Community Health Systems, Inc.NYSE
Community Health: Volatile Credit Markets Are Tough For Reforming Serial Acquirers
Darspal S Mann • 12 Comments
Darspal S Mann • 12 Comments
Community Health Systems Confirms Negative Industry Trends
Alpha Gen Capital
Alpha Gen Capital
Wed, Dec. 7, 7:29 AM
- Almost Family (NASDAQ:AFAM) announces that it has entered into a new five-year $350M revolving credit facility that increases its financial flexibility through 2021. It replaces its previous $175M credit facility. The new facility includes an accordion feature which permits expansion up to $500M.
- The Company also announced that it cleared the necessary regulatory approvals to acquire a controlling interest in the entity holding the home health and hospice assets of Community Health Systems (NYSE:CYH). The Company expects to fund the acquisition on December 30.
Tue, Nov. 22, 4:59 PM
- "Tenet Healthcare (THC -5.1%) presents a problem because of its high leverage," says Mizuho's Sheryl Skolnick in this morning's downgrade of the stock to Underperform. Even at her price target of $13, she says, the shares still wouldn't be terribly cheap.
- At $17 (the price before today's open), Tenet trades at a premium to HCA Holdings (HCA -3.9%) - not fair, she says, as HCA has free cash flow, and Tenet doesn't.
- Others: Community Health Systems (CYH -1.4%), LifePoint Health (LPNT -2.5%), Quorum Health (QHC -4.1%)
Mon, Nov. 21, 4:43 PM
Fri, Nov. 18, 7:31 AM
- Community Health Systems (NYSE:CYH) inks an agreement to sell Rockwood Health System to MultiCare Health System for $425M, subject to adjustments. The deal includes the 388-bed Deaconess Hospital in Spokane, 123-bed Valley Hospital in Spokane Valley and the multi-specialty Rockwood Clinic, all located in Washington.
- The transaction should close in Q1 2017. CYH will use the proceeds to pay down debt.
Mon, Nov. 14, 4:42 PM
- New positions for Greenlight Capital as of Sept. 30: U.S. Steel (NYSE:X), and GEO Group (NYSE:GEO).
- Major exits: Twenty-First Century Fox (NASDAQ:FOXA), Humana (NYSE:HUM), Perrigo (NASDAQ:PRGO), AmerisourceBergen (NYSE:ABC), Hertz (NYSE:HTZ), Community Health (NYSE:CYH), Lamar Advertising (NASDAQ:LAMR), Vodafone (NASDAQ:VOD).
Fri, Nov. 11, 9:25 AM
Wed, Nov. 9, 12:42 PM
Wed, Nov. 9, 11:06 AM
Wed, Nov. 9, 9:16 AM
Wed, Nov. 9, 8:29 AM
- Hospital groups look a bit sickly premarket as investors appear to perceive a less-than-robust future under a Trump presidency.
- Sampling: (NYSE:HUM) -2%; (NYSE:HCA) -16%; (NYSE:THC) -26%; (NYSE:CYH) -18%; (NYSE:UHS) -10%; (NYSE:SEM) -7%; (NASDAQ:LPNT) -12%
- Healthcare services are weak as well: (NYSE:UNH) -3%; (NYSE:MOH) -8%; (NASDAQ:AMSG) -11%; (NASDAQ:AMED) -3%; (NYSE:EVHC) -5%
Mon, Nov. 7, 11:30 AM
- Investors are moving back into hospital groups in early trading on what appears to be a collective sigh of relief that the FBI investigation into candidate Clinton's email management while Secretary of State has been shut down. The investigative agency reiterated its statement that she is not guilty of any crime. In other words, she is "on go" to be elected President.
- Representative tickers: (HUM +3.8%)(THC +13.5%)(HCA +5%)(CYH +9.1%)(UHS +4.3%)(SEM +7.4%)(LPNT +4.8%)
Mon, Nov. 7, 9:17 AM
Tue, Nov. 1, 4:34 PM
Mon, Oct. 31, 5:35 PM
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Fri, Oct. 28, 1:02 PM
- United Therapeutics (NASDAQ:UTHR) upgraded to Buy from Neutral by Ladenburg Thalmann. Price target raised to $138 (18% upside) from $128.
- NeoGenomics (NASDAQ:NEO) upgraded to Buy from Neutral with a $10 (25% upside) price target by BTIG Research.
- Pacira Pharmaceuticals (NASDAQ:PCRX) upgraded to Market Perform from Underperform by BMO Capital. Price target raised to $36 (8% upside) from $35.
- Alkermes (NASDAQ:ALKS) upgraded to Overweight from Neutral by JPMorgan. Price target raised to $78 (53% upside) from $51.
- McKesson (NYSE:MCK) downgraded to Neutral from Outperform by Baird. Price target lowered to $164 (34% upside) from $200. Also downgraded by Standpoint Research, Deutsche Bank and Leerink Swann.
- Community Health Systems (NYSE:CYH) downgraded to Underperform from Neutral by Baird. Price target lowered to $8 (47% upside) from $12.
- TeamHealth Holdings (NYSE:TMH) downgraded to Market Perform from Outperform by Leerink Swann. Price target raised to $43 (17% upside) from $40..
- ARIAD Pharmaceuticals (NASDAQ:ARIA) downgraded to Market Perform from Market Outperform by JMP Securities. Price target raised to $9.37 (7% upside) from $4.37.
- Vertex Pharmaceuticals (NASDAQ:VRTX) downgraded to Neutral from Buy by H.C. Wainwright. Price target lowered to $85 (8% upside) from $155.
- Teva Pharmaceutical Industries (NASDAQ:TEVA) downgraded to Neutral from Buy by Mizuho. Price target lowered to $45 (7% upside) from $64.
Thu, Oct. 27, 12:50 PM