The stock of Tenet Healthcare Corp (NYSE:THC) is a huge mover today! The stock decreased 4.02% or $0.91 during the last trading session, hitting $21.75. About 2.05 million shares traded hands. Tenet Healthcare Corp (NYSE:THC) has declined 15.86% since March 1, 2016 and is downtrending. It has underperformed by 28.08% the S&P500.
The move comes after 5 months negative chart setup for the $2.23 billion company. It was reported on Oct, 4 by Barchart.com. We have $20.01 PT which if reached, will make NYSE:THC worth $178.40M less.
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 $19.48 million for 28.62 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. On Friday, September 4 the stock rating was upgraded by BMO Capital Markets to “Outperform”. Mizuho maintained it with “Neutral” rating and $34 target price in Wednesday, December 2 report. The firm has “Neutral” rating given on Tuesday, July 21 by Goldman Sachs. The stock of Tenet Healthcare Corp (NYSE:THC) has “Underperform” rating given on Monday, June 13 by Ladenburg Thalmann. Mizuho downgraded the stock to “Neutral” rating in Wednesday, May 4 report. Citigroup maintained the shares of THC in a report on Thursday, August 4 with “Neutral” rating. The firm earned “Neutral” rating on Wednesday, December 16 by Credit Suisse. The company was upgraded on Wednesday, April 13 by Susquehanna. Citigroup initiated Tenet Healthcare Corp (NYSE:THC) on Friday, October 2 with “Neutral” rating. The firm earned “Neutral” rating on Wednesday, May 4 by Citigroup.
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 dropped, 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.
Moreover, Swiss Commercial Bank has 0.01% invested in Tenet Healthcare Corp (NYSE:THC) for 164,900 shares. Perkins Capital Mgmt holds 14,600 shares or 0.46% of its portfolio. Oppenheimer Com accumulated 0.02% or 19,267 shares. State Of Wisconsin Board last reported 0.01% of its portfolio in the stock. Moreover, London Of Virginia has 0.99% invested in Tenet Healthcare Corp (NYSE:THC) for 4.66 million shares. Pub Employees Retirement Association Of Colorado holds 0.01% of its portfolio in Tenet Healthcare Corp (NYSE:THC) for 25,184 shares. Moreover, Clinton Incorporated has 0.18% invested in Tenet Healthcare Corp (NYSE:THC) for 151,221 shares. Guggenheim Cap Ltd Company, a Illinois-based fund reported 86,714 shares. Moreover, Cap Guardian Trust has 0% invested in Tenet Healthcare Corp (NYSE:THC) for 56 shares. Fmr Ltd Com has invested 0.02% of its portfolio in Tenet Healthcare Corp (NYSE:THC). Gemmer Asset Mngmt Ltd Co owns 93 shares or 0% of their US portfolio. California Employees Retirement Systems has 596,010 shares for 0.03% of their US portfolio. Royal Savings Bank Of Canada last reported 0.01% of its portfolio in the stock. Bbt Capital Limited Liability Corporation accumulated 224,800 shares or 0.96% of the stock. Ameritas Inv Prtnrs Inc holds 15,702 shares or 0.03% of its portfolio.
More news for Tenet Healthcare Corp (NYSE:THC) were recently published by: Wsj.com, which released: “Tenet Healthcare to Pay $514 Million to Settle Kickback Allegations” on October 03, 2016. Nasdaq.com‘s article titled: “Commit To Buy Tenet Healthcare Corp. At $13, Earn 9.2% Using Options” and published on September 27, 2016 is yet another important article.
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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