Tenet Healthcare Got Some Bad News

By Austin Angelo

In a report released today, Sheryl Skolnick from Mizuho Securities downgraded Tenet Healthcare (NYSE: THC) to Sell. The company’s shares closed yesterday at $17.01, close to its 52-week low of $14.06.

According to TipRanks.com, Skolnick is a 3-star analyst with an average return of 2.3% and a 58.3% success rate. Skolnick covers the Healthcare sector, focusing on stocks such as Kindred Healthcare, Healthsouth Corp., and Community Health.

Tenet Healthcare has an analyst consensus of Hold, with a price target consensus of $29.50.

The company has a one year high of $35.35 and a one year low of $14.06. Currently, Tenet Healthcare has an average volume of 3.14M.

Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of THC in relation to earlier this year. Earlier this month, Ronald Rittenmeyer, a Director at THC bought 15,000 shares for a total of $215,250.

Tenet Healthcare Corp. provides health care services. It operates through the following segments: Hospital Operations and Other, and Conifer. The company through its subsidiaries and affiliates owns and operates acute care hospitals, ambulatory surgery centers, diagnostic imaging centers and related health care facilities. Its business is focused on providing acute care treatment, including inpatient care, intensive care, cardiac care, radiology services and emergency medical treatment, as well as outpatient services. Tenet Healthcare also operates revenue cycle management and patient communications services businesses through its Conifer Health Solutions subsidiary. The company was founded in 1975 and is headquartered in Dallas, TX.