Community Health Systems Inc. (CYH) Bonds Drop 0.9% During Trading
An issue of Community Health Systems Inc. (NYSE:CYH) debt fell 0.9% against its face value during trading on Wednesday. The high-yield 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 $84.13 and were trading at $83.13 one week ago. Price moves in a company’s debt in credit markets often predict parallel moves in its share price.
A number of analysts have weighed in on the stock. Raymond James Financial Inc. downgraded shares of Community Health Systems from a “market perform” rating to an “underperform” rating in a report on Wednesday, June 1st. Leerink Swann reissued a “hold” rating on shares of Community Health Systems in a report on Tuesday. Susquehanna raised shares of Community Health Systems from a “neutral” rating to a “positive” rating and increased their price target for the company from $10.78 to $18.00 in a report on Wednesday, September 14th. Jefferies Group reissued a “hold” rating on shares of Community Health Systems in a report on Wednesday, August 10th. Finally, Credit Suisse Group AG initiated coverage on shares of Community Health Systems in a report on Friday, July 29th. They set a “neutral” rating and a $14.00 price objective for the company. Six investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $16.32.
Community Health Systems Inc. (NYSE:CYH) opened at 10.17 on Thursday. The stock has a 50 day moving average of $10.94 and a 200 day moving average of $13.31. The company’s market cap is $1.13 billion. Community Health Systems Inc. has a 52 week low of $9.66 and a 52 week high of $39.59.
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Community Health Systems (NYSE:CYH) last announced its earnings results on Tuesday, August 2nd. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.47. The business earned $4.59 billion during the quarter, compared to the consensus estimate of $4.53 billion. Community Health Systems had a negative net margin of 7.55% and a positive return on equity of 2.10%. Community Health Systems’s revenue was down 6.0% compared to the same quarter last year. Equities research analysts predict that Community Health Systems Inc. will post $1.34 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of CYH. Wellington Management Group LLP purchased a new stake in Community Health Systems during the first quarter valued at $157,109,000. Vanguard Group Inc. boosted its stake in Community Health Systems by 5.0% in the second quarter. Vanguard Group Inc. now owns 7,984,907 shares of the company’s stock valued at $96,218,000 after buying an additional 381,183 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Community Health Systems by 41.7% in the second quarter. BlackRock Fund Advisors now owns 6,020,839 shares of the company’s stock valued at $72,551,000 after buying an additional 1,771,171 shares in the last quarter. SHANDA ASSET MANAGEMENT HOLDINGS Ltd purchased a new stake in Community Health Systems during the second quarter valued at $59,988,000. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Community Health Systems by 26.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,417,862 shares of the company’s stock valued at $81,775,000 after buying an additional 915,970 shares in the last quarter. 96.57% of the stock is owned by institutional investors and hedge funds.
About Community Health Systems
Community Health Systems, Inc is an operator of general acute care hospitals in communities. The Company provides healthcare services through the hospitals that it owns and operates and affiliated businesses in non-urban and selected urban markets throughout the United States. The Company operates through two segments: hospital operations and home care agencies operations.
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