Community Health Systems (NYSE:CYH) – Stock analysts at Piper Jaffray Companies dropped their Q2 2019 EPS estimates for Community Health Systems in a note issued to investors on Wednesday, May 1st, according to Zacks Investment Research. Piper Jaffray Companies analyst S. James now forecasts that the company will earn ($0.43) per share for the quarter, down from their prior estimate of ($0.42). Piper Jaffray Companies also issued estimates for Community Health Systems’ Q3 2019 earnings at ($0.42) EPS, Q4 2019 earnings at ($0.26) EPS, FY2019 earnings at ($1.66) EPS, Q1 2020 earnings at ($0.68) EPS, Q3 2020 earnings at ($0.18) EPS, Q4 2020 earnings at ($0.06) EPS and FY2020 earnings at ($1.13) EPS.
CYH has been the subject of several other reports. ValuEngine downgraded Community Health Systems from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. Barclays set a $4.00 price objective on Community Health Systems and gave the stock a “sell” rating in a research note on Friday, February 22nd. Zacks Investment Research raised Community Health Systems from a “hold” rating to a “buy” rating and set a $4.75 price objective for the company in a research note on Tuesday, March 26th. Finally, Morgan Stanley set a $4.00 price objective on Community Health Systems and gave the stock a “sell” rating in a research note on Friday, February 22nd. Five equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $3.61.
Community Health Systems (NYSE:CYH) last announced its earnings results on Tuesday, April 30th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.09). The firm had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.30 billion. During the same period last year, the company posted $0.13 earnings per share. The firm’s revenue was down 8.5% compared to the same quarter last year.
In related news, CEO Wayne T. Smith acquired 993,449 shares of the stock in a transaction dated Tuesday, May 7th. The shares were acquired at an average price of $3.37 per share, with a total value of $3,347,923.13. Following the acquisition, the chief executive officer now owns 1,959,566 shares in the company, valued at approximately $6,603,737.42. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Wayne T. Smith acquired 323,084 shares of the stock in a transaction dated Friday, May 3rd. The shares were bought at an average cost of $3.32 per share, for a total transaction of $1,072,638.88. Following the acquisition, the chief executive officer now owns 1,959,566 shares in the company, valued at approximately $6,505,759.12. The disclosure for this purchase can be found here. Insiders have bought a total of 1,420,533 shares of company stock valued at $4,753,242 over the last ninety days. Company insiders own 4.50% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Texas Permanent School Fund increased its holdings in shares of Community Health Systems by 4.0% during the 4th quarter. Texas Permanent School Fund now owns 76,095 shares of the company’s stock valued at $215,000 after acquiring an additional 2,948 shares during the last quarter. Swiss National Bank grew its holdings in Community Health Systems by 6.1% in the 1st quarter. Swiss National Bank now owns 158,926 shares of the company’s stock valued at $593,000 after buying an additional 9,200 shares during the last quarter. Ausdal Financial Partners Inc. acquired a new stake in Community Health Systems in the 4th quarter valued at approximately $28,000. Menta Capital LLC acquired a new stake in Community Health Systems in the 4th quarter valued at approximately $29,000. Finally, Arizona State Retirement System grew its holdings in Community Health Systems by 6.2% in the 4th quarter. Arizona State Retirement System now owns 179,076 shares of the company’s stock valued at $505,000 after buying an additional 10,434 shares during the last quarter. 98.36% of the stock is currently owned by institutional investors and hedge funds.
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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