An issue of Community Health Systems (NYSE:CYH) bonds rose 2.1% as a percentage of their face value during trading on Friday. The high-yield debt issue has a 6.875% coupon and will mature on February 1, 2022. The debt is now trading at $66.00 and was trading at $59.50 one week ago. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its share price.

CYH has been the topic of a number of research reports. Robert W. Baird restated a “hold” rating and set a $7.00 target price on shares of Community Health Systems in a report on Wednesday, October 4th. Mizuho restated a “hold” rating and set a $7.00 target price on shares of Community Health Systems in a report on Thursday, October 12th. Jefferies Group restated a “hold” rating and set a $7.00 target price on shares of Community Health Systems in a report on Thursday, October 12th. Zacks Investment Research upgraded shares of Community Health Systems from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, ValuEngine upgraded shares of Community Health Systems from a “sell” rating to a “hold” rating in a report on Friday, October 27th. Eight analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $6.21.

Community Health Systems (CYH) traded up $0.18 on Friday, hitting $5.15. The stock had a trading volume of 8,363,622 shares, compared to its average volume of 4,447,800. The company has a current ratio of 2.05, a quick ratio of 1.86 and a debt-to-equity ratio of 10.62. The stock has a market cap of $590.84, a price-to-earnings ratio of -0.88 and a beta of 1.42. Community Health Systems has a 12-month low of $3.85 and a 12-month high of $10.51.

Community Health Systems (NYSE:CYH) last posted its quarterly earnings results 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). The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.70 billion. Community Health Systems had a negative return on equity of 3.10% and a negative net margin of 3.97%. Community Health Systems’s revenue for the quarter was down 16.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.35) EPS. equities analysts anticipate that Community Health Systems will post -1.25 EPS for the current fiscal year.

In related news, major shareholder Tian Qiao Chen purchased 995,551 shares of the stock in a transaction dated Wednesday, January 10th. The stock was purchased at an average price of $3.97 per share, with a total value of $3,952,337.47. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders bought 1,980,484 shares of company stock valued at $7,878,489. 4.70% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Shelton Capital Management purchased a new position in shares of Community Health Systems in the 2nd quarter worth about $110,000. FrontFour Capital Group LLC purchased a new position in shares of Community Health Systems in the 3rd quarter worth about $113,000. ARP Americas LLC purchased a new position in shares of Community Health Systems in the 3rd quarter worth about $121,000. Group One Trading L.P. raised its position in shares of Community Health Systems by 27.5% in the 2nd quarter. Group One Trading L.P. now owns 14,765 shares of the company’s stock worth $147,000 after purchasing an additional 3,189 shares during the last quarter. Finally, Macquarie Group Ltd. purchased a new position in shares of Community Health Systems in the 3rd quarter worth about $154,000. 94.72% of the stock is owned by hedge funds and other institutional investors.

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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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