An issue of Community Health Systems (NYSE:CYH) bonds rose 2.1% against their face value during trading on Friday. The high-yield issue of debt has a 6.875% coupon and will mature on February 1, 2022. The debt is now trading at $66.00 and was trading at $59.50 last week. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its share price.
A number of research firms recently weighed in on CYH. Cantor Fitzgerald restated a “hold” rating and issued a $6.00 target price on shares of Community Health Systems in a report on Thursday. Goldman Sachs Group began coverage on shares of Community Health Systems in a report on Wednesday, January 3rd. They issued a “sell” rating and a $3.00 target price on the stock. ValuEngine lowered shares of Community Health Systems from a “hold” rating to a “sell” rating in a report on Friday, December 22nd. Zacks Investment Research lowered shares of Community Health Systems from a “hold” rating to a “sell” rating in a report on Monday, December 18th. Finally, JPMorgan Chase & Co. lowered shares of Community Health Systems from a “neutral” rating to an “underweight” rating in a report on Thursday, December 14th. Eight equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. Community Health Systems presently has a consensus rating of “Hold” and an average price target of $6.21.
Shares of Community Health Systems (CYH) opened at $5.15 on Friday. The company has a debt-to-equity ratio of 10.62, a current ratio of 2.05 and a quick ratio of 1.86. Community Health Systems has a one year low of $3.85 and a one year high of $10.51.
Community Health Systems (NYSE:CYH) last posted 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 firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.70 billion. Community Health Systems had a negative net margin of 3.97% and a negative return on equity of 3.10%. The company’s quarterly revenue was down 16.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.35) EPS. equities analysts forecast that Community Health Systems will post -1.25 EPS for the current fiscal year.
In other news, major shareholder Tian Qiao Chen acquired 995,551 shares of the firm’s stock in a transaction on 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 purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders acquired 1,980,484 shares of company stock valued at $7,878,489. Company insiders own 4.70% of the company’s stock.
Large investors have recently bought and sold shares of the business. Shelton Capital Management purchased a new stake in Community Health Systems in the 2nd quarter valued at about $110,000. FrontFour Capital Group LLC purchased a new stake in Community Health Systems in the 3rd quarter valued at about $113,000. Group One Trading L.P. increased its stake in Community Health Systems by 27.5% in the 2nd quarter. Group One Trading L.P. now owns 14,765 shares of the company’s stock valued at $147,000 after buying an additional 3,189 shares during the last quarter. ARP Americas LLC purchased a new stake in Community Health Systems in the 3rd quarter valued at about $121,000. Finally, HighTower Advisors LLC increased its stake in Community Health Systems by 0.3% in the 2nd quarter. HighTower Advisors LLC now owns 17,203 shares of the company’s stock valued at $170,000 after buying an additional 51 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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