An issue of Community Health Systems, Inc. (NYSE:CYH) bonds fell 1.3% as a percentage of their face value during trading on Friday. The high-yield issue of debt has a 6.875% coupon and is set to mature on February 1, 2022. The bonds in the issue are now trading at $79.69 and were trading at $83.00 one week ago. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its stock price.

A number of research firms have recently commented on CYH. Zacks Investment Research upgraded Community Health Systems from a “sell” rating to a “hold” rating in a report on Friday, July 21st. 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. Mizuho reiterated a “neutral” rating and issued a $7.00 price objective (down from $7.50) on shares of Community Health Systems in a report on Wednesday, August 2nd. BidaskClub upgraded Community Health Systems from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $7.00 price objective on shares of Community Health Systems in a report on Friday, September 1st. Six investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have assigned a buy rating to the company. Community Health Systems presently has an average rating of “Hold” and an average target price of $7.84.

Community Health Systems, Inc. (NYSE:CYH) traded up 0.71% during trading on Friday, hitting $7.13. 1,970,979 shares of the company’s stock traded hands. 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 price is $7.40 and its 200 day moving average price is $8.75. The stock’s market cap is $798.10 million.

Community Health Systems (NYSE:CYH) last posted its earnings results on Tuesday, August 1st. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by $0.31. Community Health Systems had a positive return on equity of 0.07% and a negative net margin of 3.63%. The business had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same period in the previous year, the company posted $0.09 earnings per share. Community Health Systems’s revenue for the quarter was down 9.7% compared to the same quarter last year. Analysts anticipate that Community Health Systems, Inc. will post ($0.31) earnings per share for the current fiscal year.

In other Community Health Systems news, major shareholder Tian Qiao Chen purchased 9,766,897 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was bought at an average cost of $7.27 per share, with a total value of $71,005,341.19. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 4.70% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Alps Advisors Inc. bought a new position in shares of Community Health Systems in the second quarter valued at $107,000. World Asset Management Inc grew its stake 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 in the last quarter. Shelton Capital Management bought a new position in shares of Community Health Systems in the second quarter valued at $110,000. State of Alaska Department of Revenue grew its stake 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 in the last quarter. Finally, Airain ltd bought a new position in shares of Community Health Systems in the first quarter valued at $126,000. 94.71% of the stock is owned by institutional investors and hedge funds.

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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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