The stock of Tenet Healthcare Corp (NYSE:THC) is a huge mover today! About 1.05M shares traded hands. Tenet Healthcare Corp (NYSE:THC) has declined 52.79% since April 28, 2016 and is downtrending. It has underperformed by 58.72% the S&P500.
The move comes after 6 months positive chart setup for the $1.58B company. It was reported on Dec, 1 by Barchart.com. We have $16.65 PT which if reached, will make NYSE:THC worth $110.60 million more.
Analysts await Tenet Healthcare Corp (NYSE:THC) to report earnings on February, 27. They expect $0.27 EPS, down 22.86% or $0.08 from last year’s $0.35 per share. THC’s profit will be $27.42M for 14.41 P/E if the $0.27 EPS becomes a reality. After $0.16 actual EPS reported by Tenet Healthcare Corp for the previous quarter, Wall Street now forecasts 68.75% EPS growth.
Tenet Healthcare Corp (NYSE:THC) Ratings Coverage
Out of 12 analysts covering Tenet Healthcare Corporation (NYSE:THC), 3 rate it a “Buy”, 2 “Sell”, while 7 “Hold”. This means 25% are positive. Tenet Healthcare Corporation has been the topic of 28 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was initiated by Citigroup on Friday, October 2 with “Neutral”. Ladenburg Thalmann upgraded Tenet Healthcare Corp (NYSE:THC) on Monday, June 13 to “Underperform” rating. BMO Capital Markets upgraded the stock to “Outperform” rating in Friday, September 4 report. The stock of Tenet Healthcare Corp (NYSE:THC) earned “Neutral” rating by Credit Suisse on Thursday, March 24. On Wednesday, May 4 the stock rating was downgraded by Mizuho to “Neutral”. The stock of Tenet Healthcare Corp (NYSE:THC) earned “Neutral” rating by Mizuho on Wednesday, October 5. The company was downgraded on Wednesday, November 9 by Bank of America. The rating was downgraded by Zacks on Friday, August 7 to “Buy”. On Wednesday, September 16 the stock rating was initiated by JP Morgan with “Neutral”. The stock of Tenet Healthcare Corp (NYSE:THC) earned “Market Perform” rating by Wells Fargo on Monday, January 4.
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 increased to 0.81 in 2016 Q2. Its up 0.06, from 0.75 in 2016Q1. The ratio improved, 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.
The France-based Bnp Paribas Invest Ptnrs Sa has invested 0% in Tenet Healthcare Corp (NYSE:THC). Parametric Assocs Lc reported 274,276 shares or 0.01% of all its holdings. Bogle Management Limited Partnership De accumulated 46,863 shares or 0.09% of the stock. Group One Trading L P has 5,160 shares for 0% of their US portfolio. Moreover, Ameriprise has 0.01% invested in Tenet Healthcare Corp (NYSE:THC) for 511,084 shares. Sg Americas Limited Co, a New York-based fund reported 78,237 shares. Nokota Management Limited Partnership accumulated 0.69% or 662,126 shares. Moreover, Carlson Cap L P has 0.02% invested in Tenet Healthcare Corp (NYSE:THC) for 47,396 shares. Principal Fin Grp reported 375,927 shares or 0.01% of all its holdings. Parkside Bancorporation &, a Missouri-based fund reported 48 shares. Cornerstone Advisors last reported 0% of its portfolio in the stock. Texas Permanent School Fund, a Texas-based fund reported 75,929 shares. Comerica Natl Bank has 68,489 shares for 0.02% of their US portfolio. Fmr Limited Liability Corporation holds 0.02% of its portfolio in Tenet Healthcare Corp (NYSE:THC) for 6.36 million shares. Checchi Capital Advisers Ltd Limited Liability Company owns 1,556 shares or 0% of their US portfolio.
Insider Transactions: Since November 9, 2016, the stock had 2 insider purchases, and 0 selling transactions for $291,200 net activity. The insider Rittenmeyer Ronald A bought 15,000 shares worth $215,250. Shares for $75,950 were bought by WILVER PETER M.
Another recent and important Tenet Healthcare Corp (NYSE:THC) news was published by Fool.com which published an article titled: “Hospital Stocks Tenet Healthcare Corp. and Community Health Systems Are …” on November 15, 2016.
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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