Tenet Healthcare Corp. (NYSE:THC) saw unusually-strong trading volume on Friday . Approximately 6,984,639 shares traded hands during trading, an increase of 274% from the previous session’s volume of 1,868,050 shares.The stock last traded at $23.09 and had previously closed at $22.80.

A number of equities research analysts recently issued reports on THC shares. Morgan Stanley reaffirmed a “hold” rating and issued a $38.00 target price on shares of Tenet Healthcare Corp. in a research note on Tuesday, August 2nd. Jefferies Group reaffirmed a “buy” rating on shares of Tenet Healthcare Corp. in a research note on Monday, July 11th. Zacks Investment Research lowered Tenet Healthcare Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. Mizuho reaffirmed a “neutral” rating and issued a $28.00 target price (down previously from $33.00) on shares of Tenet Healthcare Corp. in a research note on Tuesday, August 2nd. Finally, Barclays PLC reaffirmed a “buy” rating and issued a $39.00 target price on shares of Tenet Healthcare Corp. in a research note on Friday, August 19th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $33.72.

The stock’s 50 day moving average is $25.77 and its 200 day moving average is $28.22. The company’s market capitalization is $2.30 billion.

Tenet Healthcare Corp. (NYSE:THC) last issued its earnings results on Monday, August 1st. The company reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.14. The business had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.82 billion. Tenet Healthcare Corp. had a positive return on equity of 14.47% and a negative net margin of 1.15%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.75 earnings per share. Analysts anticipate that Tenet Healthcare Corp. will post $1.55 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Tenet Healthcare Corp. during the fourth quarter worth $24,218,000. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Tenet Healthcare Corp. by 2.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 83,137 shares of the company’s stock worth $2,405,000 after buying an additional 1,829 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Tenet Healthcare Corp. during the first quarter worth $399,000. Aperio Group LLC boosted its stake in shares of Tenet Healthcare Corp. by 10.5% in the first quarter. Aperio Group LLC now owns 32,069 shares of the company’s stock worth $928,000 after buying an additional 3,039 shares during the last quarter. Finally, Nisa Investment Advisors L.L.C. boosted its stake in shares of Tenet Healthcare Corp. by 26.9% in the first quarter. Nisa Investment Advisors L.L.C. now owns 21,200 shares of the company’s stock worth $613,000 after buying an additional 4,500 shares during the last quarter.

About Tenet Healthcare Corp.

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 operates through three segments: Hospital Operations and other, Ambulatory Care and Conifer.

5 Day Chart for NYSE:THC

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