An issue of Community Health Systems (NYSE:CYH) bonds rose 3.5% as a percentage of their face value during trading on Friday. The debt issue has a 7.125% coupon and is set to mature on July 15, 2020. The debt is now trading at $93.75 and was trading at $92.00 one week ago. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its share price.
CYH has been the topic of a number of recent analyst reports. Piper Jaffray Companies began coverage on Community Health Systems in a research note on Wednesday, January 4th. They set a “neutral” rating and a $6.00 price target on the stock. Vetr lowered Community Health Systems from a “sell” rating to a “strong sell” rating and set a $7.83 target price on the stock. in a research report on Monday, March 27th. Zacks Investment Research raised Community Health Systems from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 31st. Mizuho restated a “hold” rating on shares of Community Health Systems in a research note on Monday, March 13th. Finally, Barclays PLC reiterated a “hold” rating and issued a $7.00 price target on shares of Community Health Systems in a research note on Monday, January 9th. Seven investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $8.82.
Community Health Systems (NYSE:CYH) traded down 1.32% during mid-day trading on Friday, reaching $8.24. 2,622,255 shares of the company were exchanged. Community Health Systems has a 12-month low of $4.15 and a 12-month high of $21.38. The company’s 50 day moving average price is $9.01 and its 200-day moving average price is $7.48. The stock’s market capitalization is $913.87 million.
Hedge funds have recently made changes to their positions in the stock. BlackRock Fund Advisors raised its stake in shares of Community Health Systems by 6.3% in the third quarter. BlackRock Fund Advisors now owns 6,400,503 shares of the company’s stock worth $73,862,000 after buying an additional 379,664 shares during the period. BlackRock Inc. raised its stake in shares of Community Health Systems by 3.3% in the third quarter. BlackRock Inc. now owns 79,456 shares of the company’s stock worth $916,000 after buying an additional 2,545 shares during the period. BlackRock Investment Management LLC raised its stake in shares of Community Health Systems by 0.5% in the third quarter. BlackRock Investment Management LLC now owns 737,940 shares of the company’s stock worth $8,516,000 after buying an additional 3,427 shares during the period. BlackRock Advisors LLC raised its stake in Community Health Systems by 11.1% in the third quarter. BlackRock Advisors LLC now owns 59,143 shares of the company’s stock valued at $683,000 after buying an additional 5,926 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in Community Health Systems by 2.9% in the third quarter. UBS Asset Management Americas Inc. now owns 183,456 shares of the company’s stock valued at $2,117,000 after buying an additional 5,100 shares during the last quarter.
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.
