Tenet Healthcare Corporation (NYSE:THC) was the target of some unusual options trading activity on Friday. Stock traders acquired 11,165 call options on the company. This is an increase of approximately 775% compared to the typical volume of 1,276 call options.

Shares of Tenet Healthcare Corporation (NYSE:THC) opened at 14.45 on Monday. The company’s market cap is $1.46 billion. Tenet Healthcare Corporation has a 12 month low of $12.54 and a 12 month high of $24.96. The stock’s 50 day moving average price is $17.36 and its 200-day moving average price is $17.86.

Tenet Healthcare Corporation (NYSE:THC) last released its earnings results on Monday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.17). Tenet Healthcare Corporation had a negative return on equity of 2.00% and a negative net margin of 0.97%. The firm had revenue of $14.80 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter last year, the business posted $0.38 earnings per share. The firm’s revenue was up 204.1% on a year-over-year basis. Equities research analysts expect that Tenet Healthcare Corporation will post $0.82 earnings per share for the current year.

A number of analysts have weighed in on the stock. Mizuho reissued a “neutral” rating and set a $14.00 target price on shares of Tenet Healthcare Corporation in a research report on Sunday. Leerink Swann reaffirmed an “outperform” rating and set a $23.00 price objective (down previously from $27.00) on shares of Tenet Healthcare Corporation in a research report on Sunday. Deutsche Bank AG reaffirmed a “buy” rating and set a $24.00 price objective (down previously from $28.00) on shares of Tenet Healthcare Corporation in a research report on Thursday, August 10th. Citigroup Inc. reaffirmed a “neutral” rating and set a $16.00 price objective (down previously from $20.00) on shares of Tenet Healthcare Corporation in a research report on Thursday, August 10th. Finally, Robert W. Baird restated an “outperform” rating and set a $23.00 price objective on shares of Tenet Healthcare Corporation in a research note on Thursday, August 10th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Tenet Healthcare Corporation presently has an average rating of “Hold” and an average price target of $20.93.

Several hedge funds have recently added to or reduced their stakes in THC. FNY Managed Accounts LLC acquired a new stake in Tenet Healthcare Corporation during the first quarter valued at about $109,000. PNC Financial Services Group Inc. boosted its stake in 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 valued at $117,000 after buying an additional 2,266 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in 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 valued at $126,000 after buying an additional 2,590 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in Tenet Healthcare Corporation by 67.3% in the second quarter. Riverhead Capital Management LLC now owns 7,861 shares of the company’s stock valued at $152,000 after buying an additional 3,161 shares in the last quarter. Finally, Flinton Capital Management LLC boosted its stake in Tenet Healthcare Corporation by 65.7% in the second quarter. Flinton Capital Management LLC now owns 7,888 shares of the company’s stock valued at $153,000 after buying an additional 3,128 shares in 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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