An issue of Community Health Systems (NYSE:CYH) bonds fell 0.6% against their face value during trading on Thursday after Morgan Stanley lowered their price target on the stock from $3.50 to $3.00. The debt issue has a 8.125% coupon and is set to mature on June 30, 2024. The bonds in the issue are now trading at $81.00 and were trading at $81.75 one week ago. Price moves in a company’s bonds in credit markets sometimes predict parallel moves in its stock price.

A number of other equities analysts have also recently commented on the stock. Barclays assumed coverage on shares of Community Health Systems in a research note on Tuesday. They set an “underweight” rating and a $3.00 price target for the company. Robert W. Baird reaffirmed a “hold” rating and set a $4.00 price target (down from $5.00) on shares of Community Health Systems in a research note on Friday, July 27th. Piper Jaffray Companies reaffirmed a “sell” rating and set a $3.00 price target on shares of Community Health Systems in a research note on Friday, July 27th. ValuEngine raised shares of Community Health Systems from a “hold” rating to a “buy” rating in a research note on Saturday, July 28th. Finally, Mizuho set a $4.00 price target on shares of Community Health Systems and gave the stock a “hold” rating in a research note on Friday, July 27th. Nine investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. Community Health Systems currently has a consensus rating of “Hold” and a consensus target price of $4.20.

In related news, EVP Benjamin C. Fordham acquired 10,000 shares of the stock in a transaction on Tuesday, August 14th. The stock was bought at an average cost of $3.16 per share, with a total value of $31,600.00. Following the transaction, the executive vice president now directly owns 120,629 shares in the company, valued at $381,187.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders acquired 20,655 shares of company stock valued at $73,245. 3.80% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in CYH. PointState Capital LP purchased a new stake in Community Health Systems in the 1st quarter valued at about $12,057,000. BlackRock Inc. boosted its position in Community Health Systems by 5.8% in the 2nd quarter. BlackRock Inc. now owns 15,839,085 shares of the company’s stock valued at $52,587,000 after buying an additional 872,001 shares during the period. Saba Capital Management L.P. boosted its position in Community Health Systems by 11.4% in the 2nd quarter. Saba Capital Management L.P. now owns 8,213,005 shares of the company’s stock valued at $27,267,000 after buying an additional 837,427 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Community Health Systems by 17.2% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,097,383 shares of the company’s stock valued at $16,923,000 after buying an additional 749,092 shares during the period. Finally, Tricadia Capital Management LLC purchased a new stake in Community Health Systems in the 1st quarter valued at about $2,892,000. 99.53% of the stock is owned by institutional investors.

The company has a debt-to-equity ratio of -17.03, a quick ratio of 1.58 and a current ratio of 1.79. The firm has a market cap of $359.22 million, a P/E ratio of -2.78 and a beta of 1.68.

Community Health Systems (NYSE:CYH) last posted its quarterly earnings results on Thursday, July 26th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.42. Community Health Systems had a negative net margin of 16.16% and a negative return on equity of 36.38%. The business had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.52 billion. During the same quarter in the previous year, the business posted ($0.25) EPS. The company’s quarterly revenue was down 14.0% compared to the same quarter last year. equities analysts forecast that Community Health Systems will post -1.5 earnings per share for the current year.

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. It 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.

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