Investors Purchase High Volume of Tenet Healthcare Corporation Put Options (THC)
Tenet Healthcare Corporation (NYSE:THC) was the recipient of some unusual options trading on Monday. Investors bought 14,690 put options on the company. This is an increase of 974% compared to the average volume of 1,368 put options.
Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in Tenet Healthcare Corporation by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,593,881 shares of the company’s stock worth $23,654,000 after buying an additional 24,668 shares during the last quarter. AQR Capital Management LLC acquired a new position in Tenet Healthcare Corporation during the fourth quarter worth approximately $471,000. Thrivent Financial for Lutherans raised its position in Tenet Healthcare Corporation by 10.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 13,820 shares of the company’s stock worth $205,000 after buying an additional 1,360 shares during the last quarter. Norges Bank acquired a new position in Tenet Healthcare Corporation during the fourth quarter worth approximately $18,545,000. Finally, Bank of Montreal Can raised its position in Tenet Healthcare Corporation by 119.3% in the first quarter. Bank of Montreal Can now owns 12,667 shares of the company’s stock worth $223,000 after buying an additional 6,892 shares during the last quarter.
Tenet Healthcare Corporation (NYSE:THC) opened at 13.53 on Thursday. Tenet Healthcare Corporation has a 12 month low of $13.31 and a 12 month high of $28.08. The stock’s 50 day moving average price is $18.91 and its 200-day moving average price is $18.21. The company’s market capitalization is $1.36 billion.
Tenet Healthcare Corporation (NYSE:THC) last issued its earnings results on Monday, August 7th. The company reported ($0.17) earnings per share for the quarter, meeting the consensus estimate of ($0.17). The company had revenue of $14.80 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Tenet Healthcare Corporation had a negative return on equity of 1.98% and a negative net margin of 0.97%. Tenet Healthcare Corporation’s quarterly revenue was up 204.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 EPS. On average, equities research analysts predict that Tenet Healthcare Corporation will post $1.12 EPS for the current fiscal year.
A number of analysts have recently commented on THC shares. ValuEngine lowered Tenet Healthcare Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Credit Suisse Group lifted their price target on Tenet Healthcare Corporation from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, May 5th. Jefferies Group LLC reissued a “buy” rating and set a $28.00 price target on shares of Tenet Healthcare Corporation in a research note on Thursday, April 13th. Royal Bank Of Canada reissued a “hold” rating and set a $25.00 price target on shares of Tenet Healthcare Corporation in a research note on Tuesday, July 18th. Finally, Mizuho reissued a “neutral” rating and set a $18.00 price target on shares of Tenet Healthcare Corporation in a research note on Sunday, April 23rd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Tenet Healthcare Corporation presently has a consensus rating of “Hold” and an average price target of $23.21.
About Tenet Healthcare Corporation
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.
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