Community Health Systems (CYH) Bond Prices Fall 2.8%

An issue of Community Health Systems (NYSE:CYH) debt fell 2.8% against its face value during trading on Friday. The high-yield issue of debt has a 7.125% coupon and is set to mature on July 15, 2020. The bonds in the issue are now trading at $76.75 and were trading at $80.50 one week ago. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its stock price.

A number of brokerages have issued reports on CYH. Mizuho began coverage on Community Health Systems in a research note on Friday. They issued a “neutral” rating on the stock. ValuEngine raised Community Health Systems from a “strong sell” rating to a “sell” rating in a research note on Monday. Jefferies Group set a $5.00 price objective on Community Health Systems and gave the stock a “hold” rating in a report on Tuesday, March 6th. Zacks Investment Research upgraded Community Health Systems from a “sell” rating to a “hold” rating in a report on Friday, March 9th. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $6.00 price objective on shares of Community Health Systems in a report on Thursday, January 11th. Eight equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Community Health Systems has an average rating of “Hold” and a consensus price target of $6.04.

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Shares of Community Health Systems (NYSE CYH) traded up $0.18 during trading hours on Friday, hitting $4.29. The company had a trading volume of 3,730,120 shares, compared to its average volume of 3,408,983. The stock has a market cap of $489.46, a P/E ratio of -0.20 and a beta of 1.52. The company has a current ratio of 1.73, a quick ratio of 1.54 and a debt-to-equity ratio of -20.06. Community Health Systems has a 1-year low of $3.85 and a 1-year high of $10.51.

Community Health Systems (NYSE:CYH) last announced its earnings results on Tuesday, February 27th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.09. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.53 billion. Community Health Systems had a negative return on equity of 14.18% and a negative net margin of 16.01%. The company’s revenue was down 31.6% on a year-over-year basis. During the same period last year, the business posted $0.46 EPS. equities research analysts expect that Community Health Systems will post -1.31 EPS for the current year.

In related news, major shareholder Tian Qiao Chen bought 478,700 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The shares were acquired at an average cost of $3.98 per share, for a total transaction of $1,905,226.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.70% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Community Health Systems by 4.7% during the 4th quarter. BlackRock Inc. now owns 14,960,922 shares of the company’s stock valued at $63,734,000 after buying an additional 672,638 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Community Health Systems by 31.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,508,663 shares of the company’s stock valued at $49,986,000 after buying an additional 1,551,499 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Community Health Systems by 226.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,228,000 shares of the company’s stock valued at $31,880,000 after buying an additional 2,932,700 shares during the period. OppenheimerFunds Inc. raised its holdings in shares of Community Health Systems by 61.5% during the 4th quarter. OppenheimerFunds Inc. now owns 2,589,076 shares of the company’s stock valued at $11,030,000 after buying an additional 985,601 shares during the period. Finally, Royce & Associates LP raised its holdings in shares of Community Health Systems by 10.0% during the 3rd quarter. Royce & Associates LP now owns 2,482,295 shares of the company’s stock valued at $19,064,000 after buying an additional 226,500 shares during the period. Institutional investors and hedge funds own 94.72% of the company’s stock.

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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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