The stock of Tenet Healthcare Corp (NYSE:THC) is a huge mover today! About 4.28 million shares traded hands or 93.67% up from the average. Tenet Healthcare Corp (NYSE:THC) has declined 16.55% since March 10, 2016 and is downtrending. It has underperformed by 24.07% the S&P500.
The move comes after 6 months positive chart setup for the $2.27B company. It was reported on Oct, 13 by Barchart.com. We have $27.00 PT which if reached, will make NYSE:THC worth $454.00 million 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 $19.17 million for 29.61 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. The rating was downgraded by Zacks to “Buy” on Friday, August 7. The rating was downgraded by Mizuho to “Neutral” on Thursday, October 22. As per Friday, September 4, the company rating was upgraded by BMO Capital Markets. The rating was maintained by Citigroup on Wednesday, May 4 with “Neutral”. JP Morgan initiated the stock with “Neutral” rating in Wednesday, September 16 report. The stock of Tenet Healthcare Corp (NYSE:THC) has “Neutral” rating given on Wednesday, December 2 by Mizuho. The stock of Tenet Healthcare Corp (NYSE:THC) earned “Neutral” rating by Credit Suisse on Thursday, March 24. Barclays Capital initiated Tenet Healthcare Corp (NYSE:THC) on Thursday, September 10 with “Overweight” rating. Credit Suisse initiated the stock with “Neutral” rating in Wednesday, December 16 report. The firm has “Neutral” rating given on Wednesday, May 4 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 Q2 2016. 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.
Orbimed Advisors Ltd owns 915,300 shares or 0.26% of their US portfolio. Eaton Vance Mngmt has 44,863 shares for 0% of their US portfolio. Moreover, Coastland Cap Ltd Liability has 0.21% invested in Tenet Healthcare Corp (NYSE:THC) for 189,270 shares. Schwab Charles Invest Mgmt last reported 0.01% of its portfolio in the stock. Deltec Asset Mgmt Limited Liability Company accumulated 235,308 shares or 1.64% of the stock. The Texas-based Teacher Retirement Of Texas has invested 0% in Tenet Healthcare Corp (NYSE:THC). State Treasurer State Of Michigan has invested 0.01% of its portfolio in Tenet Healthcare Corp (NYSE:THC). Tekla Cap Mngmt Lc, a Massachusetts-based fund reported 164,500 shares. Guggenheim Capital Limited Liability accumulated 86,714 shares or 0.01% of the stock. Nuveen Asset Mgmt last reported 0.01% of its portfolio in the stock. Cornerstone Advsrs Incorporated reported 64 shares or 0% of all its holdings. Estabrook, a New York-based fund reported 30 shares. Omers Administration last reported 0.04% of its portfolio in the stock. Globeflex Capital Limited Partnership last reported 0.23% of its portfolio in the stock. Ladenburg Thalmann Ser holds 0.01% of its portfolio in Tenet Healthcare Corp (NYSE:THC) for 12,923 shares.
More notable 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 Prnewswire.com with their article: “Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Tenet Healthcare Corp.” published on October 10, 2016, Businesswire.com published: “TENET INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick …” on October 08, 2016. More interesting news about Tenet Healthcare Corp (NYSE:THC) were released by: Businesswire.com and their article: “Robbins Arroyo LLP Is Investigating the Officers and Directors of Tenet …” published on October 06, 2016 as well as Prnewswire.com‘s news article titled: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation …” with publication date: October 05, 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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