Tenet Healthcare Corp (THC) was Downgraded by Mizuho to ” Underperform” and the brokerage firm has set the Price Target at $13. Earlier the firm had a rating of “Neutral ” on the company shares. Mizuho advised their investors in a research report released on Nov 22, 2016.
Many Wall Street Analysts have commented on Tenet Healthcare Corp. Tenet Healthcare Corp was Downgraded by Raymond James to ” Mkt Perform” on Nov 10, 2016. Tenet Healthcare Corp was Downgraded by BofA/Merrill to ” Neutral” on Nov 9, 2016. Shares were Reiterated by Mizuho on Oct 5, 2016 to “Neutral” and Lowered the Price Target to $ 22 from a previous price target of $28 .
On the company’s financial health, Tenet Healthcare Corp reported $0.16 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Oct 31, 2016. Analyst had a consensus of $0.17. The company had revenue of $4849.00 million for the quarter, compared to analysts expectations of $4782.31 million. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS.
Tenet Healthcare Corp closed down -0.37 points or -2.15% at $16.87 with 37,43,912 shares getting traded on Monday. Post opening the session at $17.36, the shares hit an intraday low of $16.79 and an intraday high of $17.66 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Nov 10, 2016, Peter M Wilver (director) purchased 5,000 shares at $15.19 per share price. According to the SEC, on Jul 15, 2015, Trevor Fetter (Chairman and CEO) sold 184,481 shares at $60.25 per share price. On Jun 5, 2015, R. Scott Ramsey (Principal Accounting Officer) sold 5,650 shares at $51.64 per share price, according to the Form-4 filing with the securities and exchange commission.
Tenet Healthcare Corporation is a healthcare services company. The Company operates regionally focused integrated healthcare delivery networks in large urban and suburban markets. As of December 31 2014 it operated 80 hospitals 210 outpatient centers six health plans and Conifer Health Solutions LLC (Conifer) which provides healthcare business process services in the areas of revenue cycle management value-based care and patient communications. It provides operational management for revenue cycle functions including patient access health information management revenue integrity and patient financial services. It also offers communications and engagement solutions to optimize the relationship between providers and patients. Conifer operates a management services business that supports value-based performance through clinical integration financial risk management and population health management. It has two operating segments: Hospital Operations and other and Conifer.