Community Health Systems (CYH) Bonds Rise 2.4% During Trading

An issue of Community Health Systems (NYSE:CYH) bonds rose 2.4% against their face value during trading on Monday. The debt issue has a 7.125% coupon and is set to mature on July 15, 2020. The bonds in the issue are now trading at $79.25 and were trading at $80.25 last week. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its stock price.

Several research firms recently weighed in on CYH. Cantor Fitzgerald reaffirmed a “hold” rating and set a $6.00 target price on shares of Community Health Systems in a research note on Thursday, February 1st. Jefferies Group set a $5.00 price objective on shares of Community Health Systems and gave the stock a “hold” rating in a research note on Tuesday, March 6th. ValuEngine cut shares of Community Health Systems from a “hold” rating to a “sell” rating in a research note on Friday, December 22nd. Zacks Investment Research raised shares of Community Health Systems from a “sell” rating to a “hold” rating in a research note on Friday, March 9th. Finally, Mizuho started coverage on shares of Community Health Systems in a research note on Friday. They issued a “neutral” rating for the company. Eight analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $6.04.

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Community Health Systems (NYSE CYH) traded down $0.11 during trading on Monday, hitting $4.18. 2,145,968 shares of the stock traded hands, compared to its average volume of 3,387,206. The company has a market cap of $491.75, a price-to-earnings ratio of -0.19 and a beta of 1.52. The company has a quick ratio of 1.54, a current ratio of 1.73 and a debt-to-equity ratio of -20.06. Community Health Systems has a 12-month low of $3.85 and a 12-month high of $10.51.

Community Health Systems (NYSE:CYH) last released its earnings results on Tuesday, February 27th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.09. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.53 billion. Community Health Systems had a negative net margin of 16.01% and a negative return on equity of 14.18%. The business’s revenue was down 31.6% on a year-over-year basis. During the same quarter last year, the business earned $0.46 EPS. equities analysts forecast that Community Health Systems will post -1.31 EPS for the current year.

In other news, major shareholder Tian Qiao Chen bought 995,551 shares of the stock in a transaction dated Wednesday, January 10th. The stock was purchased at an average price of $3.97 per share, for a total transaction of $3,952,337.47. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.70% of the stock is currently owned by company insiders.

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

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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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