CYH) today announced that management will participate via teleconference in the 2020 RBC Capital Markets Global Healthcare Conference to be held on May 19-20, 2020. The investor presentation will begin at 3:05 p.m. Eastern time, 2:05 p.m. Central time, on Tuesday, May 19, 2020, and will be available to investors via a live audio webcast. A link to the broadcast can be found at the investor relations section of the Company.
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 99 affiliated hospitals in 17 states with an aggregate of approximately 16,000 licensed beds. The cyh stock at https://www.webull.com/newslist/nyse-cyh Company’s headquarters are located in Franklin, Tennessee, a suburb south of Nashville. Shares in Community Health Systems, Inc. are traded on the New York Stock Exchange under the symbol “CYH
Options Traders Blast Struggling Hospital Stock
Hospitals are a hot-button issue amid the coronavirus outbreak and the gradual re-opening of the economy. Piper Sandler yesterday identified hospital operators HCA Healthcare Inc (HCA) and Tenet Healthcare Corp (THC) as two names best equipped to withstand any sector uncertainty. Left off the list was Community Health Systems (NYSE: CYH), but that hasn’t stopped options traders from blasting the stock today nonetheless.
At last check, CYH stock options volume was running in the top percentile of its annual range. Over 20,000 options have crossed the tape — a whopping 126 times the intraday average, with an even skew between calls and puts. A deeper dive shows two options account for all of this likely spread activity; the July 5 call and put with 10,000 contracts exchanged apiece.
Triple whammy for hospitals, opposite for insurers
U.S. hospitals are losing around $50B per month due to a large number of canceled elective procedures, costs associated with treating COVID-19, and an increased number of uninsured patients. “I think it’s fair to say that hospitals are facing perhaps the greatest challenge that they have ever faced in their history,” said CEO of the American Hospital Association, Rick Pollack, calling the situation a “triple whammy.”
However, the net impact on U.S. health insurers is quite the opposite and is “going to be positive for them,” said Jeff Jonas of Gabelli Funds. “The costs from COVID-19 are going to be actually very small and more than outweighed by the deferral of elective procedures.” If you want to know more stock information like a bio, you can visit at https://www.webull.com/newslist/nasdaq-abio.