The stock of Tenet Healthcare Corp (NYSE:THC) hit a new 52-week low and has $13.86 target or 5.00% below today’s $14.59 share price. The 8 months bearish chart indicates high risk for the $1.08 billion company. The 1-year low was reported on Nov, 10 by Barchart.com. If the $13.86 price target is reached, the company will be worth $54.00 million 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 10.30M shares traded hands or 197.69% up from the average. Tenet Healthcare Corp (NYSE:THC) has declined 47.55% since April 8, 2016 and is downtrending. It has underperformed by 53.20% the S&P500.
Tenet Healthcare Corp (NYSE:THC) Ratings Coverage
Out of 12 analysts covering Tenet Healthcare Corporation (NYSE:THC), 3 rate it a “Buy”, 1 “Sell”, while 8 “Hold”. This means 25% are positive. Tenet Healthcare Corporation has been the topic of 27 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Tenet Healthcare Corp (NYSE:THC) has “Neutral” rating given on Wednesday, May 4 by Citigroup. As per Wednesday, December 2, the company rating was maintained by Mizuho. The rating was initiated by Citigroup with “Neutral” on Friday, October 2. Mizuho upgraded the shares of THC in a report on Tuesday, January 19 to “Buy” rating. The firm has “Overweight” rating by Barclays Capital given on Thursday, September 10. The company was maintained on Thursday, March 24 by Credit Suisse. On Wednesday, November 9 the stock rating was downgraded by Bank of America to “Neutral”. JP Morgan initiated Tenet Healthcare Corp (NYSE:THC) on Wednesday, September 16 with “Neutral” rating. On Monday, June 13 the stock rating was upgraded by Ladenburg Thalmann to “Underperform”. The firm has “Positive” rating given on Wednesday, April 13 by Susquehanna.
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.
Envestnet Asset Management has 5,419 shares for 0% of their US portfolio. Moreover, Proshare Advisors Limited Liability Com has 0% invested in Tenet Healthcare Corp (NYSE:THC) for 12,289 shares. Rhumbline Advisers last reported 151,303 shares in the company. Glenmede Na last reported 0% of its portfolio in the stock. Clinton Grp Inc Inc has invested 0.18% of its portfolio in Tenet Healthcare Corp (NYSE:THC). Blackrock Institutional Trust Communication Na reported 3.09M shares or 0.01% of all its holdings. Commonwealth Bancorp Of Aus owns 15,800 shares or 0.01% of their US portfolio. The New York-based Natl Bank Of New York Mellon has invested 0.01% in Tenet Healthcare Corp (NYSE:THC). Ls Invest Llc has 2,426 shares for 0% of their US portfolio. Tru Department Mb National Bank & Trust N A accumulated 101 shares or 0% of the stock. International Grp Inc Inc last reported 191,043 shares in the company. Employees Retirement Systems Of Texas owns 115,000 shares or 0.04% of their US portfolio. Estabrook Cap Mngmt last reported 0% of its portfolio in the stock. The California-based Partner Fund Management Ltd Partnership has invested 0.58% in Tenet Healthcare Corp (NYSE:THC). Canada Pension Plan Inv Board has 76,200 shares for 0.01% of their US portfolio.
More news for Tenet Healthcare Corp (NYSE:THC) were recently published by: Prnewswire.com, which released: “TENET INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick …” on October 08, 2016. Businesswire.com‘s article titled: “INVESTOR ALERT: Investigation of Tenet Healthcare Corp. Announced by Law …” and published on November 07, 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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