Royce & Associates LP increased its stake in Community Health Systems (NYSE:CYH) by 56.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,299,895 shares of the company’s stock after acquiring an additional 832,500 shares during the period. Royce & Associates LP owned about 1.98% of Community Health Systems worth $7,958,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in CYH. BlackRock Inc. boosted its position in Community Health Systems by 5.8% during the second quarter. BlackRock Inc. now owns 15,839,085 shares of the company’s stock valued at $52,587,000 after buying an additional 872,001 shares during the period. Millennium Management LLC bought a new position in shares of Community Health Systems during the second quarter valued at about $1,618,000. Canada Pension Plan Investment Board raised its stake 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 valued at $339,000 after acquiring an additional 31,100 shares during the last quarter. Paloma Partners Management Co raised its stake 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 valued at $116,000 after acquiring an additional 25,000 shares during the last quarter. Finally, Systematic Financial Management LP raised its stake in shares of Community Health Systems by 23.7% during the third quarter. Systematic Financial Management LP now owns 392,255 shares of the company’s stock valued at $1,357,000 after acquiring an additional 75,130 shares during the last quarter. Institutional investors own 99.28% of the company’s stock.
Several brokerages have recently commented on CYH. Cantor Fitzgerald lowered their price objective on shares of Community Health Systems from $6.00 to $4.00 and set a “neutral” rating for the company in a research note on Wednesday, October 31st. ValuEngine raised shares of Community Health Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. UBS Group began coverage on shares of Community Health Systems in a research note on Thursday, November 15th. They set a “sell” rating and a $2.00 price objective for the company. Morgan Stanley lowered 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. Finally, Zacks Investment Research downgraded shares of Community Health Systems from a “buy” rating to a “hold” rating in a research note on Thursday, October 25th. Eight equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. Community Health Systems currently has an average rating of “Hold” and an average target price of $3.44.
CYH stock opened at $4.62 on Friday. Community Health Systems has a 1 year low of $2.48 and a 1 year high of $6.36. The stock has a market capitalization of $538.40 million, a P/E ratio of -3.85 and a beta of 1.71.
Community Health Systems (NYSE:CYH) last released its quarterly earnings results on Monday, October 29th. The company reported ($1.64) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.02) by ($0.62). Community Health Systems had a negative return on equity of 36.38% and a negative net margin of 17.97%. The company had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same period in the previous year, the company earned ($0.77) earnings per share. Community Health Systems’s quarterly revenue was down 5.9% on a year-over-year basis. On average, analysts anticipate that Community Health Systems will post -2.05 EPS for the current year.
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About Community Health Systems
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.
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