Tenet Healthcare Corp. (NYSE:THC) traded down 5.3% during mid-day trading on Tuesday . The company traded as low as $21.80 and last traded at $21.81, with a volume of 1,752,612 shares trading hands. The stock had previously closed at $23.04.

Several research analysts recently weighed in on the stock. Morgan Stanley reaffirmed a “hold” rating and issued a $38.00 target price on shares of Tenet Healthcare Corp. in a report on Tuesday, August 2nd. 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 report on Tuesday, August 2nd. Zacks Investment Research downgraded shares of Tenet Healthcare Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 19th. Citigroup Inc. dropped their target price on shares of Tenet Healthcare Corp. from $36.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, August 4th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Tenet Healthcare Corp. in a report on Monday, July 11th. One 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 has an average rating of “Hold” and a consensus target price of $33.72.

The stock’s market cap is $2.15 billion. The firm has a 50 day moving average price of $24.50 and a 200-day moving average price of $28.05.

Tenet Healthcare Corp. (NYSE:THC) last announced its earnings results on Monday, August 1st. The company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.14. Tenet Healthcare Corp. had a negative net margin of 1.15% and a positive return on equity of 14.47%. The company earned $4.87 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter last year, the business earned $0.75 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities research analysts predict that Tenet Healthcare Corp. will post $1.55 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its stake in shares of Tenet Healthcare Corp. by 222.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,647 shares of the company’s stock valued at $101,000 after buying an additional 2,515 shares during the period. US Bancorp DE raised its stake in shares of Tenet Healthcare Corp. by 0.9% in the second quarter. US Bancorp DE now owns 3,879 shares of the company’s stock valued at $107,000 after buying an additional 33 shares during the period. Emerald Acquisition Ltd. bought a new stake in shares of Tenet Healthcare Corp. during the second quarter valued at about $142,000. Acadian Asset Management LLC raised its stake in shares of Tenet Healthcare Corp. by 1,534.5% in the second quarter. Acadian Asset Management LLC now owns 6,211 shares of the company’s stock valued at $171,000 after buying an additional 5,831 shares during the period. Finally, Acrospire Investment Management LLC raised its stake in shares of Tenet Healthcare Corp. by 142.6% in the second quarter. Acrospire Investment Management LLC now owns 6,975 shares of the company’s stock valued at $193,000 after buying an additional 4,100 shares during the period.

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

5 Day Chart for NYSE:THC

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