Wayne T. Smith Acquires 993,449 Shares of Community Health Systems (NYSE:CYH) Stock

Community Health Systems (NYSE:CYH) CEO Wayne T. Smith acquired 993,449 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were bought at an average price of $3.37 per share, for a total transaction of $3,347,923.13. Following the purchase, the chief executive officer now directly owns 1,959,566 shares of the company’s stock, valued at $6,603,737.42. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of NYSE:CYH traded down $0.12 during trading on Thursday, reaching $2.81. 2,169,290 shares of the company traded hands, compared to its average volume of 2,056,442. The firm has a market capitalization of $362.45 million, a P/E ratio of -1.45 and a beta of 2.52. Community Health Systems has a 1-year low of $2.48 and a 1-year high of $5.35.

Community Health Systems (NYSE:CYH) last released its quarterly earnings data on Tuesday, April 30th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.09). The company had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.30 billion. During the same period in the previous year, the firm posted $0.13 earnings per share. The company’s revenue was down 8.5% compared to the same quarter last year. Sell-side analysts expect that Community Health Systems will post -1.66 earnings per share for the current year.

Several research analysts have issued reports on CYH shares. Barclays set a $3.00 price target on shares of Community Health Systems and gave the stock a “sell” rating in a research report on Wednesday, April 17th. ValuEngine upgraded shares of Community Health Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 5th. Zacks Investment Research lowered shares of Community Health Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Finally, Morgan Stanley set a $4.00 price objective on shares of Community Health Systems and gave the stock a “sell” rating in a research note on Friday, February 22nd. Five research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $3.61.

Several hedge funds have recently added to or reduced their stakes in the stock. Ausdal Financial Partners Inc. bought a new position in Community Health Systems in the 4th quarter worth $28,000. Menta Capital LLC bought a new position in Community Health Systems in the 4th quarter worth $29,000. HHM Wealth Advisors LLC bought a new position in Community Health Systems in the 4th quarter worth $38,000. Oregon Public Employees Retirement Fund bought a new position in Community Health Systems in the 4th quarter worth $44,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Community Health Systems in the 1st quarter worth $45,000. 98.36% of the stock is owned by institutional investors and hedge funds.

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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. 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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