An issue of Tenet Healthcare Corporation (NYSE:THC) bonds fell 2.3% as a percentage of their face value during trading on Tuesday. The high-yield issue of debt has a 6.875% coupon and will mature on November 15, 2031. The bonds in the issue are now trading at $85.97 and were trading at $88.13 one week ago. Price moves in a company’s bonds in credit markets sometimes predict parallel moves in its stock price.

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

Tenet Healthcare Corporation (THC) opened at 15.69 on Thursday. Tenet Healthcare Corporation has a 52 week low of $12.54 and a 52 week high of $24.13. The company’s market capitalization is $1.58 billion. The firm has a 50 day moving average of $16.25 and a 200-day moving average of $17.21.

Tenet Healthcare Corporation (NYSE:THC) last posted its quarterly earnings results on Monday, August 7th. The company reported ($0.17) earnings per share for the quarter, meeting analysts’ consensus estimates 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 last year, the company posted $0.38 EPS. The firm’s quarterly revenue was up 204.1% compared to the same quarter last year. On average, analysts forecast that Tenet Healthcare Corporation will post $0.80 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of THC. First Trust Advisors LP boosted its stake in shares of Tenet Healthcare Corporation by 583.0% in the 1st quarter. First Trust Advisors LP now owns 180,398 shares of the company’s stock valued at $3,195,000 after purchasing an additional 153,984 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Tenet Healthcare Corporation by 3.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,041,675 shares of the company’s stock valued at $18,449,000 after purchasing an additional 34,995 shares in the last quarter. Comerica Bank boosted its stake in shares of Tenet Healthcare Corporation by 5.0% in the 1st quarter. Comerica Bank now owns 61,863 shares of the company’s stock valued at $957,000 after purchasing an additional 2,963 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Tenet Healthcare Corporation by 634.6% in the 1st quarter. UBS Asset Management Americas Inc. now owns 816,416 shares of the company’s stock valued at $14,459,000 after purchasing an additional 705,276 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new stake in shares of Tenet Healthcare Corporation in the 1st quarter valued at approximately $860,000.

WARNING: This piece of content was originally published by Watch List News and is the sole property of of Watch List News. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of United States and international copyright laws. The original version of this piece of content can be read at https://www.watchlistnews.com/tenet-healthcare-corporation-thc-bonds-drop-2-3-during-trading/1609907.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 & 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 companies with Analyst Ratings Network's FREE daily email newsletter.