The stock of Tenet Healthcare Corp (NYSE:THC) is a huge mover today! About 2.43M shares traded hands or 16.27% up from the average. Tenet Healthcare Corp (NYSE:THC) has declined 14.33% since February 26, 2016 and is downtrending. It has underperformed by 24.75% the S&P500.
The move comes after 8 months positive chart setup for the $2.22 billion company. It was reported on Oct, 1 by Barchart.com. We have $28.17 PT which if reached, will make NYSE:THC worth $532.80M more.
Analysts await Tenet Healthcare Corp (NYSE:THC) to report earnings on November, 7. They expect $0.19 EPS, down 34.48% or $0.10 from last year’s $0.29 per share. THC’s profit will be $18.57M for 29.89 P/E if the $0.19 EPS becomes a reality. After $0.38 actual EPS reported by Tenet Healthcare Corp for the previous quarter, Wall Street now forecasts -50.00% negative EPS growth.
Tenet Healthcare Corp (NYSE:THC) Ratings Coverage
Out of 11 analysts covering Tenet Healthcare Corporation (NYSE:THC), 4 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 36% are positive. Tenet Healthcare Corporation has been the topic of 24 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Mizuho maintained the stock with “Neutral” rating in Wednesday, December 2 report. Citigroup maintained Tenet Healthcare Corp (NYSE:THC) on Thursday, August 4 with “Neutral” rating. The firm has “Neutral” rating by Goldman Sachs given on Tuesday, July 21. On Wednesday, May 4 the stock rating was downgraded by Mizuho to “Neutral”. BMO Capital Markets upgraded the stock to “Outperform” rating in Monday, August 31 report. On Wednesday, April 13 the stock rating was upgraded by Susquehanna to “Positive”. The stock of Tenet Healthcare Corp (NYSE:THC) earned “Neutral” rating by Citigroup on Friday, October 2. The rating was downgraded by Wells Fargo to “Market Perform” on Monday, January 4. The stock of Tenet Healthcare Corp (NYSE:THC) earned “Neutral” rating by Citigroup on Wednesday, May 4. The firm earned “Buy” rating on Tuesday, January 19 by Mizuho.
According to Zacks Investment Research, “Tenet Healthcare Corp. is an investor-owned health care services company. The company owns or operates general hospitals and related health care facilities serving urban and rural communities in numerous states, and holds investments in other health care companies. The related health care facilities includes a small number of rehabilitation hospitals, specialty hospitals, and long-term care facilities.”
Insitutional Activity: The institutional sentiment decreased to 0.75 in 2016 Q2. Its down 0.15, from 0.9 in 2016Q1. The ratio dived, as 50 funds sold all Tenet Healthcare Corp shares owned while 92 reduced positions. 36 funds bought stakes while 71 increased positions. They now own 96.93 million shares or 0.90% less from 97.81 million shares in 2016Q1.
The New York-based Tipp Hill Cap Ltd Liability Company has invested 21.04% in Tenet Healthcare Corp (NYSE:THC). Moreover, Highbridge Management Limited Liability Company has 0.02% invested in Tenet Healthcare Corp (NYSE:THC) for 40,119 shares. Savant Capital Ltd has 8,060 shares for 0.06% of their US portfolio. National Bank & Trust Of New York Mellon holds 0.01% of its portfolio in Tenet Healthcare Corp (NYSE:THC) for 1.30M shares. Price T Rowe Md last reported 0% of its portfolio in the stock. New Jersey Better Educational Savings has 0.41% invested in the company for 22,000 shares. Paloma Prtn Mngmt Com last reported 75,569 shares in the company. Carlson Cap Ltd Partnership owns 47,396 shares or 0.02% of their US portfolio. Moreover, Swiss Financial Bank has 0.01% invested in Tenet Healthcare Corp (NYSE:THC) for 164,900 shares. Tekla Cap last reported 164,500 shares in the company. Cornerstone Advisors accumulated 0% or 64 shares. Barclays Public Ltd Llc reported 275,406 shares or 0.01% of all its holdings. Spark Investment Mngmt Ltd Liability Corporation has invested 0.09% of its portfolio in Tenet Healthcare Corp (NYSE:THC). Parametric Port Limited Liability last reported 0.01% of its portfolio in the stock. Bnp Paribas Partners has invested 0% of its portfolio in Tenet Healthcare Corp (NYSE:THC).
Another recent and important Tenet Healthcare Corp (NYSE:THC) news was published by Nasdaq.com which published an article titled: “Commit To Buy Tenet Healthcare Corp. At $13, Earn 9.2% Using Options” on September 27, 2016.
THC Company Profile
Tenet Healthcare Corporation (Tenet), incorporated on November 7, 1975, is a healthcare services company. The Firm operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets in the United States. The Firm operates through three divisions: Hospital Operations and Other, Ambulatory Care and Conifer. With its networks, including acute care and specialty hospitals, which are engaged in providing outpatient facilities and related businesses, the Company provides a range of healthcare services in the communities it serve. The Firm operates approximately 90 hospitals, 20 short-stay surgical hospitals, 475 outpatient centers and nine facilities in the United Kingdom and six health plans through its subsidiaries, partnerships and joint ventures. In addition, the Company’s Conifer Holdings, Inc. (Conifer) subsidiary provide healthcare business process services in the areas of revenue cycle management and technology-enabled performance improvement and health management solutions to health systems, as well as individual hospitals, physician practices, self-insured organizations and health plans. The Firm manages the activities of Hi-Desert Medical Center, which is its hospital that has approximately 60 beds, as well as a 120-bed skilled nursing facility, an ambulatory surgery center and an imaging center on the hospital’s campus in Joshua Tree, California.
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