Shares of Tenet Healthcare Corp. (NYSE:THC) hit a new 52-week low during trading on Wednesday . The company traded as low as $20.93 and last traded at $21.15, with a volume of 2,287,678 shares traded. The stock had previously closed at $22.02.

THC has been the subject of a number of recent research reports. Leerink Swann reiterated a “market perform” rating and set a $28.00 price objective (down from $30.00) on shares of Tenet Healthcare Corp. in a research note on Sunday, September 4th. Barclays PLC restated a “buy” rating and set a $39.00 target price on shares of Tenet Healthcare Corp. in a report on Friday, August 19th. Ladenburg Thalmann upgraded Tenet Healthcare Corp. from a “not rated” rating to an “underperform” rating in a report on Monday, June 13th. Zacks Investment Research upgraded Tenet Healthcare Corp. from a “strong sell” rating to a “hold” rating in a report on Friday, September 2nd. Finally, Credit Suisse Group AG restated a “hold” rating on shares of Tenet Healthcare Corp. in a report on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $33.72.

The stock’s market capitalization is $2.13 billion. The company’s 50 day moving average price is $24.50 and its 200 day moving average price is $28.05.

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/2016/09/21/tenet-healthcare-corp-thc-reaches-new-1-year-low-at-20-93.html

Tenet Healthcare Corp. (NYSE:THC) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.14. The firm had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.82 billion. Tenet Healthcare Corp. had a positive return on equity of 14.47% and a negative net margin of 1.15%. Tenet Healthcare Corp.’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 earnings per share. Analysts forecast that Tenet Healthcare Corp. will post $1.55 EPS for the current year.

Institutional investors have recently made changes to their positions in the stock. Harris Associates L P boosted its stake in shares of Tenet Healthcare Corp. by 0.7% in the second quarter. Harris Associates L P now owns 8,333,793 shares of the company’s stock worth $230,346,000 after buying an additional 60,200 shares during the period. State Street Corp raised its stake in shares of 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 in the last quarter. BlackRock Fund Advisors raised its stake in shares of Tenet Healthcare Corp. by 94.3% in the second quarter. BlackRock Fund Advisors now owns 3,611,528 shares of the company’s stock worth $99,823,000 after buying an additional 1,753,061 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Tenet Healthcare Corp. by 12.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,248,632 shares of the company’s stock worth $93,983,000 after buying an additional 366,029 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in shares of Tenet Healthcare Corp. by 17.5% in the first quarter. BlackRock Group LTD now owns 1,348,230 shares of the company’s stock worth $39,004,000 after buying an additional 201,254 shares in the last quarter.

Tenet Healthcare Corp. Company Profile

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.