November 17, 2016 - By Hazel Jackson · 0 Comments
The stock of Tenet Healthcare Corporation New (NYSE:THC) registered a decrease of 0.45% in short interest. THC’s total short interest was 10.41 million shares in November as published by FINRA. Its down 0.45% from 10.46M shares, reported previously. With 1.63M shares average volume, it will take short sellers 6 days to cover their THC’s short positions. The short interest to Tenet Healthcare Corporation New’s float is 13.02%. About 1.51 million shares traded hands. Tenet Healthcare Corp (NYSE:THC) has declined 48.04% since April 15, 2016 and is downtrending. It has underperformed by 52.66% the S&P500.
Tenet Healthcare Corporation is a healthcare services company. The company has a market cap of $1.91 billion. The Firm operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets in the United States. It currently has negative earnings. The Firm operates through three divisions: Hospital Operations and other, Ambulatory Care and Conifer.
Insitutional Activity: The institutional sentiment decreased to 0.75 in 2016 Q2. Its down 0.15, from 0.9 in 2016Q1. The ratio is negative, as 50 funds sold all Tenet Healthcare Corp shares owned while 92 reduced positions. 36 funds bought stakes while 71 increased positions. They now own 96.93 million shares or 0.90% less from 97.81 million shares in 2016Q1.
Mutual Of America Capital Mgmt Lc accumulated 0.04% or 72,297 shares. Oregon Employees Retirement Fund, a Oregon-based fund reported 46,415 shares. Invesco last reported 0.01% of its portfolio in the stock. Checchi Advisers Lc accumulated 1,556 shares or 0% of the stock. Tipp Hill Cap Limited Liability Co holds 50,000 shares or 21.04% of its portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) has invested 0% of its portfolio in Tenet Healthcare Corp (NYSE:THC). Ladenburg Thalmann Fincl Svcs has 0.01% invested in the company for 12,923 shares. Hutchin Hill Ltd Partnership holds 0.05% of its portfolio in Tenet Healthcare Corp (NYSE:THC) for 55,400 shares. Bluemountain Cap last reported 0.07% of its portfolio in the stock. Moreover, Weaver C Barksdale And Associate has 0.14% invested in Tenet Healthcare Corp (NYSE:THC) for 2,957 shares. Texas Yale Cap has 0.03% invested in the company for 11,010 shares. Creative Planning holds 885 shares or 0% of its portfolio. Prtnrs Ltd Liability reported 238,500 shares or 0.52% of all its holdings. Tfs Limited Liability Corp has invested 0.22% of its portfolio in Tenet Healthcare Corp (NYSE:THC). Perceptive Advsr Lc owns 16,200 shares or 0.03% of their US portfolio.
Insider Transactions: Since November 9, 2016, the stock had 2 insider buys, and 0 selling transactions for $291,200 net activity. 15,000 shares with value of $215,250 were bought by Rittenmeyer Ronald A on Friday, November 11. On Wednesday, November 9 WILVER PETER M bought $75,950 worth of the stock or 5,000 shares.
Out of 12 analysts covering Tenet Healthcare Corporation (NYSE:THC), 3 rate it a “Buy”, 1 “Sell”, while 8 “Hold”. This means 25% are positive. Tenet Healthcare Corporation has been the topic of 27 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was reinitiated by Goldman Sachs with “Neutral” on Tuesday, July 21. The rating was upgraded by BMO Capital Markets on Monday, August 31 to “Outperform”. On Wednesday, September 16 the stock rating was initiated by JP Morgan with “Neutral”. BMO Capital Markets upgraded Tenet Healthcare Corp (NYSE:THC) on Friday, September 4 to “Outperform” rating. Barclays Capital initiated the shares of THC in a report on Thursday, September 10 with “Overweight” rating. The stock has “Neutral” rating given by Mizuho on Wednesday, May 4. The stock of Tenet Healthcare Corp (NYSE:THC) earned “Neutral” rating by Citigroup on Friday, October 2. The stock of Tenet Healthcare Corp (NYSE:THC) earned “Neutral” rating by Mizuho on Wednesday, October 5. Ladenburg Thalmann upgraded the shares of THC in a report on Monday, June 13 to “Underperform” rating. Citigroup maintained it with “Neutral” rating and $36 target price in Wednesday, May 4 report.
Tenet Healthcare Corporation (Tenet), incorporated on November 7, 1975, is a healthcare services company. The Firm operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets in the United States. The Firm operates through three divisions: Hospital Operations and Other, Ambulatory Care and Conifer. With its networks, including acute care and specialty hospitals, which are engaged in providing outpatient facilities and related businesses, the Company provides a range of healthcare services in the communities it serve. The Firm operates approximately 90 hospitals, 20 short-stay surgical hospitals, 475 outpatient centers and nine facilities in the United Kingdom and six health plans through its subsidiaries, partnerships and joint ventures. In addition, the Company’s Conifer Holdings, Inc. (Conifer) subsidiary provide healthcare business process services in the areas of revenue cycle management and technology-enabled performance improvement and health management solutions to health systems, as well as individual hospitals, physician practices, self-insured organizations and health plans. The Firm manages the activities of Hi-Desert Medical Center, which is its hospital that has approximately 60 beds, as well as a 120-bed skilled nursing facility, an ambulatory surgery center and an imaging center on the hospital’s campus in Joshua Tree, California.
More recent Tenet Healthcare Corp (NYSE:THC) news were published by: Fool.com which released: “Hospital Stocks Tenet Healthcare Corp. and Community Health Systems Are …” on November 15, 2016. Also Businesswire.com published the news titled: “SHAREHOLDER ALERT: Levi & Korsinsky, LLP Reminds Shareholders of Tenet …” on October 19, 2016. Businesswire.com‘s news article titled: “THC SHAREHOLDER ALERT: The Law Offices of Vincent Wong Notifies Investors of a …” with publication date: November 09, 2016 was also an interesting one.
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By Hazel Jackson