Community Health Systems (CYH) Sets New 52-Week Low at $2.58

Share on StockTwits

Community Health Systems (NYSE:CYH) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $2.58 and last traded at $2.66, with a volume of 2635325 shares traded. The stock had previously closed at $2.80.

Several research analysts have commented on the stock. Morgan Stanley dropped their price objective on shares of Community Health Systems from $3.50 to $3.00 and set an “underweight” rating for the company in a research note on Thursday, August 16th. Jefferies Financial Group reaffirmed a “hold” rating and set a $4.00 price objective on shares of Community Health Systems in a research note on Friday, July 27th. ValuEngine raised shares of Community Health Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Bank of America dropped their price objective on shares of Community Health Systems from $4.50 to $4.00 and set an “underperform” rating for the company in a research note on Friday, July 27th. Finally, Barclays assumed coverage on shares of Community Health Systems in a research note on Tuesday, August 14th. They set an “underweight” rating and a $3.00 price objective for the company. Nine research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $3.93.

The stock has a market capitalization of $402.24 million, a price-to-earnings ratio of -2.18 and a beta of 1.69. The company has a quick ratio of 1.58, a current ratio of 1.79 and a debt-to-equity ratio of -17.03.

Community Health Systems (NYSE:CYH) last released its earnings results on Thursday, July 26th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.42. Community Health Systems had a negative return on equity of 36.38% and a negative net margin of 16.16%. The business had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same period last year, the company earned ($0.25) earnings per share. The business’s revenue for the quarter was down 14.0% compared to the same quarter last year. Equities analysts expect that Community Health Systems will post -1.49 EPS for the current fiscal year.

In other Community Health Systems news, insider Patton Paul Smith bought 10,000 shares of the firm’s stock in a transaction dated Monday, August 20th. The stock was acquired at an average cost of $3.51 per share, for a total transaction of $35,100.00. Following the completion of the transaction, the insider now owns 103,417 shares in the company, valued at $362,993.67. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Over the last quarter, insiders have bought 25,000 shares of company stock valued at $83,350. Corporate insiders own 3.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Paloma Partners Management Co lifted its position in shares of Community Health Systems by 250.0% during the second quarter. Paloma Partners Management Co now owns 35,000 shares of the company’s stock worth $116,000 after purchasing an additional 25,000 shares during the last quarter. Element Capital Management LLC bought a new stake in shares of Community Health Systems during the first quarter worth $199,000. Aperio Group LLC lifted its position in shares of Community Health Systems by 110.0% during the first quarter. Aperio Group LLC now owns 58,164 shares of the company’s stock worth $230,000 after purchasing an additional 30,467 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of Community Health Systems by 885.5% during the first quarter. Cubist Systematic Strategies LLC now owns 84,494 shares of the company’s stock worth $335,000 after purchasing an additional 75,920 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Community Health Systems by 43.9% during the second quarter. Canada Pension Plan Investment Board now owns 102,000 shares of the company’s stock worth $339,000 after purchasing an additional 31,100 shares during the last quarter. Institutional investors and hedge funds own 97.55% of the company’s stock.

About Community Health Systems (NYSE:CYH)

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

Featured Story: Trading Strategy Examples and Plans

Receive News & Ratings for Community Health Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Community Health Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply