Community Health Systems, Inc. (CYH) Bonds Trading 1.5% Lower

An issue of Community Health Systems, Inc. (NYSE:CYH) bonds fell 1.5% against their face value during trading on Tuesday. The 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 $77.50 and were trading at $78.50 one week ago. Price changes in a company’s bonds in credit markets often predict parallel changes in its share price.

A number of equities analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Community Health Systems from a “hold” rating to a “strong sell” rating in a report on Tuesday. Robert W. Baird reaffirmed a “hold” rating and set a $7.00 price objective on shares of Community Health Systems in a report on Wednesday. Royal Bank Of Canada reaffirmed a “hold” rating and set a $7.00 price objective on shares of Community Health Systems in a report on Friday, August 4th. Deutsche Bank AG cut their price objective on shares of Community Health Systems from $13.00 to $8.00 and set a “hold” rating on the stock in a report on Thursday, August 3rd. Finally, BidaskClub downgraded shares of Community Health Systems from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $7.56.

Community Health Systems, Inc. (NYSE:CYH) opened at 7.38 on Thursday. The company has a 50 day moving average of $7.41 and a 200-day moving average of $8.48. Community Health Systems, Inc. has a one year low of $4.15 and a one year high of $11.50. The stock’s market capitalization is $826.08 million.

Community Health Systems (NYSE:CYH) last released its quarterly earnings data on Tuesday, August 1st. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.31). Community Health Systems had a positive return on equity of 0.07% and a negative net margin of 3.63%. The business had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the previous year, the business posted $0.09 earnings per share. Community Health Systems’s quarterly revenue was down 9.7% compared to the same quarter last year. Equities research analysts predict that Community Health Systems, Inc. will post ($0.31) earnings per share for the current fiscal year.

In other news, major shareholder Tian Qiao Chen bought 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.70% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. HighTower Advisors LLC boosted its position in Community Health Systems by 0.3% in the second quarter. HighTower Advisors LLC now owns 17,203 shares of the company’s stock worth $170,000 after purchasing an additional 51 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Community Health Systems by 1.1% in the second quarter. Nisa Investment Advisors LLC now owns 22,750 shares of the company’s stock worth $227,000 after purchasing an additional 250 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in Community Health Systems by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 46,700 shares of the company’s stock worth $465,000 after purchasing an additional 300 shares during the last quarter. World Asset Management Inc boosted its position in Community Health Systems by 3.2% in the first quarter. World Asset Management Inc now owns 12,377 shares of the company’s stock worth $110,000 after purchasing an additional 387 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in Community Health Systems by 0.8% in the second quarter. Arizona State Retirement System now owns 59,800 shares of the company’s stock worth $596,000 after purchasing an additional 500 shares during the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.

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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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