Insider Buying: Community Health Systems (NYSE:CYH) EVP Buys 25,000 Shares of Stock

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Community Health Systems (NYSE:CYH) EVP Benjamin C. Fordham bought 25,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was acquired at an average cost of $1.85 per share, for a total transaction of $46,250.00. Following the acquisition, the executive vice president now directly owns 184,416 shares in the company, valued at $341,169.60. The transaction was disclosed in a filing with the SEC, which is available through this link.

CYH traded down $0.05 during midday trading on Tuesday, reaching $1.81. The company’s stock had a trading volume of 2,163,902 shares, compared to its average volume of 2,124,341. The stock has a market cap of $221.94 million, a P/E ratio of -0.94 and a beta of 2.43. The company has a fifty day simple moving average of $2.17 and a 200 day simple moving average of $3.20. Community Health Systems has a twelve month low of $1.79 and a twelve month high of $5.35.

Community Health Systems (NYSE:CYH) last released its earnings results on Monday, August 5th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.52) by $0.05. The business had revenue of $3.30 billion during the quarter, compared to analyst estimates of $3.20 billion. The business’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same period last year, the business earned ($0.01) EPS. As a group, sell-side analysts expect that Community Health Systems will post -1.8 earnings per share for the current year.

Large investors have recently made changes to their positions in the company. Balyasny Asset Management LLC acquired a new stake in shares of Community Health Systems during the 2nd quarter worth approximately $29,000. Royal Bank of Canada grew its holdings in shares of Community Health Systems by 72.6% during the 2nd quarter. Royal Bank of Canada now owns 12,377 shares of the company’s stock worth $33,000 after purchasing an additional 5,205 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Community Health Systems during the 1st quarter worth approximately $55,000. FNY Investment Advisers LLC acquired a new stake in shares of Community Health Systems during the 2nd quarter worth approximately $61,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Community Health Systems during the 1st quarter worth approximately $142,000. 96.62% of the stock is currently owned by institutional investors.

A number of analysts have issued reports on CYH shares. ValuEngine raised Community Health Systems from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Piper Jaffray Companies set a $3.00 target price on Community Health Systems and gave the company a “sell” rating in a report on Wednesday, August 7th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $5.00 target price on shares of Community Health Systems in a report on Thursday, August 8th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Community Health Systems currently has an average rating of “Hold” and an average target price of $3.68.

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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