Community Health Systems (NYSE:CYH)’s stock price fell 5.1% during trading on Friday . The company traded as low as $2.58 and last traded at $2.60. 1,322,355 shares were traded during mid-day trading, a decline of 35% from the average session volume of 2,045,932 shares. The stock had previously closed at $2.74.

A number of brokerages have commented on CYH. ValuEngine cut shares of Community Health Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Zacks Investment Research cut shares of Community Health Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Barclays set a $3.00 price objective on shares of Community Health Systems and gave the stock a “sell” rating in a research note on Wednesday, April 17th. 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 company. Community Health Systems currently has an average rating of “Hold” and a consensus target price of $3.61.

Community Health Systems (NYSE:CYH) last released its earnings results on Tuesday, April 30th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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. The company’s revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.13 EPS. Equities research analysts expect that Community Health Systems will post -1.66 EPS for the current year.

In other news, CEO Wayne T. Smith bought 323,084 shares of the stock in a transaction dated Friday, May 3rd. The stock was purchased at an average price 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 of the company’s stock, valued at $6,505,759.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director James S. Ely III bought 50,000 shares of the stock in a transaction dated Monday, May 20th. The stock was purchased at an average price of $3.15 per share, with a total value of $157,500.00. Following 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. Insiders bought a total of 1,420,533 shares of company stock valued at $4,753,242 in the last 90 days. Company insiders own 4.50% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in CYH. Ausdal Financial Partners Inc. bought a new stake in shares of Community Health Systems in the 4th quarter worth about $28,000. Menta Capital LLC bought a new stake in shares of Community Health Systems in the 4th quarter worth about $29,000. HHM Wealth Advisors LLC bought a new stake in shares of Community Health Systems in the 4th quarter worth about $38,000. Oregon Public Employees Retirement Fund bought a new stake in Community Health Systems during the 4th quarter valued at about $44,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in Community Health Systems during the 1st quarter valued at about $45,000. Hedge funds and other institutional investors own 98.36% of the company’s stock.

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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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