The stock of Tenet Healthcare Corp (NYSE:THC) hit a new 52-week low and has $19.61 target or 5.00% below today’s $20.64 share price. The 5 months bearish chart indicates high risk for the $2.00B company. The 1-year low was reported on Oct, 7 by Barchart.com. If the $19.61 price target is reached, the company will be worth $100.00M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 1.68M shares traded hands. Tenet Healthcare Corp (NYSE:THC) has declined 22.14% since March 4, 2016 and is downtrending. It has underperformed by 30.18% the S&P500.
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 $18.41M for 27.16 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 25 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Susquehanna upgraded the stock to “Positive” rating in Wednesday, April 13 report. Credit Suisse maintained the shares of THC in a report on Thursday, March 24 with “Neutral” rating. Mizuho maintained Tenet Healthcare Corp (NYSE:THC) rating on Wednesday, October 5. Mizuho has “Neutral” rating and $22 price target. Zacks downgraded the shares of THC in a report on Friday, August 7 to “Buy” rating. The company was initiated on Wednesday, December 16 by Credit Suisse. Barclays Capital initiated it with “Overweight” rating and $62 target price in Thursday, September 10 report. As per Wednesday, December 2, the company rating was maintained by Mizuho. The stock of Tenet Healthcare Corp (NYSE:THC) has “Neutral” rating given on Wednesday, May 4 by Mizuho. The firm has “Outperform” rating given on Monday, August 31 by BMO Capital Markets. The company was upgraded on Monday, June 13 by Ladenburg Thalmann.
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 fall, 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, Advantus Cap Incorporated has 0.01% invested in Tenet Healthcare Corp (NYSE:THC) for 12,026 shares. The Massachusetts-based Commonwealth Equity Services has invested 0% in Tenet Healthcare Corp (NYSE:THC). Tipp Hill Management Ltd owns 50,000 shares or 21.04% of their US portfolio. Hutchin Hill Cap L P holds 0.05% of its portfolio in Tenet Healthcare Corp (NYSE:THC) for 55,400 shares. Cwm Ltd Llc holds 0% of its portfolio in Tenet Healthcare Corp (NYSE:THC) for 150 shares. Aperio Group Ltd Liability has invested 0.01% of its portfolio in Tenet Healthcare Corp (NYSE:THC). Essex Inv Management Ltd Liability Corporation holds 0.05% of its portfolio in Tenet Healthcare Corp (NYSE:THC) for 10,521 shares. California State Teachers Retirement last reported 0.01% of its portfolio in the stock. Winslow Asset Incorporated has 225,850 shares for 1.4% of their US portfolio. Symphony Asset Mngmt Limited Liability Com holds 0.03% of its portfolio in Tenet Healthcare Corp (NYSE:THC) for 10,269 shares. Guggenheim Cap Ltd Company holds 0.01% or 86,714 shares in its portfolio. The Connecticut-based Cubist Systematic Strategies Limited Liability Corporation has invested 0.01% in Tenet Healthcare Corp (NYSE:THC). M&T Commercial Bank holds 0.01% or 27,836 shares in its portfolio. Weaver C Barksdale Assoc Incorporated last reported 2,957 shares in the company. Amer Grp reported 191,043 shares or 0% of all its holdings.
More recent Tenet Healthcare Corp (NYSE:THC) news were published by: Wsj.com which released: “Tenet Healthcare to Pay $514 Million to Settle Kickback Allegations” on October 03, 2016. Also Businesswire.com published the news titled: “Tenet Healthcare Finalizes Previously Disclosed Agreement to Resolve Clinica …” on October 03, 2016. Prnewswire.com‘s news article titled: “TENET NOTIFICATION: Faruqi & Faruqi, LLP Encourages Investors Who Suffered …” with publication date: October 04, 2016 was also an interesting one.
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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