Community Health Systems (NYSE:CYH) fell 8.3% during trading on Wednesday . The company traded as low as $4.03 and last traded at $4.11. 4,094,039 shares were traded during trading, an increase of 26% from the average session volume of 3,251,520 shares. The stock had previously closed at $4.48.
A number of brokerages have commented on CYH. Zacks Investment Research upgraded Community Health Systems from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 26th. SunTrust Banks set a $7.00 price objective on Community Health Systems and gave the stock a “hold” rating in a report on Sunday, October 15th. Robert W. Baird restated a “hold” rating and set a $7.00 price objective on shares of Community Health Systems in a report on Wednesday, October 4th. KeyCorp restated a “hold” rating on shares of Community Health Systems in a report on Thursday, September 7th. Finally, Cantor Fitzgerald restated a “hold” rating and set a $6.00 price objective on shares of Community Health Systems in a report on Sunday, November 5th. Eight research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $6.26.
The firm has a market cap of $477.84, a price-to-earnings ratio of -0.73 and a beta of 1.42. The company has a debt-to-equity ratio of 10.62, a current ratio of 2.05 and a quick ratio of 1.86.
In other news, major shareholder Tian Qiao Chen bought 100,164 shares of Community Health Systems stock in a transaction that occurred on Thursday, December 7th. The shares were purchased at an average price of $3.96 per share, for a total transaction of $396,649.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.70% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. FrontFour Capital Group LLC acquired a new position in Community Health Systems in the third quarter valued at $113,000. California Public Employees Retirement System raised its position in Community Health Systems by 11.3% in the third quarter. California Public Employees Retirement System now owns 1,645,329 shares of the company’s stock valued at $12,636,000 after purchasing an additional 167,633 shares during the period. Group One Trading L.P. raised its position in Community Health Systems by 345.2% in the third quarter. Group One Trading L.P. now owns 65,727 shares of the company’s stock valued at $505,000 after purchasing an additional 50,962 shares during the period. Pentwater Capital Management LP raised its position in Community Health Systems by 140.0% in the third quarter. Pentwater Capital Management LP now owns 240,000 shares of the company’s stock valued at $1,843,000 after purchasing an additional 140,000 shares during the period. Finally, Vident Investment Advisory LLC purchased a new position in Community Health Systems in the third quarter valued at about $2,327,000. Hedge funds and other institutional investors own 94.72% of the company’s stock.
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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