Tenet Healthcare Corp. (THC) Reaches New 1-Year Low at $20.93
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.
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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.
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