Community Health Systems (NYSE:CYH) has earned a consensus recommendation of “Hold” from the twelve ratings firms that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a sell rating and seven have issued a hold rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $3.50.
CYH has been the subject of several recent research reports. ValuEngine upgraded shares of Community Health Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 5th. Barclays set a $4.00 target price on shares of Community Health Systems and gave the stock a “sell” rating in a research note on Friday, February 22nd. Zacks Investment Research upgraded shares of Community Health Systems from a “hold” rating to a “buy” rating and set a $4.75 target price for the company in a research note on Tuesday, March 26th. Finally, Morgan Stanley set a $4.00 price target on shares of Community Health Systems and gave the stock a “sell” rating in a research report on Friday, February 22nd.
Shares of CYH stock opened at $2.60 on Monday. The company has a market cap of $306.96 million, a PE ratio of -1.34 and a beta of 2.53. Community Health Systems has a 1 year low of $2.48 and a 1 year high of $5.35.
In related news, CEO Wayne T. Smith purchased 993,449 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were purchased at an average cost of $3.37 per share, for a total transaction of $3,347,923.13. Following the completion of the transaction, the chief executive officer now directly owns 1,959,566 shares in the company, valued at approximately $6,603,737.42. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James S. Ely III purchased 50,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were bought at an average price of $3.15 per share, for a total transaction of $157,500.00. Following the completion of the transaction, the director now owns 136,320 shares of the company’s stock, valued at $429,408. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 1,420,533 shares of company stock worth $4,753,242. Insiders own 4.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its stake in shares of Community Health Systems by 8.6% in the 4th quarter. BlackRock Inc. now owns 17,024,671 shares of the company’s stock worth $48,008,000 after acquiring an additional 1,346,891 shares in the last quarter. Royce & Associates LP increased its position in shares of Community Health Systems by 1.1% during the first quarter. Royce & Associates LP now owns 2,664,895 shares of the company’s stock valued at $9,940,000 after buying an additional 30,000 shares during the period. Bank of New York Mellon Corp increased its position in shares of Community Health Systems by 1.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,355,266 shares of the company’s stock valued at $3,822,000 after buying an additional 19,575 shares during the period. Northern Trust Corp increased its position in shares of Community Health Systems by 2.8% during the fourth quarter. Northern Trust Corp now owns 1,232,646 shares of the company’s stock valued at $3,477,000 after buying an additional 33,496 shares during the period. Finally, Geode Capital Management LLC increased 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 purchasing an additional 106,224 shares during the last quarter. Institutional investors and hedge funds own 98.36% of the company’s stock.
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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