Tenet Healthcare Corporation (NYSE:THC) shares gapped down prior to trading on Wednesday after Credit Suisse Group lowered their price target on the stock from $20.00 to $17.00. The stock had previously closed at $12.96, but opened at $14.28. Credit Suisse Group currently has a neutral rating on the stock. Tenet Healthcare Corporation shares last traded at $13.72, with a volume of 6,328,900 shares traded.

THC has been the subject of several other reports. ValuEngine lowered shares of Tenet Healthcare Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Jefferies Group LLC reiterated a “buy” rating and issued a $28.00 price target on shares of Tenet Healthcare Corporation in a research note on Thursday, April 13th. BidaskClub lowered shares of Tenet Healthcare Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Royal Bank Of Canada restated a “hold” rating and set a $25.00 price objective on shares of Tenet Healthcare Corporation in a research note on Tuesday, July 18th. Finally, Mizuho restated a “neutral” rating and set a $18.00 price objective on shares of Tenet Healthcare Corporation in a research note on Sunday, April 23rd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $23.20.

Hedge funds have recently made changes to their positions in the stock. FNY Managed Accounts LLC bought a new stake in shares of Tenet Healthcare Corporation during the first quarter worth about $109,000. PNC Financial Services Group Inc. increased its stake in shares of Tenet Healthcare Corporation by 52.1% in the first quarter. PNC Financial Services Group Inc. now owns 6,618 shares of the company’s stock worth $117,000 after buying an additional 2,266 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Tenet Healthcare Corporation by 57.4% in the first quarter. Nomura Asset Management Co. Ltd. now owns 7,100 shares of the company’s stock worth $126,000 after buying an additional 2,590 shares during the last quarter. First Mercantile Trust Co. increased its stake in shares of Tenet Healthcare Corporation by 23.8% in the first quarter. First Mercantile Trust Co. now owns 9,900 shares of the company’s stock worth $175,000 after buying an additional 1,900 shares during the last quarter. Finally, Advantus Capital Management Inc increased its stake in shares of Tenet Healthcare Corporation by 3.2% in the first quarter. Advantus Capital Management Inc now owns 10,223 shares of the company’s stock worth $181,000 after buying an additional 317 shares during the last quarter.

The company’s market cap is $1.36 billion. The stock’s 50 day moving average price is $18.46 and its 200 day moving average price is $18.10. Tenet Healthcare Corporation also was the target of unusually large options trading on Monday. Stock investors purchased 14,690 put options on the company. This is an increase of 974% compared to the typical volume of 1,368 put options.

Tenet Healthcare Corporation (NYSE:THC) last issued its earnings results on Monday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.17). Tenet Healthcare Corporation had a negative return on equity of 1.98% and a negative net margin of 0.97%. The business had revenue of $14.80 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period last year, the company earned $0.38 EPS. The company’s revenue for the quarter was up 204.1% on a year-over-year basis. On average, analysts forecast that Tenet Healthcare Corporation will post $1.12 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “Tenet Healthcare Corporation (NYSE:THC) Shares Gap Down After Analyst Downgrade” was published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this piece can be read at https://www.thecerbatgem.com/2017/08/10/tenet-healthcare-corporation-nysethc-shares-gap-down-after-analyst-downgrade.html.

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.

Receive News & Stock Ratings for Tenet Healthcare Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenet Healthcare Corporation and related stocks with our FREE daily email newsletter.