What’s Propelling Tenet Healthcare Corporation (THC) to Reach 52-Week High?

May 16, 2018 - By Henry Gaston

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Investors sentiment decreased to 0.88 in 2017 Q4. Its down 0.45, from 1.33 in 2017Q3. It worsened, as 38 investors sold Tenet Healthcare Corporation shares while 64 reduced holdings. 32 funds opened positions while 58 raised stakes. 113.62 million shares or 7.16% less from 122.38 million shares in 2017Q3 were reported.
Rhumbline Advisers, Massachusetts-based fund reported 154,819 shares. 2,947 are held by Ls Investment Advisors Ltd. Pacad Invest invested 0% of its portfolio in Tenet Healthcare Corporation (NYSE:THC). Jpmorgan Chase holds 0% or 305,499 shares. Riverhead Cap Mgmt Limited invested in 0.01% or 11,273 shares. Envestnet Asset Mngmt holds 325 shares. Lpl Financial Ltd Com reported 10,882 shares. New Jersey Better Educational Savings Tru holds 0.32% of its portfolio in Tenet Healthcare Corporation (NYSE:THC) for 21,000 shares. Tekla Management Ltd Limited Liability Company invested 0.1% of its portfolio in Tenet Healthcare Corporation (NYSE:THC). New York State Common Retirement Fund reported 87,000 shares or 0% of all its holdings. 746,724 are held by Hbk Investments Limited Partnership. Invesco stated it has 1.03 million shares or 0.01% of all its holdings. Laurion Mngmt Lp has invested 0% in Tenet Healthcare Corporation (NYSE:THC). Arizona State Retirement reported 0.01% of its portfolio in Tenet Healthcare Corporation (NYSE:THC). Winslow Asset Mgmt reported 0.68% of its portfolio in Tenet Healthcare Corporation (NYSE:THC).

The stock of Tenet Healthcare Corporation (NYSE:THC) hit a new 52-week high and has $34.69 target or 4.00 % above today’s $33.36 share price. The 8 months bullish chart indicates low risk for the $3.40 billion company. The 1-year high was reported on May, 16 by Barchart.com. If the $34.69 price target is reached, the company will be worth $136.16 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 0.82% or $0.27 during the last trading session, reaching $33.36. About 459,443 shares traded. Tenet Healthcare Corporation (NYSE:THC) has risen 28.80% since May 16, 2017 and is uptrending. It has outperformed by 17.25% the S&P500.

Analysts await Tenet Healthcare Corporation (NYSE:THC) to report earnings on August, 6. They expect $0.22 earnings per share, up 229.41 % or $0.39 from last year’s $-0.17 per share. THC’s profit will be $22.45 million for 37.91 P/E if the $0.22 EPS becomes a reality. After $0.57 actual earnings per share reported by Tenet Healthcare Corporation for the previous quarter, Wall Street now forecasts -61.40 % negative EPS growth.

Tenet Healthcare Corporation (NYSE:THC) Ratings Coverage

Among 13 analysts covering Tenet Healthcare (NYSE:THC), 5 have Buy rating, 3 Sell and 5 Hold. Therefore 38% are positive. Tenet Healthcare has $4000 highest and $15.0 lowest target. $26.27’s average target is -21.25% below currents $33.36 stock price. Tenet Healthcare had 23 analyst reports since December 12, 2017 according to SRatingsIntel. Morgan Stanley downgraded Tenet Healthcare Corporation (NYSE:THC) on Wednesday, December 20 to “Underweight” rating. As per Friday, May 4, the company rating was maintained by Credit Suisse. The stock of Tenet Healthcare Corporation (NYSE:THC) has “Buy” rating given on Thursday, March 22 by Mizuho. The stock of Tenet Healthcare Corporation (NYSE:THC) has “Buy” rating given on Wednesday, May 9 by Mizuho. The stock has “Market Perform” rating by Wells Fargo on Wednesday, February 28. The company was maintained on Wednesday, May 2 by Leerink Swann. The stock of Tenet Healthcare Corporation (NYSE:THC) has “Neutral” rating given on Tuesday, December 19 by Mizuho. The firm has “Underweight” rating by Morgan Stanley given on Wednesday, February 28. The firm has “Buy” rating given on Tuesday, February 27 by Jefferies. The firm has “Hold” rating given on Tuesday, April 17 by SunTrust.

More important recent Tenet Healthcare Corporation (NYSE:THC) news were published by: Fool.com which released: “Why Nutrisystem, Tenet Healthcare, and AbbVie Jumped Today” on May 01, 2018, also Seekingalpha.com published article titled: “Tenet Healthcare: Buy The Turnaround”, Streetinsider.com published: “Glenview Capital Enters AmerisourceBergen (ABC), Express Scripts (ESRX), T-Mobile (TMUS) (more…) -13F” on May 15, 2018. More interesting news about Tenet Healthcare Corporation (NYSE:THC) was released by: Investorplace.com and their article: “5 Top-Ranked Stocks Leading the Market Rally This Year” with publication date: May 14, 2018.

Tenet Healthcare Corporation, together with its subsidiaries, operates as a diversified healthcare services company. The company has market cap of $3.40 billion. It operates in three divisions: Hospital Operations and Other, Ambulatory Care, and Conifer. It currently has negative earnings. The companyÂ’s general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

Tenet Healthcare Corporation (NYSE:THC) Institutional Positions Chart

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