An issue of Tenet Healthcare Corp. (NYSE:THC) debt fell 1.5% as a percentage of its face value during trading on Wednesday. The debt issue has a 8.125% coupon and will mature on April 1, 2022. The debt is now trading at $91.50 and was trading at $94.88 last week. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its stock price.

THC has been the subject of several research analyst reports. Mizuho reiterated a “neutral” rating and issued a $28.00 price objective (down previously from $33.00) on shares of Tenet Healthcare Corp. in a research report on Tuesday, August 2nd. Morgan Stanley reiterated a “hold” rating and issued a $38.00 price objective on shares of Tenet Healthcare Corp. in a research report on Tuesday, August 2nd. Zacks Investment Research cut Tenet Healthcare Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, August 3rd. Citigroup Inc. cut their price objective on Tenet Healthcare Corp. from $36.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, August 4th. Finally, Barclays PLC reiterated a “buy” rating and issued a $39.00 price objective on shares of Tenet Healthcare Corp. in a research report on Friday, August 19th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $30.69.

Tenet Healthcare Corp. (NYSE:THC) traded up 1.60% during mid-day trading on Wednesday, reaching $15.23. The company had a trading volume of 2,260,284 shares. Tenet Healthcare Corp. has a 12 month low of $14.06 and a 12 month high of $35.35. The stock’s 50-day moving average is $19.20 and its 200 day moving average is $24.65. The firm’s market capitalization is $1.52 billion.

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

In other Tenet Healthcare Corp. news, Director Peter M. Wilver purchased 5,000 shares of Tenet Healthcare Corp. stock in a transaction on Wednesday, November 9th. The stock was bought at an average price of $15.19 per share, for a total transaction of $75,950.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $75,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ronald A. Rittenmeyer purchased 15,000 shares of Tenet Healthcare Corp. stock in a transaction on Friday, November 11th. The shares were acquired at an average price of $14.35 per share, with a total value of $215,250.00. Following the transaction, the director now directly owns 23,783 shares in the company, valued at approximately $341,286.05. The disclosure for this purchase can be found here. Company insiders own 2.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Icon Advisers Inc. Co. acquired a new position in shares of Tenet Healthcare Corp. during the third quarter worth about $1,937,000. Harris Associates L P raised its position in shares of Tenet Healthcare Corp. by 0.7% in the second quarter. Harris Associates L P now owns 8,333,793 shares of the company’s stock worth $230,346,000 after buying an additional 60,200 shares during the period. Nomura Holdings Inc. raised its position in shares of Tenet Healthcare Corp. by 26.3% in the second quarter. Nomura Holdings Inc. now owns 10,355 shares of the company’s stock worth $286,000 after buying an additional 2,157 shares during the period. Winslow Asset Management Inc. raised its position in shares of Tenet Healthcare Corp. by 0.9% in the second quarter. Winslow Asset Management Inc. now owns 225,850 shares of the company’s stock worth $6,242,000 after buying an additional 1,976 shares during the period. Finally, Retirement Systems of Alabama raised its position in shares of Tenet Healthcare Corp. by 157.0% in the second quarter. Retirement Systems of Alabama now owns 128,098 shares of the company’s stock worth $3,541,000 after buying an additional 78,248 shares during the period.

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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.

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