An issue of Tenet Healthcare Corp. (NYSE:THC) bonds fell 0.3% as a percentage of their face value during trading on Monday. The high-yield debt issue has a 6.75% coupon and will mature on June 15, 2023. The bonds in the issue are now trading at $88.50 and were trading at $88.88 one week ago. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its stock price.

Several research analysts have recently commented on THC shares. Mizuho downgraded Tenet Healthcare Corp. from a “neutral” rating to an “underperform” rating and set a $13.00 target price for the company. in a research note on Tuesday, November 22nd. Barclays PLC reiterated a “buy” rating and set a $39.00 target price on shares of Tenet Healthcare Corp. in a research note on Friday, August 19th. Zacks Investment Research upgraded Tenet Healthcare Corp. from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Tuesday, October 4th. TheStreet downgraded Tenet Healthcare Corp. from a “hold” rating to a “sell” rating in a research note on Friday, October 7th. Finally, Wolfe Research started coverage on Tenet Healthcare Corp. in a research note on Tuesday, October 25th. They issued a “market perform” rating for the company. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company. Tenet Healthcare Corp. has a consensus rating of “Hold” and an average price target of $30.69.

Tenet Healthcare Corp. (NYSE:THC) opened at 14.99 on Wednesday. The firm has a 50-day moving average price of $19.38 and a 200-day moving average price of $24.75. Tenet Healthcare Corp. has a one year low of $14.06 and a one year high of $35.35. The firm’s market cap is $1.49 billion.

Tenet Healthcare Corp. (NYSE:THC) last released its earnings results on Monday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.01. Tenet Healthcare Corp. had a positive return on equity of 12.75% and a negative net margin of 1.04%. The firm earned $4.85 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the prior year, the business earned $0.29 earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities analysts expect that Tenet Healthcare Corp. will post $1.21 EPS for the current fiscal year.

In other news, Director Ronald A. Rittenmeyer bought 15,000 shares of the firm’s stock in a transaction on Friday, November 11th. The stock was acquired at an average cost of $14.35 per share, with a total value of $215,250.00. Following the completion of the transaction, the director now directly owns 23,783 shares of the company’s stock, valued at approximately $341,286.05. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter M. Wilver bought 5,000 shares of the firm’s stock in a transaction on Wednesday, November 9th. The stock was purchased at an average cost of $15.19 per share, with a total value of $75,950.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $75,950. The disclosure for this purchase can be found here. 2.90% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the company. Harris Associates L P raised its position in Tenet Healthcare Corp. by 0.9% in the third quarter. Harris Associates L P now owns 8,411,922 shares of the company’s stock worth $190,615,000 after buying an additional 78,129 shares during the last quarter. BlackRock Advisors LLC raised its position in Tenet Healthcare Corp. by 86.2% in the third quarter. BlackRock Advisors LLC now owns 4,567,713 shares of the company’s stock worth $103,504,000 after buying an additional 2,114,791 shares during the last quarter. BlackRock Fund Advisors raised its position in Tenet Healthcare Corp. by 94.3% in the second quarter. BlackRock Fund Advisors now owns 3,611,528 shares of the company’s stock worth $99,823,000 after buying an additional 1,753,061 shares during the last quarter. BlackRock Group LTD raised its position in Tenet Healthcare Corp. by 71.8% in the third quarter. BlackRock Group LTD now owns 1,877,045 shares of the company’s stock worth $42,533,000 after buying an additional 784,764 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Tenet Healthcare Corp. by 49.2% in the second quarter. Bank of New York Mellon Corp now owns 1,296,517 shares of the company’s stock worth $35,837,000 after buying an additional 427,803 shares during the last quarter.

ILLEGAL ACTIVITY WARNING: “Tenet Healthcare Corp. (THC) Bonds Trading 0.3% Lower” was posted by Financial Market News and is the sole property of of Financial Market News. If you are viewing this article on another publication, it was copied illegally and reposted in violation of U.S. & international copyright & trademark law. The legal version of this article can be accessed at http://www.financial-market-news.com/tenet-healthcare-corp-thc-bonds-trading-0-3-lower/1210256/.

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

Receive News & Ratings for Tenet Healthcare Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenet Healthcare Corp. and related companies with MarketBeat.com's FREE daily email newsletter.