Tenet Healthcare Corp. (NYSE:THC) dropped 5.3% during trading on Tuesday . The stock traded as low as $21.80 and last traded at $21.81, with a volume of 1,752,612 shares traded. The stock had previously closed at $23.04.

THC has been the subject of several research analyst reports. Jefferies Group reaffirmed a “buy” rating on shares of Tenet Healthcare Corp. in a research report on Monday, July 11th. Barclays PLC reissued a “buy” rating and set a $39.00 price target on shares of Tenet Healthcare Corp. in a research report on Friday, August 19th. Zacks Investment Research cut shares of Tenet Healthcare Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Mizuho reissued a “neutral” rating and set a $28.00 price target (down from $33.00) on shares of Tenet Healthcare Corp. in a research report on Tuesday, August 2nd. Finally, Citigroup Inc. lowered their price target on shares of Tenet Healthcare Corp. from $36.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the stock. Tenet Healthcare Corp. has an average rating of “Hold” and a consensus target price of $33.72.

The company has a 50 day moving average price of $24.88 and a 200 day moving average price of $28.13. The company’s market capitalization is $2.19 billion.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/tenet-healthcare-corp-thc-shares-down-5-3.html

Tenet Healthcare Corp. (NYSE:THC) last released its quarterly earnings data on Monday, August 1st. The company reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.14. Tenet Healthcare Corp. had a positive return on equity of 14.47% and a negative net margin of 1.15%. The business earned $4.87 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period last year, the company earned $0.75 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. Equities research analysts anticipate that Tenet Healthcare Corp. will post $1.55 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Bridger Management LLC acquired a new stake in Tenet Healthcare Corp. during the first quarter worth $25,113,000. State Street Corp raised its stake in Tenet Healthcare Corp. by 0.5% in the first quarter. State Street Corp now owns 3,613,092 shares of the company’s stock worth $104,526,000 after buying an additional 16,880 shares during the period. TIAA CREF Investment Management LLC raised its stake in Tenet Healthcare Corp. by 5.3% in the first quarter. TIAA CREF Investment Management LLC now owns 641,140 shares of the company’s stock worth $18,548,000 after buying an additional 32,160 shares during the period. Geode Capital Management LLC raised its stake in Tenet Healthcare Corp. by 1.1% in the first quarter. Geode Capital Management LLC now owns 793,231 shares of the company’s stock worth $22,910,000 after buying an additional 8,677 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in Tenet Healthcare Corp. during the first quarter worth $399,000.

About Tenet Healthcare Corp.

Tenet Healthcare Corporation (Tenet) is a healthcare services company. The Company operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets in the United States. The Company operates through three segments: Hospital Operations and other, Ambulatory Care and Conifer.

5 Day Chart for NYSE:THC

Receive News & Ratings for Tenet Healthcare Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenet Healthcare Corp. and related companies with MarketBeat.com's FREE daily email newsletter.