Tenet Healthcare Corp Has More Gas To Increase After Today’s Bullish Options Activity

 Tenet Healthcare Corp Has More Gas To Increase After Today's Bullish Options Activity

In today’s session Tenet Healthcare Corp (THC) registered an unusually high (639) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious THC increase. With 639 contracts traded and 36204 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: THC161118C00021000 closed last at: $1.1 or 8.3% down. About 911,223 shares traded hands. 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 earnings per share, down 34.48% or $0.10 from last year’s $0.29 per share. THC’s profit will be $18.33M for 25.37 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 25 analyst reports since July 21, 2015 according to StockzIntelligence Inc. JP Morgan initiated the stock with “Neutral” rating in Wednesday, September 16 report. BMO Capital Markets upgraded the shares of THC in a report on Monday, August 31 to “Outperform” rating. The firm has “Neutral” rating by Mizuho given on Thursday, October 22. The rating was maintained by Citigroup on Thursday, August 4 with “Neutral”. The rating was initiated by Barclays Capital on Thursday, September 10 with “Overweight”. Mizuho upgraded Tenet Healthcare Corp (NYSE:THC) on Tuesday, January 19 to “Buy” rating. Zacks downgraded the stock to “Buy” rating in Friday, August 7 report. The rating was maintained by Citigroup on Wednesday, May 4 with “Neutral”. Wells Fargo downgraded the stock to “Market Perform” rating in Monday, January 4 report. The rating was initiated by Credit Suisse with “Neutral” on Wednesday, December 16.

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 dropped, 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.
Tipp Hill Cap Ltd Co has invested 21.04% of its portfolio in Tenet Healthcare Corp (NYSE:THC). Hsbc Public Limited Co holds 0.01% or 96,470 shares in its portfolio. Stifel Finance Corp accumulated 0.01% or 92,766 shares. Harris Assocs Ltd Partnership holds 0.46% or 8.33M shares in its portfolio. Group Inc Inc One Trading Limited Partnership holds 0% or 5,160 shares in its portfolio. Principal Group has invested 0.01% of its portfolio in Tenet Healthcare Corp (NYSE:THC). Huber Capital Mgmt Ltd, a California-based fund reported 558,260 shares. Rudman Errol M owns 20,400 shares or 0.54% of their US portfolio. Gamco Invsts Inc Et Al holds 0% of its portfolio in Tenet Healthcare Corp (NYSE:THC) for 15,000 shares. First Mercantile Trust accumulated 6,000 shares or 0.02% of the stock. Natl Bank Of America De holds 796,377 shares or 0.01% of its portfolio. Qs Investors Ltd Liability Com last reported 1,550 shares in the company. Gotham Asset Mgmt Limited Liability Company last reported 0.18% of its portfolio in the stock. Moreover, Fmr Lc has 0.02% invested in Tenet Healthcare Corp (NYSE:THC) for 6.36M shares. Synovus Financial Corp accumulated 31,753 shares or 0.02% of the stock.

Tenet Healthcare Corporation is a healthcare services company. The company has a market cap of $1.86 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.

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.

More important 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 published article titled: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation …”, Prnewswire.com published: “Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Tenet Healthcare Corp.” on October 10, 2016. More interesting news about Tenet Healthcare Corp (NYSE:THC) was released by: Globenewswire.com and their article: “INVESTOR ALERT: Levi & Korsinsky, LLP Reminds Shareholders of Tenet Healthcare …” with publication date: October 31, 2016.

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