An issue of Community Health Systems, Inc. (NYSE:CYH) debt rose 1.8% against its face value during trading on Thursday. 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 $88.81 and were trading at $87.25 last week. Price changes in a company’s debt in credit markets often anticipate parallel changes in its stock price.

Several analysts 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. BidaskClub raised Community Health Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. 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. Finally, 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. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. Community Health Systems currently has a consensus rating of “Hold” and an average price target of $7.52.

Shares of Community Health Systems, Inc. (CYH) traded up 3.68% during trading on Thursday, hitting $6.20. The stock had a trading volume of 2,692,345 shares. Community Health Systems, Inc. has a 52 week low of $4.15 and a 52 week high of $10.60. The firm has a 50-day moving average price of $7.10 and a 200 day moving average price of $8.28. The company’s market capitalization is $694.00 million.

Community Health Systems (NYSE:CYH) last issued its earnings results on Tuesday, August 1st. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.31). The company had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $4.14 billion. Community Health Systems had a negative net margin of 3.63% and a positive return on equity of 0.07%. The company’s revenue was down 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 earnings per share. Equities analysts anticipate that Community Health Systems, Inc. will post ($0.37) earnings per share for the current year.

In related news, major shareholder Tian Qiao Chen bought 9,766,897 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average cost of $7.27 per share, for a total transaction of $71,005,341.19. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.70% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Alps Advisors Inc. purchased a new stake in Community Health Systems during the 2nd quarter valued at about $107,000. Shelton Capital Management purchased a new stake in Community Health Systems during the 2nd quarter valued at about $110,000. Fox Run Management L.L.C. purchased a new stake in Community Health Systems during the 2nd quarter valued at about $126,000. Nomura Asset Management Co. Ltd. boosted its holdings in Community Health Systems by 134.4% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 14,300 shares of the company’s stock valued at $127,000 after acquiring an additional 8,200 shares during the period. Finally, Group One Trading L.P. boosted its holdings 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 valued at $147,000 after acquiring an additional 3,189 shares during the period. Institutional investors own 94.69% 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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