Community Health Systems, Inc. (CYH) Bond Prices Fall 0.9%

An issue of Community Health Systems, Inc. (NYSE:CYH) debt fell 0.9% against its 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 $90.00 and were trading at $90.25 last week. Price changes in a company’s debt in credit markets often anticipate parallel changes in its stock price.

A number of equities research analysts recently weighed in on the stock. BidaskClub downgraded shares of Community Health Systems from a “hold” rating to a “sell” rating in a research note on Friday. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $7.00 target price on shares of Community Health Systems in a research note on Friday. Deutsche Bank AG decreased their price target on shares of Community Health Systems from $13.00 to $8.00 and set a “hold” rating on the stock in a research note on Thursday. Piper Jaffray Companies reissued a “sell” rating and set a $6.00 price target on shares of Community Health Systems in a research note on Thursday. Finally, Mizuho reissued a “neutral” rating and set a $7.00 price target (down from $7.50) on shares of Community Health Systems in a research note on Wednesday. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. Community Health Systems presently has a consensus rating of “Hold” and a consensus price target of $8.34.

Shares of Community Health Systems, Inc. (NYSE CYH) traded up 0.31% on Friday, hitting $6.52. 3,012,111 shares of the stock traded hands. The firm’s market cap is $730.24 million. Community Health Systems, Inc. has a 52-week low of $4.15 and a 52-week high of $13.28. The firm has a 50 day moving average price of $9.08 and a 200 day moving average price of $8.69.

Community Health Systems (NYSE:CYH) last released its quarterly earnings results on Tuesday, August 1st. The company reported ($0.25) earnings per share for the quarter, missing the Thomson Reuters’ 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 company had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter in the previous year, the company posted $0.09 EPS. The business’s quarterly revenue was down 9.7% on a year-over-year basis. On average, equities analysts forecast that Community Health Systems, Inc. will post ($0.08) EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Alps Advisors Inc. acquired a new position in shares of Community Health Systems during the second quarter valued at approximately $107,000. World Asset Management Inc increased its position in shares of Community Health Systems by 3.2% in the first quarter. World Asset Management Inc now owns 12,377 shares of the company’s stock valued at $110,000 after buying an additional 387 shares during the period. State of Alaska Department of Revenue increased its position in shares of Community Health Systems by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 12,570 shares of the company’s stock valued at $111,000 after buying an additional 270 shares during the period. Airain ltd acquired a new position in shares of Community Health Systems during the first quarter valued at approximately $126,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of Community Health Systems during the second quarter valued at approximately $126,000. Institutional investors own 95.29% of the company’s stock.

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.