An issue of Tenet Healthcare Corp (NYSE:THC) bonds rose 2.8% as a percentage of their face value during trading on Friday. The debt issue has a 6.75% coupon and is set to mature on June 15, 2023. The debt is now trading at $98.00 and was trading at $96.88 one week ago. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its share price.
Several research analysts have commented on THC shares. Deutsche Bank AG initiated coverage on Tenet Healthcare Corp in a research report on Tuesday, April 4th. They issued a “buy” rating and a $28.00 price objective on the stock. Zacks Investment Research downgraded Tenet Healthcare Corp from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 9th. Mizuho cut their target price on shares of Tenet Healthcare Corp from $22.50 to $18.00 and set a “neutral” rating on the stock in a report on Monday, March 27th. Leerink Swann reissued a “market perform” rating and issued a $22.00 target price on shares of Tenet Healthcare Corp in a report on Tuesday, January 24th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $28.00 price target on shares of Tenet Healthcare Corp in a report on Thursday, April 13th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $26.92.
Tenet Healthcare Corp (NYSE:THC) traded up 2.40% during midday trading on Friday, hitting $15.35. 5,431,703 shares of the company traded hands. The stock’s 50-day moving average is $17.75 and its 200-day moving average is $18.06. Tenet Healthcare Corp has a 12-month low of $14.06 and a 12-month high of $34.08. The firm’s market capitalization is $1.53 billion.
Several large investors have recently made changes to their positions in THC. Ellington Management Group LLC acquired a new stake in Tenet Healthcare Corp during the fourth quarter worth $148,000. WFG Advisors LP increased its position in shares of Tenet Healthcare Corp by 777.4% in the fourth quarter. WFG Advisors LP now owns 13,161 shares of the company’s stock worth $186,000 after buying an additional 11,661 shares during the period. Soros Fund Management LLC purchased a new position in shares of Tenet Healthcare Corp during the fourth quarter worth about $200,000. Thrivent Financial for Lutherans increased its position in Tenet Healthcare Corp by 10.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 13,820 shares of the company’s stock worth $205,000 after buying an additional 1,360 shares during the last quarter. Finally, GSA Capital Partners LLP increased its position in Tenet Healthcare Corp by 25.9% in the fourth quarter. GSA Capital Partners LLP now owns 13,878 shares of the company’s stock worth $206,000 after buying an additional 2,856 shares during the last quarter.
Tenet Healthcare Corp Company Profile
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’s segments include Hospital Operations and Other, Ambulatory Care and Conifer. As of December 31, 2016, its subsidiaries operated 79 hospitals, including three academic medical centers, two children’s hospitals, two specialty hospitals and one critical access hospital.
