Stock Worth Mentioning Today: Is Tenet Healthcare Corp a Buy? The Stock Rises Again

Stock Worth Mentioning Today: Is Tenet Healthcare Corp a Buy? The Stock Rises Again

The stock of Tenet Healthcare Corp (NYSE:THC) is a huge mover today! About 1.79M shares traded hands. Tenet Healthcare Corp (NYSE:THC) has declined 37.06% since April 5, 2016 and is downtrending. It has underperformed by 39.01% the S&P500.
The move comes after 7 months positive chart setup for the $2.01B company. It was reported on Nov, 7 by Barchart.com. We have $33.80 PT which if reached, will make NYSE:THC worth $1.35 billion more.

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 of Tenet Healthcare Corp (NYSE:THC) has “Neutral” rating given on Wednesday, December 16 by Credit Suisse. BMO Capital Markets upgraded Tenet Healthcare Corp (NYSE:THC) on Friday, September 4 to “Outperform” rating. Mizuho maintained it with “Neutral” rating and $22 target price in Wednesday, October 5 report. Mizuho maintained the stock with “Neutral” rating in Wednesday, December 2 report. The rating was initiated by Citigroup with “Neutral” on Friday, October 2. The rating was maintained by Citigroup on Wednesday, May 4 with “Neutral”. The rating was downgraded by Mizuho on Wednesday, May 4 to “Neutral”. Ladenburg Thalmann upgraded the stock to “Underperform” rating in Monday, June 13 report. The firm earned “Buy” rating on Friday, August 7 by Zacks. Credit Suisse maintained Tenet Healthcare Corp (NYSE:THC) rating on Thursday, March 24. Credit Suisse has “Neutral” rating and $31 price target.

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 Q2 2016. 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.
Sivik Health Limited Liability owns 175,000 shares or 2.4% of their US portfolio. California State Teachers Retirement Sys last reported 0.01% of its portfolio in the stock. Synovus Financial Corp owns 31,753 shares or 0.02% of their US portfolio. High Pointe Capital Mngmt Lc holds 1.26% or 29,950 shares in its portfolio. Dimensional Fund Advsr Limited Partnership owns 1.16 million shares or 0.02% of their US portfolio. Federated Investors Inc Pa last reported 203,510 shares in the company. Moreover, Utah Retirement has 0.01% invested in Tenet Healthcare Corp (NYSE:THC) for 14,547 shares. Blackrock Institutional Com Na, a California-based fund reported 3.09M shares. Glenhill Advsrs Ltd Liability Com holds 2.59% or 1.30M shares in its portfolio. Ubs Asset Mgmt Americas holds 0% or 121,696 shares in its portfolio. Tipp Hill Capital Management Lc has 50,000 shares for 21.04% of their US portfolio. Welch Lc Ny last reported 196,540 shares in the company. Kcg has 17,806 shares for 0.01% of their US portfolio. Ncm Cap Grp has 1,650 shares for 0.56% of their US portfolio. Credit Agricole S A, a France-based fund reported 14,054 shares.

More recent Tenet Healthcare Corp (NYSE:THC) news were published by: Prnewswire.com which released: “Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Tenet Healthcare Corp.” on October 10, 2016. Also Streetinsider.com published the news titled: “Form 8-K TENET HEALTHCARE CORP For: Nov 02” on November 04, 2016. Marketwatch.com‘s news article titled: “Tenet Healthcare shares decline on weak forecast, earnings miss” 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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