An issue of Community Health Systems Inc. (NYSE:CYH) debt rose 2.3% as a percentage of its face value during trading on Monday. The high-yield debt issue has a 8% coupon and is set to mature on November 15, 2019. The debt is now trading at $81.75 and was trading at $77.70 one week ago. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its stock price.

CYH has been the subject of several recent research reports. Vetr raised Community Health Systems from a “hold” rating to a “buy” rating and set a $11.75 price target for the company in a research note on Monday, October 10th. Leerink Swann reaffirmed a “hold” rating on shares of Community Health Systems in a research report on Tuesday, October 4th. Wolfe Research initiated coverage on Community Health Systems in a research report on Tuesday, October 25th. They set a “market perform” rating for the company. Bank of America Corp. reaffirmed an “underperform” rating and set a $6.00 target price (down previously from $10.00) on shares of Community Health Systems in a research report on Thursday, October 27th. Finally, Mizuho cut Community Health Systems from a “neutral” rating to an “underperform” rating in a research report on Thursday, October 27th. Nine investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $13.43.

Shares of Community Health Systems Inc. (NYSE:CYH) traded up 0.52% during mid-day trading on Monday, hitting $5.81. The stock had a trading volume of 4,541,967 shares. The stock’s 50-day moving average price is $7.96 and its 200 day moving average price is $11.11. Community Health Systems Inc. has a 1-year low of $4.15 and a 1-year high of $24.91. The company’s market capitalization is $644.28 million.

In other news, major shareholder Tian Qiao Chen purchased 929,813 shares of Community Health Systems stock in a transaction that occurred on Monday, September 26th. The stock was acquired at an average cost of $10.27 per share, for a total transaction of $9,549,179.51. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. First Quadrant L P CA increased its stake in Community Health Systems by 21.9% in the second quarter. First Quadrant L P CA now owns 1,606,700 shares of the company’s stock valued at $19,361,000 after buying an additional 288,800 shares during the period. Acadian Asset Management LLC increased its stake in Community Health Systems by 273.3% in the second quarter. Acadian Asset Management LLC now owns 154,313 shares of the company’s stock valued at $1,859,000 after buying an additional 112,970 shares during the period. Eqis Capital Management Inc. increased its stake in Community Health Systems by 45.5% in the second quarter. Eqis Capital Management Inc. now owns 21,821 shares of the company’s stock valued at $263,000 after buying an additional 6,820 shares during the period. Denali Advisors LLC purchased a new stake in Community Health Systems during the second quarter valued at about $233,000. Finally, Atria Investments LLC purchased a new stake in Community Health Systems during the second quarter valued at about $157,000. Institutional investors and hedge funds own 96.57% of the company’s stock.

Community Health Systems Company Profile

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.

5 Day Chart for NYSE:CYH

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