An issue of Tenet Healthcare Corporation (NYSE:THC) debt rose 1.5% as a percentage of its face value during trading on Friday. The high-yield debt issue has a 8.125% coupon and is set to mature on April 1, 2022. The bonds in the issue are now trading at $104.50 and were trading at $106.50 one week ago. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its stock price.

A number of equities research analysts have issued reports on THC shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $26.00 price objective (down from $28.00) on shares of Tenet Healthcare Corporation in a research report on Saturday, April 29th. Credit Suisse Group upped their price objective on shares of Tenet Healthcare Corporation from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, May 15th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $24.00 price objective (down from $28.00) on shares of Tenet Healthcare Corporation in a research report on Thursday. Robert W. Baird reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of Tenet Healthcare Corporation in a research report on Thursday. Finally, BidaskClub downgraded shares of Tenet Healthcare Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Tenet Healthcare Corporation currently has a consensus rating of “Hold” and an average price target of $22.67.

Tenet Healthcare Corporation (THC) traded up 4.93% during mid-day trading on Friday, reaching $14.05. 8,988,806 shares of the company’s stock traded hands. Tenet Healthcare Corporation has a 12-month low of $13.21 and a 12-month high of $25.89. The stock has a 50 day moving average of $18.20 and a 200 day moving average of $18.04. The company’s market cap is $1.42 billion.

Tenet Healthcare Corporation (NYSE:THC) last issued its quarterly earnings results on Monday, August 7th. The company reported ($0.17) earnings per share for the quarter, meeting the consensus estimate of ($0.17). Tenet Healthcare Corporation had a negative net margin of 0.97% and a negative return on equity of 2.00%. The business had revenue of $14.80 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The company’s revenue for the quarter was up 204.1% on a year-over-year basis. On average, equities research analysts predict that Tenet Healthcare Corporation will post $0.83 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. Harris Associates L P increased its position in Tenet Healthcare Corporation by 2.2% in the first quarter. Harris Associates L P now owns 7,625,365 shares of the company’s stock valued at $135,046,000 after buying an additional 166,100 shares during the period. Vanguard Group Inc. increased its position in Tenet Healthcare Corporation by 6.2% in the second quarter. Vanguard Group Inc. now owns 6,995,269 shares of the company’s stock valued at $135,289,000 after buying an additional 407,910 shares during the period. Franklin Resources Inc. increased its position in Tenet Healthcare Corporation by 25.0% in the second quarter. Franklin Resources Inc. now owns 5,000,000 shares of the company’s stock valued at $96,700,000 after buying an additional 1,000,000 shares during the period. FMR LLC increased its position in Tenet Healthcare Corporation by 36.9% in the second quarter. FMR LLC now owns 3,724,713 shares of the company’s stock valued at $72,036,000 after buying an additional 1,004,700 shares during the period. Finally, State Street Corp increased its position in Tenet Healthcare Corporation by 1.2% in the first quarter. State Street Corp now owns 2,333,013 shares of the company’s stock valued at $41,316,000 after buying an additional 27,898 shares during the period.

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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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