California Public Employees Retirement System Sells 552,681 Shares of Community Health Systems (CYH)

California Public Employees Retirement System cut its holdings in shares of Community Health Systems (NYSE:CYH) by 30.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,267,322 shares of the company’s stock after selling 552,681 shares during the period. California Public Employees Retirement System owned 1.09% of Community Health Systems worth $5,019,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CYH. OppenheimerFunds Inc. boosted its stake in shares of Community Health Systems by 61.5% during the fourth quarter. OppenheimerFunds Inc. now owns 2,589,076 shares of the company’s stock valued at $11,030,000 after purchasing an additional 985,601 shares in the last quarter. Tricadia Capital Management LLC bought a new position in shares of Community Health Systems during the first quarter valued at approximately $2,892,000. BlackRock Inc. boosted its stake in shares of Community Health Systems by 4.7% during the fourth quarter. BlackRock Inc. now owns 14,960,922 shares of the company’s stock valued at $63,734,000 after purchasing an additional 672,638 shares in the last quarter. Spark Investment Management LLC bought a new position in shares of Community Health Systems during the fourth quarter valued at approximately $1,951,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Community Health Systems by 41.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,245,963 shares of the company’s stock valued at $4,935,000 after purchasing an additional 365,583 shares in the last quarter. Hedge funds and other institutional investors own 98.61% of the company’s stock.

CYH has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Community Health Systems from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. ValuEngine upgraded shares of Community Health Systems from a “sell” rating to a “hold” rating in a research note on Monday, April 2nd. Mizuho reiterated a “hold” rating and set a $4.50 price objective on shares of Community Health Systems in a research note on Thursday, March 22nd. Finally, Jefferies Financial Group set a $5.00 price objective on shares of Community Health Systems and gave the company a “hold” rating in a research note on Tuesday, March 6th. Eight analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $5.87.

Shares of CYH opened at $4.22 on Wednesday. The company has a market capitalization of $497.75 million, a price-to-earnings ratio of -3.52 and a beta of 1.60. Community Health Systems has a twelve month low of $3.69 and a twelve month high of $10.18. The company has a debt-to-equity ratio of -19.76, a current ratio of 1.76 and a quick ratio of 1.57.

Community Health Systems (NYSE:CYH) last announced its earnings results on Tuesday, May 1st. The company reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.27. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.65 billion. Community Health Systems had a negative net margin of 15.70% and a negative return on equity of 36.38%. Community Health Systems’s revenue was down 17.8% compared to the same quarter last year. During the same period last year, the firm earned $0.07 earnings per share. equities analysts predict that Community Health Systems will post -1.21 earnings per share for the current fiscal year.

Community Health Systems Profile

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.

Institutional Ownership by Quarter for Community Health Systems (NYSE:CYH)

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