Tenet Healthcare Corporation (NYSE:THC) was up 5.5% during mid-day trading on Monday . The stock traded as high as $18.16 and last traded at $18.12. Approximately 5,345,962 shares changed hands during mid-day trading, an increase of 36% from the average daily volume of 3,935,150 shares. The stock had previously closed at $17.17.

Several equities research analysts recently issued reports on THC shares. ValuEngine downgraded shares of Tenet Healthcare Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Leerink Swann reiterated an “outperform” rating and issued a $30.00 target price (up from $23.00) on shares of Tenet Healthcare Corporation in a research note on Sunday, August 20th. Royal Bank Of Canada reiterated a “hold” rating and issued a $25.00 target price on shares of Tenet Healthcare Corporation in a research note on Thursday, August 24th. Mizuho reiterated a “neutral” rating and issued a $14.00 target price on shares of Tenet Healthcare Corporation in a research note on Sunday, August 20th. Finally, Credit Suisse Group cut their target price on shares of Tenet Healthcare Corporation from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Tenet Healthcare Corporation currently has a consensus rating of “Hold” and an average target price of $21.43.

The firm’s market cap is $1.78 billion. The company has a 50-day moving average of $16.73 and a 200 day moving average of $17.71.

Tenet Healthcare Corporation (NYSE:THC) last posted its quarterly earnings results on Monday, August 7th. The company reported ($0.17) earnings per share (EPS) 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 company had revenue of $14.80 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the previous year, the firm posted $0.38 earnings per share. The company’s quarterly revenue was up 204.1% compared to the same quarter last year. Equities analysts predict that Tenet Healthcare Corporation will post $0.83 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of THC. FNY Managed Accounts LLC bought a new stake in shares of Tenet Healthcare Corporation in the first quarter valued at approximately $109,000. PNC Financial Services Group Inc. increased its holdings in Tenet Healthcare Corporation by 52.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,618 shares of the company’s stock worth $117,000 after acquiring an additional 2,266 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in Tenet Healthcare Corporation by 57.4% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 7,100 shares of the company’s stock worth $126,000 after acquiring an additional 2,590 shares during the period. Riverhead Capital Management LLC increased its holdings in Tenet Healthcare Corporation by 67.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 7,861 shares of the company’s stock worth $152,000 after acquiring an additional 3,161 shares during the period. Finally, Flinton Capital Management LLC increased its holdings in Tenet Healthcare Corporation by 65.7% during the 2nd quarter. Flinton Capital Management LLC now owns 7,888 shares of the company’s stock worth $153,000 after acquiring an additional 3,128 shares during the period.

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Tenet Healthcare Corporation Company Profile

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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