Community Health Systems, Inc. is one of the largest publicly traded hospital companies in the United States and a leading operator of general acute care hospitals in communities across the country. The Company, through its subsidiaries, owns, leases or operates 85 affiliated hospitals in 16 states with an aggregate of approximately 14,000 licensed beds. The Company's headquarters are located in Franklin, Tennessee, a suburb south of Nashville.

Company profile
Ticker
CYH
Exchange
Website
CEO
Wayne T. Smith
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
COMMUNITY HEALTH SYSTEMS INC/
SEC CIK
Corporate docs
Subsidiaries
Abilene Clinic Asset Holding Company, LLC • Abilene Hospital, LLC • Abilene Merger, LLC • Access Center Services, LLC • Affinity Cardio-Thoracic Specialists, LLC • Affinity Cardiovascular Specialists, LLC • Affinity Gastroenterology ASC, LLC • Affinity Health Systems, LLC • Affinity Hospital, LLC • Affinity Orthopedic Specialists, LLC ...
IRS number
133893191
CYH stock data
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Press releases
Community Health Systems, Inc. Announces Second Quarter Ended June 30, 2022 Results
27 Jul 22
Healthcare Companies with Catalysts This Week (WHSI, OSUR, INO, CYH, BEAT)
27 Jul 22
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22 Jul 22
Community Health Systems to Webcast Second Quarter Conference Call
13 Jul 22
Analyst ratings and price targets
Current price
Average target
$5.75
Low target
$5.00
High target
$6.50
Credit Suisse
Maintains
$6.50
Oppenheimer
Maintains
$6.00
Loop Capital
Initiated
$5.00
B of A Securities
Downgraded
$5.50
Calendar
28 Jul 22
18 Aug 22
31 Dec 22
Financial summary
Quarter (USD) | Jun 22 | Mar 22 | Dec 21 | Sep 21 | |
---|---|---|---|---|---|
Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
---|---|---|---|---|---|
Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 346M | 346M | 346M | 346M | 346M | 346M |
Cash burn (monthly) | 38M | 75.33M | (no burn) | (no burn) | (no burn) | 21.42M |
Cash used (since last report) | 62.61M | 124.11M | n/a | n/a | n/a | 35.28M |
Cash remaining | 283.39M | 221.89M | n/a | n/a | n/a | 310.72M |
Runway (months of cash) | 7.5 | 2.9 | n/a | n/a | n/a | 14.5 |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
2 Aug 22 | Wayne T Smith | Common Stock | Buy | Acquire P | No | No | 2.94 | 800,000 | 2.35M | 4,059,196 |
1 Aug 22 | Wayne T Smith | Common Stock | Buy | Acquire P | No | No | 3 | 200,000 | 600K | 3,259,196 |
30 Jun 22 | K Ranga Krishnan | Common Stock | Option exercise | Acquire M | No | No | 0 | 37,957 | 0 | 109,143 |
30 Jun 22 | K Ranga Krishnan | Stock Units (SU) Common Stock | Grant | Acquire A | No | No | 3.75 | 8,666.667 | 32.5K | 11,404.662 |
30 Jun 22 | K Ranga Krishnan | Stock Units (SU) Common Stock | Option exercise | Dispose M | No | No | 0 | 37,957.011 | 0 | 2,737.995 |
2 Jun 22 | James S. Ely III | Common Stock | Buy | Acquire P | No | No | 5 | 10,000 | 50K | 301,299 |
1 Jun 22 | Susan W Brooks | RSU Common Stock | Grant | Acquire A | No | No | 5 | 17,682 | 88.41K | 17,682 |
1 Jun 22 | Mark B Medley | Common Stock | Payment of exercise | Dispose F | No | No | 5 | 1,574 | 7.87K | 58,135 |
1 Jun 22 | James S. Ely III | Common Stock | Buy | Acquire P | No | No | 5.087 | 30,000 | 152.61K | 291,299 |
31 May 22 | James S. Ely III | Common Stock | Buy | Acquire P | No | No | 5.12 | 10,000 | 51.2K | 261,299 |
Institutional ownership, Q2 2022
92.4% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 217 |
Opened positions | 41 |
Closed positions | 37 |
Increased positions | 93 |
Reduced positions | 48 |
13F shares | Current |
---|---|
Total value | 519M |
Total shares | 124.43M |
Total puts | 2.14M |
Total calls | 600.6K |
Total put/call ratio | 3.6 |
Largest owners | Shares | Value |
---|---|---|
BLK Blackrock | 19.95M | $74.81M |
Vanguard | 9.47M | $35.53M |
BEN Franklin Resources | 8.5M | $31.89M |
Eversept Partners | 8.06M | $30.23M |
Shanda Media | 6.44M | $61.48M |
D. E. Shaw & Co. | 4.63M | $17.35M |
STT State Street | 4.48M | $16.8M |
IVZ Invesco | 4.4M | $16.48M |
DG Capital Management | 3.69M | $13.85M |
Dimensional Fund Advisors | 2.58M | $9.69M |
Financial report summary
?Risks
- Risks Related to Our Business
- Risks Related to Legal Proceedings
- Risks Related to Government Regulation
- Risks Related to Impairment
- Risks Related to Cybersecurity and Technology
- We may not be able to generate sufficient cash to service all of our indebtedness, and we may be forced to take other actions to satisfy our obligations under our indebtedness, which may not be successful.
