Community Health Systems (CYH) Bond Prices Rise 2.1%

An issue of Community Health Systems (NYSE:CYH) bonds rose 2.1% against their face value during trading on Friday. The high-yield debt issue has a 6.875% coupon and is set to mature on February 1, 2022. The bonds in the issue are now trading at $66.00 and were trading at $59.50 one week ago. Price changes in a company’s bonds in credit markets often predict parallel changes in its share price.

A number of research analysts have recently weighed in on the stock. Cantor Fitzgerald reissued a “hold” rating and set a $6.00 target price on shares of Community Health Systems in a research report on Thursday. Zacks Investment Research raised shares of Community Health Systems from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 26th. SunTrust Banks set a $7.00 target price on shares of Community Health Systems and gave the company a “hold” rating in a research report on Sunday, October 15th. Robert W. Baird reissued a “hold” rating and set a $7.00 target price on shares of Community Health Systems in a research report on Wednesday, October 4th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $5.00 target price on shares of Community Health Systems in a research report on Tuesday, November 7th. Eight analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $6.21.

Community Health Systems (NYSE:CYH) opened at $5.15 on Friday. Community Health Systems has a fifty-two week low of $3.85 and a fifty-two week high of $10.51. The company has a quick ratio of 1.86, a current ratio of 2.05 and a debt-to-equity ratio of 10.62.

Community Health Systems (NYSE:CYH) last released its quarterly earnings data on Wednesday, November 1st. The company reported ($0.77) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.47). The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.70 billion. Community Health Systems had a negative return on equity of 3.10% and a negative net margin of 3.97%. The firm’s quarterly revenue was down 16.3% on a year-over-year basis. During the same period last year, the business posted ($0.35) earnings per share. equities analysts expect that Community Health Systems will post -1.25 EPS for the current fiscal year.

In other Community Health Systems news, major shareholder Tian Qiao Chen acquired 406,069 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was bought at an average cost of $4.00 per share, with a total value of $1,624,276.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders purchased 1,980,484 shares of company stock valued at $7,878,489. 4.70% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in CYH. American Century Companies Inc. bought a new position in Community Health Systems in the 2nd quarter valued at $400,000. Northwestern Mutual Investment Management Company LLC bought a new position in Community Health Systems in the 2nd quarter valued at $235,000. Schroder Investment Management Group bought a new position in Community Health Systems in the 2nd quarter valued at $564,000. Franklin Resources Inc. bought a new position in Community Health Systems in the 2nd quarter valued at $14,946,000. Finally, Aberdeen Asset Management PLC UK boosted its holdings in Community Health Systems by 94.1% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 168,798 shares of the company’s stock valued at $1,681,000 after purchasing an additional 81,833 shares during the period. 94.72% of the stock is owned by hedge funds and other institutional investors.

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About Community Health Systems

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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