Tenet Healthcare Corp Sees Significant Growth in Short Interest (THC)
Tenet Healthcare Corp (NYSE:THC) was the target of a large growth in short interest in April. As of April 30th, there was short interest totalling 12,391,501 shares, a growth of 20.2% from the April 15th total of 10,312,870 shares, American Banking & Market News reports. Based on an average daily trading volume, of 2,078,702 shares, the short-interest ratio is presently 6.0 days. Currently, 12.9% of the shares of the company are sold short.
In other Tenet Healthcare Corp news, Director Richard Pettingill unloaded 10,000 shares of Tenet Healthcare Corp stock on the open market in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $45.22, for a total value of $452,200.00. Following the transaction, the director now directly owns 16,464 shares of the company’s stock, valued at approximately $744,502. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on THC. Analysts at BMO Capital Markets reiterated a “market perform” rating on shares of Tenet Healthcare Corp in a research note on Monday, May 12th. They now have a $47.00 price target on the stock, up previously from $45.00. Separately, analysts at FBR Capital Markets raised their price target on shares of Tenet Healthcare Corp from $45.00 to $47.00 in a research note on Wednesday, May 7th. They now have a “market perform” rating on the stock. Finally, analysts at Zacks reiterated an “underperform” rating on shares of Tenet Healthcare Corp in a research note on Tuesday, May 6th. They now have a $41.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $55.96.
Shares of Tenet Healthcare Corp (NYSE:THC) opened at 47.00 on Thursday. Tenet Healthcare Corp has a 52-week low of $36.87 and a 52-week high of $48.70. The stock has a 50-day moving average of $43. and a 200-day moving average of $43.28. The company’s market cap is $4.590 billion.
Tenet Healthcare Corp (NYSE:THC) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.12) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.14) by $0.02. The company had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter last year, the company posted $0.33 earnings per share. Tenet Healthcare Corp’s revenue was up 66.0% compared to the same quarter last year. Analysts expect that Tenet Healthcare Corp will post $1.20 EPS for the current fiscal year.
Tenet Healthcare Corporation (NYSE:THC), along with its subsidiaries, is an investor-owned health care services company.
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