Systematic Financial Management LP decreased its stake in shares of Community Health Systems, Inc. (NYSE:CYH) by 4.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 171,235 shares of the company’s stock after selling 7,655 shares during the period. Systematic Financial Management LP owned 0.15% of Community Health Systems worth $1,706,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in CYH. Alps Advisors Inc. purchased a new position in Community Health Systems during the second quarter worth $107,000. World Asset Management Inc increased its position in Community Health Systems by 3.2% during the first quarter. World Asset Management Inc now owns 12,377 shares of the company’s stock worth $110,000 after buying an additional 387 shares in the last quarter. Airain ltd purchased a new position in Community Health Systems during the first quarter worth $126,000. Fox Run Management L.L.C. purchased a new position in Community Health Systems during the second quarter worth $126,000. Finally, Nomura Asset Management Co. Ltd. increased its position in Community Health Systems by 134.4% during the first quarter. Nomura Asset Management Co. Ltd. now owns 14,300 shares of the company’s stock worth $127,000 after buying an additional 8,200 shares in the last quarter. 94.71% of the stock is owned by institutional investors.
In related news, major shareholder Tian Qiao Chen bought 9,766,897 shares of Community Health Systems stock in a transaction that occurred on Monday, August 14th. The stock was acquired at an average price of $7.27 per share, for a total transaction of $71,005,341.19. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.70% of the stock is currently owned by company insiders.
Community Health Systems, Inc. (NYSE:CYH) opened at 7.61 on Friday. The company has a 50 day moving average price of $7.17 and a 200 day moving average price of $8.68. The firm’s market cap is $851.83 million. Community Health Systems, Inc. has a 1-year low of $4.15 and a 1-year high of $12.19.
Community Health Systems (NYSE:CYH) last released its quarterly earnings results on Tuesday, August 1st. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.31). Community Health Systems had a negative net margin of 3.63% and a positive return on equity of 0.07%. The firm had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter last year, the company earned $0.09 earnings per share. The firm’s revenue was down 9.7% on a year-over-year basis. On average, equities research analysts forecast that Community Health Systems, Inc. will post ($0.31) earnings per share for the current year.
Several research firms have weighed in on CYH. Morgan Stanley began coverage on Community Health Systems in a research report on Tuesday, June 6th. They set an “underweight” rating and a $9.50 price target for the company. Piper Jaffray Companies reaffirmed a “sell” rating and issued a $9.00 price objective on shares of Community Health Systems in a research report on Wednesday, July 26th. Zacks Investment Research downgraded Community Health Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Deutsche Bank AG lowered their price objective on Community Health Systems from $13.00 to $8.00 and set a “hold” rating for the company in a research report on Thursday, August 3rd. Finally, UBS AG reaffirmed a “neutral” rating and issued a $8.00 price objective (down previously from $10.00) on shares of Community Health Systems in a research report on Wednesday, August 23rd. Six equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the company’s stock. Community Health Systems presently has an average rating of “Hold” and an average target price of $7.84.
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Community Health Systems Profile
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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