An issue of Community Health Systems, Inc. (NYSE:CYH) bonds fell 1.7% as a percentage of their face value during trading on Friday. The high-yield debt issue has a 7.125% coupon and will mature on July 15, 2020. The debt is now trading at $92.00 and was trading at $94.00 last week. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its share price.

Several equities research analysts have recently commented on CYH shares. Morgan Stanley started coverage on Community Health Systems in a report on Tuesday, June 6th. They set an “underweight” rating and a $9.50 price objective for the company. BidaskClub upgraded Community Health Systems from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Zacks Investment Research upgraded Community Health Systems from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Tuesday, July 11th. Piper Jaffray Companies reiterated a “sell” rating and set a $9.00 price target on shares of Community Health Systems in a report on Wednesday, July 26th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $7.00 price target on shares of Community Health Systems in a report on Sunday, July 30th. Six research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have assigned a buy rating to the company. Community Health Systems has a consensus rating of “Hold” and an average target price of $7.84.

Community Health Systems, Inc. (NYSE:CYH) traded up 1.10% on Friday, reaching $7.36. The company’s stock had a trading volume of 3,402,776 shares. Community Health Systems, Inc. has a 12-month low of $4.15 and a 12-month high of $11.74. The company’s 50 day moving average price is $7.16 and its 200-day moving average price is $8.63. The stock’s market cap is $823.84 million.

Community Health Systems (NYSE:CYH) last released its earnings results on Tuesday, August 1st. The company reported ($0.25) earnings per share for the quarter, missing the Thomson Reuters’ 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%. Community Health Systems’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.09 earnings per share. On average, equities analysts expect that Community Health Systems, Inc. will post ($0.31) EPS for the current year.

In related news, major shareholder Tian Qiao Chen bought 9,766,897 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. 4.70% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Verition Fund Management LLC lifted its position in Community Health Systems by 105.0% during the second quarter. Verition Fund Management LLC now owns 56,589 shares of the company’s stock valued at $564,000 after purchasing an additional 28,989 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in Community Health Systems during the second quarter valued at $247,000. Sterling Capital Management LLC lifted its position in Community Health Systems by 44.9% during the second quarter. Sterling Capital Management LLC now owns 39,069 shares of the company’s stock valued at $389,000 after purchasing an additional 12,097 shares in the last quarter. BlueCrest Capital Management Ltd purchased a new position in Community Health Systems during the second quarter valued at $244,000. Finally, Gotham Asset Management LLC lifted its position in Community Health Systems by 102.8% during the second quarter. Gotham Asset Management LLC now owns 963,388 shares of the company’s stock valued at $9,595,000 after purchasing an additional 488,336 shares in the last quarter. Institutional investors own 94.69% 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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