An issue of Tenet Healthcare Corp. (NYSE:THC) bonds fell 0.9% as a percentage of their face value during trading on Monday. The high-yield issue of debt has a 6.75% coupon and will mature on June 15, 2023. The debt is now trading at $92.25 and was trading at $94.09 last week. Price moves in a company’s bonds in credit markets sometimes predict parallel moves in its stock price.

A number of analysts recently issued reports on THC shares. Leerink Swann restated a “market perform” rating and set a $28.00 target price (down previously from $30.00) on shares of Tenet Healthcare Corp. in a research report on Sunday, September 4th. Barclays PLC restated a “buy” rating and set a $39.00 target price on shares of Tenet Healthcare Corp. in a research report on Friday, August 19th. Ladenburg Thalmann upgraded shares of Tenet Healthcare Corp. from a “not rated” rating to an “underperform” rating in a research report on Monday, June 13th. Zacks Investment Research upgraded shares of Tenet Healthcare Corp. from a “strong sell” rating to a “hold” rating in a research report on Friday, September 2nd. Finally, Credit Suisse Group AG restated a “hold” rating on shares of Tenet Healthcare Corp. in a research report on Tuesday, June 28th. 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’s stock. Tenet Healthcare Corp. currently has a consensus rating of “Hold” and an average price target of $33.72.

Shares of Tenet Healthcare Corp. (NYSE:THC) opened at 23.04 on Tuesday. The company’s 50-day moving average is $24.88 and its 200 day moving average is $28.13. The stock’s market cap is $2.29 billion. Tenet Healthcare Corp. has a 1-year low of $21.39 and a 1-year high of $45.12.

Tenet Healthcare Corp. (NYSE:THC) last announced 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. Tenet Healthcare Corp. had a negative net margin of 1.15% and a positive return on equity of 14.47%. The company had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the previous year, the firm posted $0.75 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts anticipate that Tenet Healthcare Corp. will post $1.55 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Chevy Chase Trust Holdings Inc. increased its position in shares of Tenet Healthcare Corp. by 2.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 83,137 shares of the company’s stock worth $2,405,000 after buying an additional 1,829 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Tenet Healthcare Corp. during the first quarter worth approximately $399,000. Aperio Group LLC increased its position in shares of Tenet Healthcare Corp. by 10.5% in the first quarter. Aperio Group LLC now owns 32,069 shares of the company’s stock worth $928,000 after buying an additional 3,039 shares during the last quarter. Nisa Investment Advisors L.L.C. increased its position in shares of Tenet Healthcare Corp. by 26.9% in the first quarter. Nisa Investment Advisors L.L.C. now owns 21,200 shares of the company’s stock worth $613,000 after buying an additional 4,500 shares during the last quarter. Finally, Ramsey Quantitative Systems bought a new position in shares of Tenet Healthcare Corp. during the first quarter worth approximately $529,000.

About Tenet Healthcare Corp.

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.

5 Day Chart for NYSE:THC

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