Shares of Tenet Healthcare Corp. (NYSE:THC) dropped 3.5% during trading on Wednesday . The stock traded as low as $24.19 and last traded at $24.29, with a volume of 1,351,937 shares changing hands. The stock had previously closed at $25.16.

THC has been the topic of several analyst reports. Sterne Agee CRT restated a “buy” rating on shares of Tenet Healthcare Corp. in a research report on Monday, May 16th. Robert W. Baird restated a “buy” rating on shares of Tenet Healthcare Corp. in a research report on Monday, May 16th. Bank of America Corp. restated a “buy” rating on shares of Tenet Healthcare Corp. in a research report on Tuesday, May 3rd. Jefferies Group restated a “buy” rating on shares of Tenet Healthcare Corp. in a research report on Monday, July 11th. Finally, Zacks Investment Research upgraded shares of Tenet Healthcare Corp. from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Monday, July 18th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. Tenet Healthcare Corp. currently has a consensus rating of “Hold” and an average price target of $33.86.

The stock’s market cap is $2.39 billion. The company has a 50-day moving average price of $28.45 and a 200 day moving average price of $28.30.

Tenet Healthcare Corp. (NYSE:THC) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by $0.14. The business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period in the previous year, the company posted $0.75 EPS. Tenet Healthcare Corp.’s revenue was up 8.4% on a year-over-year basis. On average, analysts predict that Tenet Healthcare Corp. will post $1.55 EPS for the current fiscal year.

An institutional investor recently raised its position in Tenet Healthcare Corp. stock. BlackRock Advisors LLC increased its position in shares of Tenet Healthcare Corp. (NYSE:THC) by 26.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,141,124 shares of the company’s stock after buying an additional 452,403 shares during the period. BlackRock Advisors LLC owned 2.15% of Tenet Healthcare Corp. worth $64,876,000 as of its most recent SEC filing.

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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