An issue of Community Health Systems, Inc. (NYSE:CYH) bonds fell 0.9% against their face value during trading on Wednesday. The high-yield debt issue has a 6.875% coupon and is set to mature on February 1, 2022. The debt is now trading at $74.50 and was trading at $77.50 last week. Price changes in a company’s bonds in credit markets often predict parallel changes in its stock price.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Community Health Systems from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Tuesday, July 11th. BidaskClub raised shares of Community Health Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Piper Jaffray Companies reaffirmed a “sell” rating and issued a $9.00 target price on shares of Community Health Systems in a research report on Wednesday, July 26th. ValuEngine raised shares of Community Health Systems from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $7.00 target price on shares of Community Health Systems in a research report on Tuesday, September 5th. Seven research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. Community Health Systems currently has a consensus rating of “Hold” and an average target price of $7.56.
Shares of Community Health Systems, Inc. (NYSE CYH) traded down 2.52% during mid-day trading on Wednesday, reaching $6.20. 3,235,428 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $7.38 and its 200 day moving average price is $8.43. The company’s market cap is $694.00 million. Community Health Systems, Inc. has a 52-week low of $4.15 and a 52-week high of $10.74.
Community Health Systems (NYSE:CYH) last posted its quarterly earnings results on Tuesday, August 1st. The company reported ($0.25) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.31). The company had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $4.14 billion. Community Health Systems had a negative net margin of 3.63% and a positive return on equity of 0.07%. Community Health Systems’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS. On average, equities research analysts predict that Community Health Systems, Inc. will post ($0.35) EPS for the current year.
In other Community Health Systems news, major shareholder Tian Qiao Chen acquired 9,766,897 shares of the company’s stock in a transaction on Monday, August 14th. The shares were acquired at an average cost of $7.27 per share, with a total value of $71,005,341.19. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.70% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Alps Advisors Inc. purchased a new stake in Community Health Systems during the second quarter valued at about $107,000. Shelton Capital Management purchased a new stake in Community Health Systems during the second quarter valued at about $110,000. Fox Run Management L.L.C. purchased a new stake in Community Health Systems during the second quarter valued at about $126,000. Nomura Asset Management Co. Ltd. lifted its holdings in Community Health Systems by 134.4% during the first quarter. Nomura Asset Management Co. Ltd. now owns 14,300 shares of the company’s stock valued at $127,000 after purchasing an additional 8,200 shares during the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. lifted its holdings in Community Health Systems by 168.4% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 16,417 shares of the company’s stock valued at $146,000 after purchasing an additional 10,300 shares during the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.
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Community Health Systems Company Profile
Community Health Systems, Inc is an operator of general acute care hospitals and outpatient facilities in communities across the country. The Company operates through hospital operations segment, which includes its general acute care hospitals and related healthcare entities that provide inpatient and outpatient healthcare services.
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