An issue of Community Health Systems (NYSE:CYH) debt rose 1.4% against its face value during trading on Wednesday. The debt issue has a 6.875% coupon and will mature on February 1, 2022. The debt is now trading at $71.31 and was trading at $68.28 last week. Price moves in a company’s debt in credit markets often anticipate parallel moves in its share price.
A number of brokerages have recently weighed in on CYH. Wells Fargo & Co began coverage on Community Health Systems in a research report on Tuesday. They issued an “underperform” rating and a $4.50 price target for the company. Zacks Investment Research cut Community Health Systems from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 3rd. Cantor Fitzgerald restated a “hold” rating and issued a $6.00 price target on shares of Community Health Systems in a research report on Thursday, January 11th. SunTrust Banks set a $7.00 price target on Community Health Systems and gave the company a “hold” rating in a research report on Sunday, October 15th. Finally, Robert W. Baird restated a “hold” rating and issued a $7.00 price target on shares of Community Health Systems in a research report on Wednesday, October 4th. Eight equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $6.10.
Community Health Systems (CYH) traded down $0.12 during trading on Wednesday, reaching $5.65. The company had a trading volume of 3,420,000 shares, compared to its average volume of 3,550,000. The stock has a market cap of $648.21, a PE ratio of -0.97 and a beta of 1.42. Community Health Systems has a 1 year low of $3.85 and a 1 year high of $10.51. The company has a current ratio of 2.05, a quick ratio of 1.86 and a debt-to-equity ratio of 10.62.
Community Health Systems (NYSE:CYH) last posted its quarterly earnings data on Wednesday, November 1st. The company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.47). The company had revenue of $3.67 billion for 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%. The company’s revenue for the quarter was down 16.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.35) EPS. equities research analysts predict that Community Health Systems will post -1.26 EPS for the current fiscal year.
In related news, major shareholder Tian Qiao Chen acquired 995,551 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The stock was purchased at an average price of $3.97 per share, for a total transaction of $3,952,337.47. The purchase was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders have purchased 1,980,484 shares of company stock valued at $7,878,489. 4.70% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Shelton Capital Management purchased a new stake in Community Health Systems during the 2nd quarter worth about $110,000. FrontFour Capital Group LLC purchased a new stake in Community Health Systems during the 3rd quarter worth about $113,000. Group One Trading L.P. increased its position in Community Health Systems by 27.5% during 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 in the last quarter. ARP Americas LLC purchased a new stake in Community Health Systems during the 3rd quarter worth about $121,000. Finally, HighTower Advisors LLC increased its position in Community Health Systems by 0.3% during the 2nd quarter. HighTower Advisors LLC now owns 17,203 shares of the company’s stock worth $170,000 after purchasing an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 94.72% of the company’s stock.
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Community Health Systems Company Profile
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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