shares during the last quarter. Northern Trust Corp lifted its position in shares of Community Health Systems by 2.8% in the fourth quarter. Northern Trust Corp now owns 1,232,646 shares of the company’s stock worth $3,477,000 after buying an additional 33,496 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Community Health Systems by 10.1% in the fourth quarter. Geode Capital Management LLC now owns 1,153,879 shares of the company’s stock worth $3,253,000 after buying an additional 106,224 shares during the last quarter. 98.55% of the stock is owned by institutional investors.

About Community Health Systems

Community Health Systems, Inc, together with its subsidiaries, owns, leases, and operates general acute care hospitals in the United States. The company 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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