Could Tenet Healthcare Corp Lose Strenght? Option Traders Don’t Think So

 Could Tenet Healthcare Corp Lose Strenght? Option Traders Don't Think So

In today’s session Tenet Healthcare Corp (THC) registered an unusually high (1,486) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious THC increase. With 1,486 contracts traded and 484 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: THC161021C00022500 closed last at: $1.15 or 43.7% up. The stock decreased 1.19% or $0.26 during the last trading session, hitting $21.5. About 1.47M shares traded hands. Tenet Healthcare Corp (NYSE:THC) has declined 18.00% since March 2, 2016 and is downtrending. It has underperformed by 27.24% the S&P500.

Analysts await Tenet Healthcare Corp (NYSE:THC) to report earnings on November, 7. They expect $0.19 earnings per share, down 34.48% or $0.10 from last year’s $0.29 per share. THC’s profit will be $18.12M for 28.29 P/E if the $0.19 EPS becomes a reality. After $0.38 actual earnings per share 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. Barclays Capital initiated the stock with “Overweight” rating in Thursday, September 10 report. The rating was initiated by Credit Suisse with “Neutral” on Wednesday, December 16. The rating was downgraded by Mizuho on Thursday, October 22 to “Neutral”. On Thursday, March 24 the stock rating was maintained by Credit Suisse with “Neutral”. The rating was initiated by Citigroup with “Neutral” on Friday, October 2. JP Morgan initiated Tenet Healthcare Corp (NYSE:THC) on Wednesday, September 16 with “Neutral” rating. Mizuho maintained Tenet Healthcare Corp (NYSE:THC) on Wednesday, December 2 with “Neutral” rating. The stock of Tenet Healthcare Corp (NYSE:THC) earned “Outperform” rating by BMO Capital Markets on Monday, August 31. Mizuho downgraded the stock to “Neutral” rating in Wednesday, May 4 report. The rating was upgraded by Mizuho to “Buy” on Tuesday, January 19.

Insitutional Activity: The institutional sentiment decreased to 0.75 in 2016 Q2. Its down 0.15, from 0.9 in 2016Q1. The ratio turned negative, 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.
Capital Guardian Trust last reported 56 shares in the company. State Street accumulated 0.01% or 2.80M shares. Texas Permanent School Fund owns 75,929 shares or 0.03% of their US portfolio. Deutsche Fincl Bank Ag, a Germany-based fund reported 654,099 shares. Commonwealth National Bank & Trust Of Aus holds 0.01% or 15,800 shares in its portfolio. Qs Limited Com owns 1,550 shares or 0% of their US portfolio. Synovus Fincl holds 0.02% or 31,753 shares in its portfolio. Paloma Partners Mngmt Company holds 75,569 shares or 0.02% of its portfolio. Moreover, London Of Virginia has 0.99% invested in Tenet Healthcare Corp (NYSE:THC) for 4.66 million shares. Citigroup Inc holds 0% of its portfolio in Tenet Healthcare Corp (NYSE:THC) for 58,303 shares. Carlson Cap Lp holds 47,396 shares or 0.02% of its portfolio. Nomura accumulated 10,355 shares or 0% of the stock. First Tru Advsrs Ltd Partnership has 186,835 shares for 0.02% of their US portfolio. Aberdeen Asset Mgmt Public Ltd Uk holds 0% of its portfolio in Tenet Healthcare Corp (NYSE:THC) for 20,546 shares. Kistler holds 0.01% or 1,000 shares in its portfolio.

Tenet Healthcare Corporation is a healthcare services company. The company has a market cap of $2.05 billion. The Firm operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets in the United States. It currently has negative earnings. The Firm operates through three divisions: Hospital Operations and other, Ambulatory Care and Conifer.

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