Short Interest in Tenet Healthcare Corp (THC) Decreases By 15.3%

Tenet Healthcare Corp (NYSE:THC) was the target of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 24,900,579 shares, a decrease of 15.3% from the January 12th total of 29,410,207 shares. Based on an average daily trading volume, of 2,810,713 shares, the short-interest ratio is currently 8.9 days. Approximately 25.3% of the company’s shares are short sold.

In other news, Director George Fredrick Smitherman purchased 125,000 shares of the company’s stock in a transaction dated Thursday, January 25th. The stock was acquired at an average price of $38.50 per share, with a total value of $4,812,500.00. In the last three months, insiders sold 54,600 shares of company stock valued at $94,146. Corporate insiders own 3.10% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in THC. King Street Capital Management L.P. acquired a new stake in Tenet Healthcare during the 3rd quarter worth approximately $31,217,000. Davidson Kempner Capital Management LP acquired a new stake in Tenet Healthcare during the 2nd quarter worth approximately $20,133,000. Dimensional Fund Advisors LP lifted its holdings in Tenet Healthcare by 38.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,141,658 shares of the company’s stock worth $41,420,000 after buying an additional 596,526 shares in the last quarter. State Street Corp lifted its holdings in Tenet Healthcare by 25.4% during the 2nd quarter. State Street Corp now owns 2,926,533 shares of the company’s stock worth $56,603,000 after buying an additional 593,520 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Tenet Healthcare by 6.2% during the 2nd quarter. Vanguard Group Inc. now owns 6,995,269 shares of the company’s stock worth $135,289,000 after buying an additional 407,910 shares in the last quarter.

Several analysts have recently weighed in on the stock. Wells Fargo & Co assumed coverage on shares of Tenet Healthcare in a research note on Tuesday, January 30th. They issued a “market perform” rating and a $20.00 price target for the company. Zacks Investment Research lowered shares of Tenet Healthcare from a “hold” rating to a “sell” rating in a report on Saturday, January 20th. Goldman Sachs Group initiated coverage on shares of Tenet Healthcare in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $15.00 price objective on the stock. ValuEngine lowered shares of Tenet Healthcare from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Finally, Morgan Stanley lowered shares of Tenet Healthcare from an “equal weight” rating to an “underweight” rating and set a $14.00 price objective on the stock. in a report on Wednesday, December 20th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Tenet Healthcare presently has a consensus rating of “Hold” and a consensus price target of $18.36.

Shares of Tenet Healthcare (NYSE:THC) opened at $18.49 on Wednesday. The stock has a market cap of $1,819.89, a P/E ratio of -3.36, a price-to-earnings-growth ratio of 3.40 and a beta of 1.24. Tenet Healthcare has a fifty-two week low of $12.25 and a fifty-two week high of $22.72. The company has a current ratio of 1.28, a quick ratio of 1.21 and a debt-to-equity ratio of 21.21.

COPYRIGHT VIOLATION NOTICE: “Short Interest in Tenet Healthcare Corp (THC) Decreases By 15.3%” was reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/02/14/short-interest-in-tenet-healthcare-corp-thc-decreases-by-15-3.html.

About Tenet Healthcare

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.

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

Leave a Reply