Tenet Healthcare Corporation (NYSE:THC)’s share price dropped 5% during mid-day trading on Wednesday . The company traded as low as $15.60 and last traded at $15.69. Approximately 2,297,702 shares traded hands during trading, a decline of 47% from the average daily volume of 4,350,350 shares. The stock had previously closed at $16.52.

THC has been the topic of a number of research reports. Mizuho reissued a “neutral” rating and set a $14.00 target price on shares of Tenet Healthcare Corporation in a report on Thursday, September 14th. Jefferies Group LLC reissued a “buy” rating and set a $24.00 target price (down from $26.00) on shares of Tenet Healthcare Corporation in a report on Tuesday, August 8th. Credit Suisse Group AG reduced their target price on shares of Tenet Healthcare Corporation from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, August 9th. Deutsche Bank AG reissued a “buy” rating and set a $24.00 target price (down from $28.00) on shares of Tenet Healthcare Corporation in a report on Thursday, August 10th. Finally, Leerink Swann reissued an “outperform” rating and set a $30.00 target price (up from $23.00) on shares of Tenet Healthcare Corporation in a report on Sunday, August 20th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $21.00.

The firm’s market cap is $1.58 billion. The firm has a 50 day moving average price of $16.33 and a 200-day moving average price of $17.20.

Tenet Healthcare Corporation (NYSE:THC) last issued its earnings results on Monday, August 7th. The company reported ($0.17) EPS for the quarter, hitting 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 the consensus estimate of $4.90 billion. During the same period in the previous year, the firm earned $0.38 earnings per share. The firm’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 $0.80 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. FNY Managed Accounts LLC bought a new stake in Tenet Healthcare Corporation in the first quarter valued at $109,000. PNC Financial Services Group Inc. boosted its holdings 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 acquiring an additional 2,266 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings 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 acquiring an additional 2,590 shares in the last quarter. Riverhead Capital Management LLC boosted its holdings 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 acquiring an additional 3,161 shares in the last quarter. Finally, Flinton Capital Management LLC boosted its holdings 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 acquiring 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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