Tenet Healthcare Corporation (NYSE:THC) shares rose 2.3% during mid-day trading on Friday . The stock traded as high as $17.56 and last traded at $16.76. Approximately 2,553,129 shares traded hands during trading, a decline of 41% from the average daily volume of 4,326,860 shares. The stock had previously closed at $17.16.

A number of analysts recently issued reports on THC shares. Mizuho reiterated a “neutral” rating and issued a $14.00 price target on shares of Tenet Healthcare Corporation in a report on Thursday. Jefferies Group LLC reiterated a “buy” rating and issued a $24.00 price target (down previously from $26.00) on shares of Tenet Healthcare Corporation in a report on Tuesday, August 8th. Credit Suisse Group lowered their price target on Tenet Healthcare Corporation from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, August 9th. Deutsche Bank AG reiterated a “buy” rating and issued a $24.00 price target (down previously from $28.00) on shares of Tenet Healthcare Corporation in a report on Thursday, August 10th. Finally, Leerink Swann reiterated an “outperform” rating and issued a $30.00 price target (up previously from $23.00) on shares of Tenet Healthcare Corporation in a report on Sunday, August 20th. 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 issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $21.43.

The company’s market capitalization is $1.68 billion. The firm has a 50 day moving average price of $16.11 and a 200-day moving average price of $17.57.

Tenet Healthcare Corporation (NYSE:THC) last issued its quarterly earnings results on Monday, August 7th. The company reported ($0.17) EPS for the quarter, meeting the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter last year, the company posted $0.38 EPS. The firm’s revenue was up 204.1% compared to the same quarter last year. Equities research analysts forecast that Tenet Healthcare Corporation will post $0.82 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the company. FNY Managed Accounts LLC purchased a new stake in shares of Tenet Healthcare Corporation during the 1st quarter worth $109,000. PNC Financial Services Group Inc. lifted its position in shares of 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 purchasing an additional 2,266 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of 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 purchasing an additional 2,590 shares during the last quarter. Riverhead Capital Management LLC lifted its position in shares of 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 purchasing an additional 3,161 shares during the last quarter. Finally, Flinton Capital Management LLC lifted its position in shares of 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 purchasing an additional 3,128 shares during the last quarter.

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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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