California Public Employees Retirement System Purchases 367,800 Shares of Community Health Systems, Inc. (CYH)

California Public Employees Retirement System raised its stake in Community Health Systems, Inc. (NYSE:CYH) by 30.4% during the first quarter, Holdings Channel reports. The firm owned 1,578,896 shares of the company’s stock after buying an additional 367,800 shares during the period. California Public Employees Retirement System’s holdings in Community Health Systems were worth $14,005,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. acquired a new position in shares of Community Health Systems during the fourth quarter valued at $606,000. New York State Teachers Retirement System increased its position in shares of Community Health Systems by 19.4% in the fourth quarter. New York State Teachers Retirement System now owns 238,900 shares of the company’s stock valued at $1,335,000 after buying an additional 38,820 shares during the period. Nationwide Fund Advisors increased its position in shares of Community Health Systems by 214.9% in the first quarter. Nationwide Fund Advisors now owns 238,001 shares of the company’s stock valued at $2,111,000 after buying an additional 162,431 shares during the period. State of Tennessee Treasury Department increased its position in shares of Community Health Systems by 138.4% in the first quarter. State of Tennessee Treasury Department now owns 217,398 shares of the company’s stock valued at $1,929,000 after buying an additional 126,208 shares during the period. Finally, UBS Asset Management Americas Inc. increased its position in shares of Community Health Systems by 47.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 271,332 shares of the company’s stock valued at $1,516,000 after buying an additional 87,876 shares during the period. Hedge funds and other institutional investors own 95.76% of the company’s stock.

Institutional Ownership by Quarter for Community Health Systems (NYSE:CYH)

Shares of Community Health Systems, Inc. (NYSE CYH) traded down 2.52% during trading on Tuesday, hitting $8.90. The stock had a trading volume of 396,228 shares. The stock’s 50-day moving average is $9.32 and its 200-day moving average is $7.99. Community Health Systems, Inc. has a 12-month low of $4.15 and a 12-month high of $13.90. The stock’s market cap is $995.91 million.

Community Health Systems (NYSE:CYH) last announced its earnings results on Monday, May 1st. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. Community Health Systems had a negative net margin of 10.77% and a positive return on equity of 1.79%. The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter in the prior year, the firm earned $0.27 earnings per share. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. On average, equities research analysts expect that Community Health Systems, Inc. will post $0.38 EPS for the current year.

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CYH has been the topic of several research analyst reports. Vetr upgraded Community Health Systems from a “strong sell” rating to a “sell” rating and set a $7.83 target price on the stock in a research note on Tuesday, March 21st. Piper Jaffray Companies downgraded Community Health Systems from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $10.00 to $7.00 in a research note on Wednesday, March 1st. Deutsche Bank AG initiated coverage on Community Health Systems in a research note on Wednesday, April 5th. They set a “hold” rating and a $11.00 target price on the stock. Robert W. Baird upgraded Community Health Systems from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $5.00 to $9.00 in a research note on Wednesday, February 22nd. Finally, Cantor Fitzgerald boosted their target price on Community Health Systems from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 22nd. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $8.46.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “CYH”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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