Community Health Systems (NYSE:CYH) shot up 5.9% during mid-day trading on Friday . The company traded as high as $2.16 and last traded at $2.15, 2,755,221 shares traded hands during mid-day trading. An increase of 30% from the average session volume of 2,114,630 shares. The stock had previously closed at $2.03.

A number of brokerages have issued reports on CYH. ValuEngine downgraded shares of Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Barclays set a $24.00 target price on shares of Tenet Healthcare and gave the stock a “hold” rating in a report on Wednesday, April 17th. Finally, Zacks Investment Research downgraded shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $3.55.

The company has a fifty day moving average price of $2.54.

Community Health Systems (NYSE:CYH) last posted its earnings results on Tuesday, April 30th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.09). The firm had revenue of $3.38 billion for the quarter, compared to analysts’ expectations of $3.30 billion. During the same quarter in the previous year, the business posted $0.13 EPS. The firm’s revenue was down 8.5% on a year-over-year basis. Analysts forecast that Community Health Systems will post -1.64 earnings per share for the current fiscal year.

In other news, CEO Wayne T. Smith purchased 993,449 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were bought at an average cost of $3.37 per share, for a total transaction of $3,347,923.13. Following the acquisition, the chief executive officer now owns 1,959,566 shares of the company’s stock, valued at approximately $6,603,737.42. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James S. Ely III purchased 50,000 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were purchased at an average price of $3.15 per share, for a total transaction of $157,500.00. Following the completion of the acquisition, the director now directly owns 136,320 shares in the company, valued at approximately $429,408. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 1,420,533 shares of company stock worth $4,753,242. Insiders own 4.50% of the company’s stock.

Large investors have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV bought a new position in Community Health Systems during the 1st quarter valued at about $45,000. FNY Investment Advisers LLC bought a new position in Community Health Systems during the 2nd quarter valued at about $61,000. Paloma Partners Management Co grew its holdings in Community Health Systems by 140.2% during the 4th quarter. Paloma Partners Management Co now owns 24,400 shares of the company’s stock valued at $69,000 after purchasing an additional 14,240 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new position in Community Health Systems during the 4th quarter valued at about $75,000. Finally, Metropolitan Life Insurance Co. NY grew its holdings in Community Health Systems by 351.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 33,022 shares of the company’s stock valued at $93,000 after purchasing an additional 25,710 shares during the last quarter. Institutional investors own 98.42% of the company’s stock.

Community Health Systems Company Profile (NYSE:CYH)

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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