The stock of Tenet Healthcare Corp (NYSE:THC) is a huge mover today! About 1.24 million shares traded hands. Tenet Healthcare Corp (NYSE:THC) has declined 16.20% since March 11, 2016 and is downtrending. It has underperformed by 21.65% the S&P500.
The move comes after 5 months negative chart setup for the $2.44 billion company. It was reported on Oct, 14 by Barchart.com. We have $21.44 PT which if reached, will make NYSE:THC worth $122.00M 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 $20.54 million for 29.70 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 stock has “Neutral” rating given by Mizuho on Thursday, October 22. Credit Suisse initiated the stock with “Neutral” rating in Wednesday, December 16 report. As per Wednesday, April 13, the company rating was upgraded by Susquehanna. The rating was upgraded by Ladenburg Thalmann to “Underperform” on Monday, June 13. The stock of Tenet Healthcare Corp (NYSE:THC) earned “Outperform” rating by BMO Capital Markets on Monday, August 31. Wells Fargo downgraded Tenet Healthcare Corp (NYSE:THC) on Monday, January 4 to “Market Perform” rating. The firm earned “Neutral” rating on Wednesday, May 4 by Citigroup. Mizuho maintained the shares of THC in a report on Wednesday, October 5 with “Neutral” rating. The stock of Tenet Healthcare Corp (NYSE:THC) earned “Buy” rating by Mizuho on Tuesday, January 19. The rating was initiated by Citigroup with “Neutral” on Friday, October 2.
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 worsened, 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.
Tower Rech Limited Liability Corporation (Trc) holds 3,647 shares or 0.01% of its portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) reported 3,009 shares or 0% of all its holdings. Allen Invest Limited Liability has 0.02% invested in the company for 11,492 shares. First Mercantile Tru last reported 6,000 shares in the company. Moreover, Bbt Cap Mngmt Ltd has 0.96% invested in Tenet Healthcare Corp (NYSE:THC) for 224,800 shares. Glenhill Advsr Ltd Liability Com last reported 1.30M shares in the company. Metropolitan Life Co Ny has 0.02% invested in the company for 96,372 shares. Coastland Limited Liability Co accumulated 189,270 shares or 0.21% of the stock. Harris Associates L P accumulated 8.33 million shares or 0.46% of the stock. First Trust Advisors Limited Partnership has 0.02% invested in the company for 186,835 shares. Voya Invest Limited Liability Co last reported 0% of its portfolio in the stock. Tradewinds Cap Mngmt Limited Liability Company has 75 shares for 0% of their US portfolio. Estabrook Cap Management last reported 0% of its portfolio in the stock. Manufacturers Life The holds 0.01% of its portfolio in Tenet Healthcare Corp (NYSE:THC) for 134,138 shares. New Jersey Better Educational Savings Trust reported 22,000 shares or 0.41% of all its holdings.
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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