Tenet Healthcare Corporation (NYSE:THC) was the recipient of some unusual options trading activity on Friday. Investors acquired 11,165 call options on the stock. This represents an increase of approximately 775% compared to the average volume of 1,276 call options.

Several equities analysts have recently weighed in on THC shares. ValuEngine lowered shares of Tenet Healthcare Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Credit Suisse Group dropped their price objective on shares of Tenet Healthcare Corporation from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, August 9th. Jefferies Group LLC reiterated a “buy” rating and set a $24.00 price objective (down previously from $26.00) on shares of Tenet Healthcare Corporation in a report on Tuesday, August 8th. Mizuho reiterated a “neutral” rating and set a $18.00 price objective on shares of Tenet Healthcare Corporation in a report on Sunday, April 23rd. Finally, BidaskClub lowered shares of Tenet Healthcare Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $20.93.

A number of hedge funds have recently made changes to their positions in THC. Private Management Group Inc. boosted its stake in shares of Tenet Healthcare Corporation by 0.3% in the first quarter. Private Management Group Inc. now owns 804,532 shares of the company’s stock worth $14,248,000 after buying an additional 2,379 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Tenet Healthcare Corporation during the first quarter worth approximately $3,634,000. North Tide Capital LLC acquired a new stake in shares of Tenet Healthcare Corporation during the first quarter worth approximately $35,420,000. Bank of Montreal Can boosted its stake in shares of Tenet Healthcare Corporation by 119.3% in the first quarter. Bank of Montreal Can now owns 12,667 shares of the company’s stock worth $223,000 after buying an additional 6,892 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Tenet Healthcare Corporation by 1.2% in the first quarter. State Street Corp now owns 2,333,013 shares of the company’s stock worth $41,316,000 after buying an additional 27,898 shares in the last quarter.

Shares of Tenet Healthcare Corporation (THC) opened at 14.45 on Monday. The stock’s market cap is $1.46 billion. Tenet Healthcare Corporation has a 1-year low of $12.54 and a 1-year high of $24.96. The firm has a 50-day moving average of $17.36 and a 200 day moving average of $17.86.

Tenet Healthcare Corporation (NYSE:THC) last announced its earnings results on Monday, August 7th. The company reported ($0.17) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.17). Tenet Healthcare Corporation had a negative net margin of 0.97% and a negative return on equity of 2.00%. The business had revenue of $14.80 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the prior year, the company earned $0.38 earnings per share. The firm’s revenue was up 204.1% on a year-over-year basis. Equities research analysts forecast that Tenet Healthcare Corporation will post $0.82 earnings per share for the current year.

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About Tenet Healthcare Corporation

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’s segments include Hospital Operations and Other, Ambulatory Care and Conifer. As of December 31, 2016, its subsidiaries operated 79 hospitals, including three academic medical centers, two children’s hospitals, two specialty hospitals and one critical access hospital.

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