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4-Traders Homepage  >  Equities  >  Nyse  >  Community Health Systems    CYH

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Community Health : Chinese investor builds CHS stake to 20%+

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08/15/2017 | 06:00am CEST

The Chinese billionaire who last year became the main holder of Community Health Systems shares spent more than $70 million on Friday and Monday to build his firm's stake in the local hospital owner to 22.1 percent.

Tianqiao Chen's Shanda group of companies disclosed its latest buying spree Tuesday morning and said it has now invested nearly $257 million in CHS, which has struggled with high debt and the integration of Health Management Associates and whose stock is - despite a nice 2017 run - down almost 90 percent over the past three years.

In their filing with the Securities and Exchange Commission, Shanda officials - who switched their stance to active from passive early this year, when they owned nearly 14 percent of CHS - didn't discuss any plans to push for change at CHS, which has been unloading hospitals to cut its debt load. In March, the investors noted they have a good relationship with Chairman and CEO Wayne Smith and his team.

CHS officials could not be reached for comment Tuesday.

Shares of CHS (Ticker: CYH) soared more than 20 percent Friday on heavy volume - now explained by Shanda's filing - but have since retreated a good bit. On Tuesday afternoon, they were changing hands at $6.88, down 6 percent on the day but still up about 13 percent from their closing price last Thursday.

Shanda's cost basis in CHS is about $10.10.

© Copyright © 2017 SouthComm Publications, Nashville Post Magazine. All rights reserved., source Magazines

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Financials ($)
Sales 2017 15 974 M
EBIT 2017 988 M
Net income 2017 -198 M
Debt 2017 12 857 M
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018 140,04
EV / Sales 2017 0,86x
EV / Sales 2018 0,91x
Capitalization 807 M
Chart COMMUNITY HEALTH SYSTEMS
Duration : Period :
Community Health Systems Technical Analysis Chart | CYH | US2036681086 | 4-Traders
Technical analysis trends COMMUNITY HEALTH SYSTEMS
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Average target price 7,26 $
Spread / Average Target 3,3%
EPS Revisions
Managers
NameTitle
Wayne T. Smith Chairman & Chief Executive Officer
Tim L. Hingtgen President, Chief Operating Officer & Director
Thomas J. Aaron Chief Financial Officer & Executive Vice President
Lynn T. Simon Chief Quality Officer
Manish Shah Chief Information Officer & Senior Vice President
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