An issue of Community Health Systems, Inc. (NYSE:CYH) debt fell 2% against its face value during trading on Tuesday. The high-yield issue of debt has a 7.125% coupon and is set to mature on July 15, 2020. The bonds in the issue are now trading at $78.50 and were trading at $87.25 one week ago. Price changes in a company’s debt in credit markets often anticipate parallel changes in its share price.

Several equities analysts have recently weighed in on the company. Zacks Investment Research raised Community Health Systems from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Tuesday, July 11th. Piper Jaffray Companies reaffirmed a “sell” rating and issued a $9.00 price objective on shares of Community Health Systems in a research note on Wednesday, July 26th. ValuEngine raised Community Health Systems from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $7.00 price objective on shares of Community Health Systems in a research note on Tuesday, September 5th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $7.00 price objective on shares of Community Health Systems in a research note on Wednesday, October 4th. Six investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. Community Health Systems currently has an average rating of “Hold” and a consensus target price of $6.47.

Shares of Community Health Systems, Inc. (NYSE CYH) opened at $4.46 on Wednesday. The company has a quick ratio of 1.86, a current ratio of 2.05 and a debt-to-equity ratio of 10.62. Community Health Systems, Inc. has a twelve month low of $4.15 and a twelve month high of $10.51.

Community Health Systems (NYSE:CYH) last posted its quarterly earnings data on Wednesday, November 1st. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.47). Community Health Systems had a negative return on equity of 3.10% and a negative net margin of 3.97%. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the prior year, the firm earned ($0.35) earnings per share. Community Health Systems’s revenue for the quarter was down 16.3% compared to the same quarter last year. sell-side analysts predict that Community Health Systems, Inc. will post -1.03 earnings per share for the current year.

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

A number of hedge funds have recently bought and sold shares of CYH. Macquarie Group Ltd. bought a new stake in shares of Community Health Systems in the 3rd quarter valued at approximately $154,000. SG Americas Securities LLC increased its holdings in shares of Community Health Systems by 98.5% in the 3rd quarter. SG Americas Securities LLC now owns 191,384 shares of the company’s stock valued at $1,470,000 after acquiring an additional 94,993 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in shares of Community Health Systems by 60.1% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 43,030 shares of the company’s stock valued at $330,000 after acquiring an additional 16,150 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Community Health Systems by 89.0% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 111,611 shares of the company’s stock valued at $857,000 after acquiring an additional 52,572 shares during the last quarter. Finally, IndexIQ Advisors LLC increased its holdings in shares of Community Health Systems by 83.0% in the 3rd quarter. IndexIQ Advisors LLC now owns 97,715 shares of the company’s stock valued at $750,000 after acquiring an additional 44,333 shares during the last quarter. Institutional investors own 99.59% 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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