Tenet Healthcare Corp. (THC) Sees Unusually-High Trading Volume
Tenet Healthcare Corp. (NYSE:THC) saw unusually-high trading volume on Monday . Approximately 1,835,259 shares changed hands during trading, an increase of 60% from the previous session’s volume of 1,144,533 shares.The stock last traded at $28.93 and had previously closed at $30.61.
THC has been the subject of several recent analyst reports. Sterne Agee CRT reaffirmed a “buy” rating on shares of Tenet Healthcare Corp. in a research report on Monday, May 16th. Jefferies Group reaffirmed a “buy” rating on shares of Tenet Healthcare Corp. in a research report on Monday, July 11th. Citigroup Inc. lifted their price objective on shares of Tenet Healthcare Corp. from $27.00 to $36.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 4th. Zacks Investment Research raised shares of Tenet Healthcare Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, April 26th. Finally, Leerink Swann reiterated a “hold” rating on shares of Tenet Healthcare Corp. in a research note on Monday, May 2nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $33.92.
The company’s market cap is $2.87 billion. The company has a 50 day moving average price of $28.95 and a 200-day moving average price of $28.27.
Tenet Healthcare Corp. (NYSE:THC) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.14. During the same quarter last year, the business earned $0.75 EPS. The business had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Tenet Healthcare Corp.’s revenue was up 8.4% compared to the same quarter last year. On average, analysts forecast that Tenet Healthcare Corp. will post $1.93 EPS for the current year.
A number of hedge funds and institutional investors recently bought and sold shares of THC. OppenheimerFunds Inc. bought a new position in Tenet Healthcare Corp. during the fourth quarter worth approximately $1,122,000. Eaton Vance Management increased its position in Tenet Healthcare Corp. by 43.3% in the fourth quarter. Eaton Vance Management now owns 47,009 shares of the company’s stock worth $1,424,000 after buying an additional 14,193 shares during the period. Rhumbline Advisers increased its position in Tenet Healthcare Corp. by 4.1% in the fourth quarter. Rhumbline Advisers now owns 132,256 shares of the company’s stock worth $4,007,000 after buying an additional 5,265 shares during the period. State of New Jersey Common Pension Fund D increased its position in Tenet Healthcare Corp. by 14.8% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 2,012,500 shares of the company’s stock worth $60,979,000 after buying an additional 260,000 shares during the period. Finally, BlackRock Advisors LLC increased its position in Tenet Healthcare Corp. by 26.8% in the fourth quarter. BlackRock Advisors LLC now owns 2,141,124 shares of the company’s stock worth $64,876,000 after buying an additional 452,403 shares during the period.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.