Community Health Systems Shares Down 2.5% After Insider Selling (CYH)
Community Health Systems (NYSE:CYH)’s share price fell 2.5% on Thursday after an insider sold shares in the company, Stock Ratings Network.com reports. The stock traded as low as $51.48 and last traded at $51.89, with a volume of 1,459,583 shares changing hands. The stock had previously closed at $53.21.
Specifically, Director William Norris Jennings sold 4,821 shares of Community Health Systems stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $53.80, for a total transaction of $259,369.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
CYH has been the subject of a number of recent research reports. Analysts at Susquehanna raised their price target on shares of Community Health Systems from $55.00 to $62.00 in a research note on Thursday. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Community Health Systems in a research note on Tuesday, August 5th. They now have a $54.00 price target on the stock, up previously from $40.00. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of Community Health Systems in a research note on Tuesday, August 5th. They now have a $56.00 price target on the stock, up previously from $48.00. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $54.87.
The stock has a 50-day moving average of $49.31 and a 200-day moving average of $42.54. The company’s market cap is $5.830 billion.
Community Health Systems (NYSE:CYH) last released its earnings data on Thursday, July 31st. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. The company had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 49.8% on a year-over-year basis. Analysts expect that Community Health Systems will post $3.05 EPS for the current fiscal year.
Community Health Systems, Inc, is an operator of hospitals in the United States. The Company provides healthcare services through the hospitals that it owns and operates in non-urban and selected urban markets throughout the United States.
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