Larry Robbins (Trades, Portfolio) of Glenview Capital Management reduced his stake in Community Health Systems Inc. (CYH, Financial), a Franklin, Tenn.-based health care services provider, by 279,074 shares on Oct. 22.
Robbins sold the shares in the seventh-most valuable stake in his portfolio for $28.33 per share. The deal had a -0.03% impact on Robbins’ portfolio.
Community Health Systems has a market cap of $3.37 billion and an enterprise value of $19.96 billion. It has a P/E of 9.3, a forward P/E of 6.7, a P/B of 0.8 and a P/S of 0.2. GuruFocus has given Community Health Systems a Financial Strength rating of 4/10 and a Profitability and Growth rating of 6/10.
Robbins is Community Health Systems’ leading shareholder among the gurus. Ron Baron (Trades, Portfolio), Richard Perry (Trades, Portfolio), Richard Snow (Trades, Portfolio), Vanguard Health Care Fund (Trades, Portfolio), Louis Moore Bacon (Trades, Portfolio), John Hussman (Trades, Portfolio), Jeff Auxier (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio) and David Dreman (Trades, Portfolio) also have shares of Community Health Systems in their portfolios.
The National Labor Relations Board's Office of General Counsel alleged Monday that Community Health Systems and seven of its hospitals interfered with employees’ rights to talk about working conditions, cracked down on labor organizing and declined to negotiate with unions.
Community Health Systems sold for $28.53 per share late Wednesday.
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