Tenet Healthcare (THC) is Downgraded by Wells Fargo to Market Perform , according to the research report released to the investors. Earlier the firm had a rating of Outperform on the company shares. The shares recommendation by the Brokerage Firm was released on Jan-4-2016.
Tenet Healthcare Corp. has dropped 16.74% during the last 3-month period . Year-to-Date the stock performance stands at -40.2%.The company shares have dropped -39.69% from its 1 Year high price. On Jul 14, 2015, the shares registered one year high at $60.93 and the one year low was seen on Dec 16, 2015. The 50-Day Moving Average price is $31.46 and the 200 Day Moving Average price is recorded at $43.30.
Tenet Healthcare Corporation (NYSE:THC) has lost 6.1% during the past week and dropped 8.76% in the last 4 weeks. The shares are however, negative as compared to the S&P 500 for the past week with a loss of 5.32%. Tenet Healthcare Corporation (NYSE:THC) has underperformed the index by 6.63% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Tenet Healthcare Corporation (NYSE:THC) : On Thursday heightened volatility was witnessed in Tenet Healthcare Corporation (NYSE:THC) which led to swings in the share price. The shares opened for trading at $30.03 and hit $30.66 on the upside , eventually ending the session at $30.3, with a gain of 0.07% or 0.02 points. The heightened volatility saw the trading volume jump to 1,881,909 shares. The 52-week high of the share price is $60.93 and the company has a market cap of $3,020 million. The 52-week low of the share price is at $26.6 .
Currently the company Insiders own 3% of Tenet Healthcare Corporation shares according to the proxy statements. Institutional Investors own 98.29% of Tenet Healthcare Corporation shares. During last six month period, the net percent change held by insiders has seen a change of -7.12%. On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, The Securities and Exchange Commission has divulged that Fetter Trevor, director officer (Chairman and CEO) of Tenet Healthcare Corp, had unloaded 83,443 shares at an average price of $60.02 in a transaction dated on July 6, 2015. The total value of the transaction was worth $5,008,249.
Tenet Healthcare Corporation (Tenet) along with its subsidiaries, is an investor-owned health care services company. Tenet operates 77 acute care hospitals, 173 outpatient centers, five health plans and six accountable care organizations. As of October 7, 2013, the Companys new hospital was under construction in New Braunfels, Texas. In addition, the Company includes Conifer Health Solutions, which provides health business process solutions at 15 service centers serving 600 clients across 43 states. The Company operates in two segments: hospital operations and other, and Conifer. In May 2012, the Company sold Diagnostic Imaging Services, Inc., its former diagnostic imaging center business in Louisiana. In August 2012, it sold its Creighton University Medical Center in Nebraska. In June 2014, it acquired a majority interest in Texas Regional Medical Center at Sunnyvale, a 70-bed hospital in Sunnyvale, Texas. In August 2014, the Companys subsidiary acquired Emanuel Medical Center.