The stock of Tenet Healthcare Corp (NYSE:THC) hit a new 52-week low and has $17.67 target or 6.00% below today’s $18.80 share price. The 7 months bearish chart indicates high risk for the $1.81B company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $17.67 price target is reached, the company will be worth $108.60 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. The stock decreased 1.67% or $0.32 during the last trading session, hitting $18.8. About 3.53 million shares traded hands or 28.83% up from the average. Tenet Healthcare Corp (NYSE:THC) has declined 33.91% since March 31, 2016 and is downtrending. It has underperformed by 36.43% 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 $18.29M for 24.74 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 maintained by Citigroup on Wednesday, May 4 with “Neutral”. The firm has “Neutral” rating by Mizuho given on Wednesday, October 5. On Friday, August 7 the stock rating was downgraded by Zacks to “Buy”. The rating was reinitiated by Goldman Sachs with “Neutral” on Tuesday, July 21. On Friday, October 2 the stock rating was initiated by Citigroup with “Neutral”. On Wednesday, September 16 the stock rating was initiated by JP Morgan with “Neutral”. Mizuho downgraded the shares of THC in a report on Wednesday, May 4 to “Neutral” rating. As per Thursday, August 4, the company rating was maintained by Citigroup. Wells Fargo downgraded the stock to “Market Perform” rating in Monday, January 4 report. Credit Suisse maintained the stock with “Neutral” rating in Thursday, March 24 report.
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 is 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.
Hutchin Hill Cap Limited Partnership accumulated 0.05% or 55,400 shares. Bnp Paribas Arbitrage Sa has 112,767 shares for 0.01% of their US portfolio. Clearbridge Investments Lc has 0% invested in the company for 1,300 shares. Qvt L P reported 794,457 shares or 1.51% of all its holdings. The Switzerland-based Swiss National Bank & Trust has invested 0.01% in Tenet Healthcare Corp (NYSE:THC). Perceptive Ltd owns 16,200 shares or 0.03% of their US portfolio. Essex Invest Ltd Liability Co holds 10,521 shares or 0.05% of its portfolio. Ncm Capital Management Group last reported 1,650 shares in the company. The Massachusetts-based Tekla Cap Mngmt Ltd Liability Com has invested 0.19% in Tenet Healthcare Corp (NYSE:THC). Comerica Savings Bank last reported 68,489 shares in the company. Profund Advsr Ltd Company reported 21,606 shares or 0.03% of all its holdings. Bridger Mgmt Ltd Llc has 1.62% invested in the company for 905,691 shares. Mutual Of America Cap Mngmt Ltd Liability Co has 0.04% invested in the company for 72,297 shares. The New York-based Gamco Investors Inc Et Al has invested 0% in Tenet Healthcare Corp (NYSE:THC). Coastland Cap Ltd Llc has 189,270 shares for 0.21% of their US portfolio.
More recent Tenet Healthcare Corp (NYSE:THC) news were published by: Prnewswire.com which released: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation …” on October 05, 2016. Also Prnewswire.com published the news titled: “Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Tenet Healthcare Corp.” on October 10, 2016. Globenewswire.com‘s news article titled: “INVESTOR ALERT: Levi & Korsinsky, LLP Reminds Shareholders of Tenet Healthcare …” with publication date: October 31, 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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