Today’s Market Runner: Institutional Investors Are Dumping Tenet Healthcare Corp (NYSE:THC)

November 29, 2016 - By kentuckypostne   ·   0 Comments

Today's Market Runner: Institutional Investors Are Dumping Tenet Healthcare Corp (NYSE:THC)

Sentiment for Tenet Healthcare Corp (NYSE:THC)

Tenet Healthcare Corp (NYSE:THC) institutional sentiment increased to 0.81 in 2016 Q2. Its up 0.06, from 0.75 in 2016Q1. The ratio increased, as 107 investment professionals started new or increased stock positions, while 142 decreased and sold stock positions in Tenet Healthcare Corp. The investment professionals in our partner’s database now own: 96.93 million shares, down from 97.81 million shares in 2016Q1. Also, the number of investment professionals holding Tenet Healthcare Corp in their top 10 stock positions decreased from 4 to 1 for a decrease of 3. Sold All: 50 Reduced: 92 Increased: 71 New Position: 36.

Tenet Healthcare Corporation is a healthcare services company. The company has a market cap of $1.43 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.

About 2.09 million shares traded hands. Tenet Healthcare Corp (NYSE:THC) has declined 52.72% since April 26, 2016 and is downtrending. It has underperformed by 57.98% the S&P500.

Analysts await Tenet Healthcare Corp (NYSE:THC) to report earnings on February, 27. They expect $0.27 EPS, down 22.86% or $0.08 from last year’s $0.35 per share. THC’s profit will be $25.62 million for 13.95 P/E if the $0.27 EPS becomes a reality. After $0.16 actual EPS reported by Tenet Healthcare Corp for the previous quarter, Wall Street now forecasts 68.75% EPS growth.

According to Zacks Investment Research, “Tenet Healthcare Corp. is an investor-owned health care services company. The company owns or operates general hospitals and related health care facilities serving urban and rural communities in numerous states, and holds investments in other health care companies. The related health care facilities includes a small number of rehabilitation hospitals, specialty hospitals, and long-term care facilities.”

Tipp Hill Capital Management Llc holds 21.04% of its portfolio in Tenet Healthcare Corp for 50,000 shares. Glenview Capital Management Llc owns 17.89 million shares or 3.5% of their US portfolio. Moreover, Glenhill Advisors Llc has 2.59% invested in the company for 1.30 million shares. The New York-based Armistice Capital Llc has invested 2.4% in the stock. Sivik Global Healthcare Llc, a Connecticut-based fund reported 175,000 shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 2 buys, and 0 selling transactions for $291,200 net activity.

Tenet Healthcare Corp (NYSE:THC) Ratings Coverage

Ratings analysis reveals 25% of Tenet Healthcare Corporation’s analysts are positive. Out of 12 Wall Street analysts rating Tenet Healthcare Corporation, 3 give it “Buy”, 2 “Sell” rating, while 7 recommend “Hold”. The lowest target is $13 while the high is $68. The stock’s average target of $39.67 is 163.24% above today’s ($15.07) share price. THC was included in 28 notes of analysts from July 21, 2015. The firm has “Market Perform” rating given on Monday, January 4 by Wells Fargo. The rating was maintained by Mizuho on Wednesday, October 5 with “Neutral”. The stock has “Neutral” rating given by Citigroup on Wednesday, May 4. Mizuho upgraded the shares of THC in a report on Tuesday, January 19 to “Buy” rating. Zacks downgraded the shares of THC in a report on Friday, August 7 to “Buy” rating. The rating was downgraded by Raymond James to “Mkt Perform” on Thursday, November 10. The firm has “Outperform” rating given on Monday, August 31 by BMO Capital Markets. Citigroup maintained the shares of THC in a report on Thursday, August 4 with “Neutral” rating. On Thursday, October 22 the stock rating was downgraded by Mizuho to “Neutral”. The rating was maintained by Mizuho with “Neutral” on Wednesday, December 2.

THC Company Profile

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.

Another recent and important Tenet Healthcare Corp (NYSE:THC) news was published by Fool.com which published an article titled: “Hospital Stocks Tenet Healthcare Corp. and Community Health Systems Are …” on November 15, 2016.

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