- We have a substantial amount of indebtedness under certain series of our outstanding notes and other debt scheduled to mature in close proximity to each other.
- Restrictive covenants in the agreements governing our indebtedness may adversely affect us.
- Our variable rate indebtedness subjects us to interest rate risk, which could cause our debt service obligations to increase significantly.
- If we default on our obligations to pay our indebtedness, or if we otherwise fail to comply with the various covenants in the instruments governing our indebtedness, we could be in default under the terms of the agreements governing our indebtedness.
- If we are unable to complete divestitures as we may deem advisable, our results of operations and financial condition could be adversely affected.
- The impact of past acquisitions, as well as potential future acquisitions, could have a negative effect on our operations.
- If we are unable to effectively compete, patients could use other hospitals and healthcare providers, and our business may otherwise be adversely impacted.
- The failure to obtain our medical supplies at favorable prices could cause our operating results to decline.
- If reimbursement rates paid by federal or state healthcare programs or commercial payors are reduced, if we are unable to maintain favorable contract terms with payors or comply with our payor contract obligations, if insured individuals move to insurance plans with greater coverage exclusions or narrower networks, or if insurance coverage is otherwise restricted or reduced, our net operating revenues may decline.
- If we experience continued growth in self-pay volume and revenues or if we experience continued deterioration in the collectability of patient responsibility accounts, our financial condition or results of operations could be adversely affected.
- The demand for services provided by our hospitals and affiliated providers can be impacted by factors beyond our control.
- A future pandemic, epidemic or outbreak of an infectious disease in the markets in which we operate or that otherwise impacts our facilities could adversely impact our business.
- Our performance depends on our ability to recruit and retain quality physicians.
- Our performance and labor costs have been, and may continue to be, adversely affected by competitive labor market conditions and the shortage of qualified nurses.
- The industry trend towards value-based purchasing may negatively impact our business.
- Our revenues are somewhat concentrated in a small number of states which will make us particularly sensitive to regulatory and economic changes in those states.
- We are the subject of various legal, regulatory and governmental proceedings that, if resolved unfavorably, could have an adverse effect on us, and we may be subject to other loss contingencies, both known and unknown.
- In connection with the final auditing and reporting requirements to which we are subject under the terms of the CIA, we could become subject to further action by the OIG, which could include the imposition of civil monetary penalties and/or the extension of the term of the CIA.
- If we fail to comply with extensive laws and government regulations, including fraud and abuse laws, we could suffer penalties or be required to make significant changes to our operations.
- If there are delays in regulatory updates by governmental entities to federal and state healthcare programs, we may experience increased volatility in our operating results as such delays may result in a timing difference between when such program revenues are earned and when they become known or estimable for purposes of accounting recognition.
- Security breaches, loss of data, and actual or perceived failures to comply with legal requirements regarding the privacy and security of health information or other regulated, sensitive or confidential information, or legal requirements regarding data privacy or data protection, and other cybersecurity incidents, could adversely affect our business, results of operations and financial condition.
- If our adoption and utilization of electronic health record systems fails to satisfy HHS standards, our consolidated results of operations could be adversely affected, and we may be adversely affected by changing and more burdensome interoperability requirements.
- State efforts to regulate the construction, acquisition or expansion of healthcare facilities could limit our ability to build or acquire additional healthcare facilities, renovate our facilities or expand the breadth of services we offer.
- State efforts to regulate the sale of hospitals operated by municipal or not-for-profit entities could prevent us from acquiring these types of hospitals.
- We may incur additional tax liabilities.
- If the fair value of our reporting unit declines, a material non-cash charge to earnings from impairment of our goodwill could result.
- A significant decline in operating results or other indicators of impairment at one or more of our facilities could result in a material, non-cash charge to earnings to impair the value of long-lived assets.
- Our operations could be significantly impacted by interruptions or restrictions in access to our information systems.
- If we fail to comply with our obligations under license or technology agreements with third parties, we may be required to pay damages and we could lose license rights that are critical to our business.
Management Discussion
- Our hospitals offer a broad variety of inpatient and outpatient medical and surgical services. These include general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic services, psychiatric and rehabilitation services. Historically, the strongest demand for hospital services generally occurs during January through April and the weakest demand for these services generally occurs during the summer months. Accordingly, eliminating the effects of new acquisitions and/or divestitures, our net operating revenues and earnings have generally been the highest during the first quarter and lowest during the third quarter.
