An issue of Community Health Systems (NYSE:CYH) debt rose 2% against its face value during trading on Wednesday. The high-yield issue of debt has a 6.875% coupon and is set to mature on February 1, 2022. The debt is now trading at $66.00 and was trading at $65.75 last week. Price changes in a company’s debt in credit markets often anticipate parallel changes in its stock price.

Several research firms have recently issued reports on CYH. ValuEngine raised Community Health Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 5th. Morgan Stanley set a $4.00 price objective on Community Health Systems and gave the company a “sell” rating in a research note on Friday, February 22nd. Barclays set a $4.00 target price on Community Health Systems and gave the company a “sell” rating in a report on Friday, February 22nd. Finally, Zacks Investment Research cut Community Health Systems from a “buy” rating to a “hold” rating in a report on Thursday, January 24th. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $3.68.

CYH stock traded up $0.08 during trading on Wednesday, hitting $4.50. The company had a trading volume of 2,092,539 shares, compared to its average volume of 2,237,461. Community Health Systems has a one year low of $2.48 and a one year high of $5.35. The stock has a market capitalization of $513.74 million, a PE ratio of -2.32 and a beta of 2.64.

Community Health Systems (NYSE:CYH) last announced its earnings results on Wednesday, February 20th. The company reported ($0.42) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.59) by $0.17. The company had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the previous year, the company earned ($0.28) earnings per share. The business’s revenue was up 12.9% on a year-over-year basis. Sell-side analysts predict that Community Health Systems will post -1.52 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in CYH. BlackRock Inc. boosted its holdings in Community Health Systems by 8.6% in the fourth quarter. BlackRock Inc. now owns 17,024,671 shares of the company’s stock valued at $48,008,000 after acquiring an additional 1,346,891 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Community Health Systems by 9.6% during the 3rd quarter. Vanguard Group Inc. now owns 11,248,820 shares of the company’s stock worth $38,817,000 after buying an additional 987,647 shares in the last quarter. Vanguard Group Inc boosted its holdings in shares of Community Health Systems by 9.3% during the 3rd quarter. Vanguard Group Inc now owns 11,219,038 shares of the company’s stock worth $38,817,000 after buying an additional 957,865 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Community Health Systems by 1,038.2% during the 4th quarter. Millennium Management LLC now owns 1,005,396 shares of the company’s stock worth $2,835,000 after buying an additional 917,065 shares in the last quarter. Finally, Royce & Associates LP boosted its holdings in shares of Community Health Systems by 56.7% during the 3rd quarter. Royce & Associates LP now owns 2,299,895 shares of the company’s stock worth $7,958,000 after buying an additional 832,500 shares in the last quarter. Institutional investors and hedge funds own 99.24% of the company’s stock.

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Community Health Systems Company Profile (NYSE:CYH)

Community Health Systems, Inc, together with its subsidiaries, owns, leases, and operates general acute care hospitals in the United States. The company offers general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services, as well as skilled nursing and home care services.

Further Reading: Fundamental Analysis

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