Tenet Healthcare Corp. (NYSE:THC) was down 4% on Wednesday . The stock traded as low as $23.67 and last traded at $23.71, with a volume of 900,282 shares traded. The stock had previously closed at $24.69.

Several equities research analysts have weighed in on THC shares. Zacks Investment Research raised Tenet Healthcare Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, April 26th. Credit Suisse Group AG reissued a “hold” rating and set a $31.00 price objective on shares of Tenet Healthcare Corp. in a research note on Tuesday, May 3rd. Morgan Stanley reissued a “hold” rating on shares of Tenet Healthcare Corp. in a research note on Tuesday, May 3rd. Bank of America Corp. reaffirmed a “buy” rating on shares of Tenet Healthcare Corp. in a research note on Tuesday, May 3rd. Finally, Leerink Swann reaffirmed a “hold” rating on shares of Tenet Healthcare Corp. in a research note on Monday, May 2nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. Tenet Healthcare Corp. currently has a consensus rating of “Hold” and an average target price of $33.86.

The firm’s market capitalization is $2.36 billion. The company’s 50 day moving average is $28.04 and its 200 day moving average is $28.25.

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

An institutional investor recently raised its position in Tenet Healthcare Corp. stock. BlackRock Advisors LLC boosted its position in Tenet Healthcare Corp. (NYSE:THC) by 26.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

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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