- Items (b) – (e) are metrics used to manage our performance. These metrics provide useful insight to investors about the volume and acuity of services we provide, which aid in evaluating our financial results.
Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. junior Avg
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New words:
argument, Becerra, cancer, compounded, cyber, driven, forward, freestanding, heard, neutrality, nursing, oral, past, permanent, reclassified, reconciled, remedy, rounding, segment, taxable, unfavorable, unlawfully, unsecured, urgent, worsen
Removed:
beneficial, cared, caring, country, created, degree, deleveraging, disrupted, high, leased, mitigating, operator, outbreak, Overview, rationalization, region, respond, safety, seeking, sell, urban, workforce
Financial reports
Current reports
8-K
Community Health Systems, Inc. Announces Second Quarter
27 Jul 22
8-K
Submission of Matters to a Vote of Security Holders
11 May 22
8-K
Community Health Systems, Inc. Announces First Quarter
27 Apr 22
8-K
Departure of Directors or Certain Officers
28 Feb 22
8-K
Departure of Directors or Certain Officers
18 Feb 22
8-K
Community Health Systems, Inc. Announces Fourth Quarter
16 Feb 22
8-K
Entry into a Material Definitive Agreement
4 Feb 22
8-K
Community Health Systems, Inc. Announces Pricing of Senior Secured Notes Due 2030
20 Jan 22
8-K
Risks Related to the COVID-19 Pandemic
20 Jan 22
8-K
Community Health Systems, Inc. Announces Offering
20 Jan 22
Registration and prospectus
S-3ASR
Automatic shelf registration
18 Feb 22
S-8
Registration of securities for employees
29 Jul 21
S-8
Registration of securities for employees
29 Jul 21
S-8
Registration of securities for employees
29 Jul 20
S-3ASR
Automatic shelf registration
11 Mar 19
25-NSE
Exchange delisting
11 Jan 19
S-8
Registration of securities for employees
31 Jul 18
424B5
Prospectus supplement for primary offering
10 May 17
FWP
Free writing prospectus
9 May 17
424B5
Prospectus supplement for primary offering
8 May 17
Proxies
DEFA14A
Additional proxy soliciting materials
31 Mar 22
DEFA14A
Additional proxy soliciting materials
1 Apr 21
DEFA14A
Additional proxy soliciting materials
24 Apr 20
DEFA14A
Additional proxy soliciting materials
2 Apr 20
DEFA14A
Additional proxy soliciting materials
4 Apr 19
DEF 14A
Definitive proxy
4 Apr 18
Other
UPLOAD
Letter from SEC
26 Apr 17
CORRESP
Correspondence with SEC
16 Apr 17
UPLOAD
Letter from SEC
3 Apr 17
NO ACT
No action letter
22 Jan 17
UPLOAD
Letter from SEC
5 Jan 17
CORRESP
Correspondence with SEC
22 Nov 16
UPLOAD
Letter from SEC
8 Nov 16
CORRESP
Correspondence with SEC
24 Oct 16
UPLOAD
Letter from SEC
10 Oct 16
CERTNYS
Certification of approval for NYSE listing
4 Oct 16
Ownership
SC 13G
COMMUNITY HEALTH SYSTEMS / Eversept Partners ownership change
15 Aug 22
4
COMMUNITY HEALTH SYSTEMS / WAYNE T SMITH ownership change
2 Aug 22
4
COMMUNITY HEALTH SYSTEMS / K Ranga Krishnan ownership change
30 Jun 22
4
COMMUNITY HEALTH SYSTEMS / MARK B MEDLEY ownership change
2 Jun 22
4
COMMUNITY HEALTH SYSTEMS / Susan W Brooks ownership change
2 Jun 22
4
COMMUNITY HEALTH SYSTEMS / James S. Ely III ownership change
2 Jun 22
3
COMMUNITY HEALTH SYSTEMS / Susan W Brooks ownership change
11 May 22
4
COMMUNITY HEALTH SYSTEMS / K Ranga Krishnan ownership change
31 Mar 22
4
COMMUNITY HEALTH SYSTEMS / KEVIN A STOCKTON ownership change
2 Mar 22
4
COMMUNITY HEALTH SYSTEMS / WAYNE T SMITH ownership change
2 Mar 22
Transcripts
2022 Q2
Earnings call transcript
28 Jul 22
2022 Q1
Earnings call transcript
28 Apr 22
2021 Q4
Earnings call transcript
17 Feb 22
2021 Q3
Earnings call transcript
28 Oct 21
2021 Q2
Earnings call transcript
29 Jul 21
2021 Q1
Earnings call transcript
30 Apr 21
2020 Q4
Earnings call transcript
18 Feb 21
2020 Q3
Earnings call transcript
28 Oct 20
2020 Q2
Earnings call transcript
29 Jul 20
2020 Q1
Earnings call transcript
29 Apr 20
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