An issue of Community Health Systems, Inc. (NYSE:CYH) debt fell 0.9% as a percentage of its face value during trading on Tuesday. The debt issue has a 7.125% coupon and will mature on July 15, 2020. The debt is now trading at $93.25 and was trading at $94.00 one week ago. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.
CYH has been the subject of several research analyst reports. Vetr upgraded Community Health Systems from a “hold” rating to a “buy” rating and set a $8.62 price objective for the company in a report on Monday, April 24th. Zacks Investment Research upgraded Community Health Systems from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Tuesday, July 11th. BidaskClub upgraded Community Health Systems from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Jefferies Group LLC reiterated a “hold” rating and issued a $7.00 price objective on shares of Community Health Systems in a report on Sunday, July 30th. Finally, Deutsche Bank AG dropped their price objective on Community Health Systems from $13.00 to $8.00 and set a “hold” rating for the company in a report on Thursday, August 3rd. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. Community Health Systems currently has a consensus rating of “Hold” and an average price target of $8.02.
Community Health Systems, Inc. (NYSE CYH) traded down 6.39% during mid-day trading on Tuesday, hitting $6.88. The company’s stock had a trading volume of 8,482,877 shares. The company’s market cap is $770.11 million. Community Health Systems, Inc. has a 12-month low of $4.15 and a 12-month high of $13.28. The firm’s 50-day moving average is $8.39 and its 200-day moving average is $8.67.
Community Health Systems (NYSE:CYH) last issued 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 negative net margin of 3.63% and a positive return on equity of 0.07%. The business had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter in the prior year, the company posted $0.09 EPS. The business’s revenue for the quarter was down 9.7% on a year-over-year basis. Analysts predict that Community Health Systems, Inc. will post ($0.32) EPS for the current fiscal year.
In other Community Health Systems news, major shareholder Tian Qiao Chen acquired 9,766,897 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was purchased at an average price of $7.27 per share, for a total transaction of $71,005,341.19. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.60% of the company’s stock.
Several hedge funds have recently modified their holdings of CYH. State of Tennessee Treasury Department raised its stake in shares of Community Health Systems by 138.4% in the first quarter. State of Tennessee Treasury Department now owns 217,398 shares of the company’s stock valued at $1,929,000 after buying an additional 126,208 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of Community Health Systems by 214.9% in the first quarter. Nationwide Fund Advisors now owns 238,001 shares of the company’s stock valued at $2,111,000 after buying an additional 162,431 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Community Health Systems by 47.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 271,332 shares of the company’s stock valued at $1,516,000 after buying an additional 87,876 shares in the last quarter. HighTower Advisors LLC acquired a new stake in shares of Community Health Systems during the first quarter valued at approximately $152,000. Finally, Airain ltd acquired a new stake in shares of Community Health Systems during the first quarter valued at approximately $126,000. Hedge funds and other institutional investors own 95.64% of the company’s stock.
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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