Trading Report: Today, Jennison Associates LLC Buys Shares of 32,806 Community Health Systems Inc. (CYH)

Today, Jennison Associates LLC Buys Shares of 32,806 Community Health Systems Inc. (CYH)

Jennison Associates LLC purchased a new position in Community Health Systems Inc. (NYSE:CYH) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 32,806 shares of the company’s stock, valued at approximately $379,000.

Several other large investors have also recently bought and sold shares of the company. SHANDA ASSET MANAGEMENT HOLDINGS Ltd purchased a new stake in Community Health Systems during the second quarter worth $59,988,000. Kohlberg Kravis Roberts & Co. L.P. purchased a new stake in Community Health Systems during the second quarter worth $41,896,000. JPMorgan Chase & Co. increased its stake in Community Health Systems by 417.6% in the second quarter. JPMorgan Chase & Co. now owns 2,404,267 shares of the company’s stock worth $28,971,000 after buying an additional 1,939,765 shares during the period. BlackRock Fund Advisors increased its stake in Community Health Systems by 41.7% in the second quarter. BlackRock Fund Advisors now owns 6,020,839 shares of the company’s stock worth $72,551,000 after buying an additional 1,771,171 shares during the period. Finally, State Street Corp increased its stake in Community Health Systems by 20.6% in the second quarter. State Street Corp now owns 4,058,574 shares of the company’s stock worth $48,905,000 after buying an additional 693,851 shares during the period. 96.57% of the stock is owned by institutional investors.

Shares of Community Health Systems Inc. (NYSE:CYH) opened at 5.85 on Friday. The company has a 50-day moving average price of $7.40 and a 200 day moving average price of $10.94. The firm’s market cap is $648.71 million. Community Health Systems Inc. has a 52 week low of $4.15 and a 52 week high of $24.91.

CYH has been the subject of a number of recent research reports. Cantor Fitzgerald reaffirmed a “hold” rating and set a $7.00 price target on shares of Community Health Systems in a research note on Monday, November 14th. Vetr downgraded Community Health Systems from a “strong-buy” rating to a “hold” rating and set a $11.75 price objective on the stock. in a research note on Monday, October 3rd. Mizuho downgraded Community Health Systems from a “neutral” rating to an “underperform” rating in a research note on Thursday, October 27th. Susquehanna reissued a “positive” rating and issued a $10.00 price objective (down from $18.00) on shares of Community Health Systems in a research note on Sunday, November 6th. Finally, Wolfe Research initiated coverage on Community Health Systems in a research note on Tuesday, October 25th. They issued a “market perform” rating on the stock. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the stock. Community Health Systems currently has a consensus rating of “Hold” and a consensus target price of $13.43.

In related news, major shareholder Tian Qiao Chen purchased 929,813 shares of Community Health Systems stock in a transaction that occurred on Monday, September 26th. The stock was purchased at an average cost of $10.27 per share, with a total value of $9,549,179.51. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.60% of the company’s stock.

Community Health Systems Company Profile

Community Health Systems, Inc is an operator of general acute care hospitals in communities. The Company provides healthcare services through the hospitals that it owns and operates and affiliated businesses in non-urban and selected urban markets throughout the United States. The Company operates through two segments: hospital operations and home care agencies operations.

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