It Seems Tenet Healthcare Corporation (THC) Will Go Up. Formed A Few Months Double Top Chart Pattern

October 2, 2018 - By Dolores Ford

Tenet Healthcare Corporation (NYSE:THC) Logo

Investors sentiment increased to 1.17 in Q2 2018. Its up 0.30, from 0.87 in 2018Q1. It increased, as 26 investors sold Tenet Healthcare Corporation shares while 69 reduced holdings. 47 funds opened positions while 64 raised stakes. 103.39 million shares or 5.33% less from 109.21 million shares in 2018Q1 were reported.
Northwestern Mutual Wealth Mgmt reported 0% stake. Jpmorgan Chase & holds 0.01% of its portfolio in Tenet Healthcare Corporation (NYSE:THC) for 1.67M shares. Amer Group Inc Inc holds 0.03% or 217,330 shares in its portfolio. Morgan Stanley reported 1.17 million shares or 0.01% of all its holdings. Wells Fargo Mn has 95,617 shares. State Treasurer State Of Michigan has 30,100 shares for 0.01% of their portfolio. Price T Rowe Assoc Md, Maryland-based fund reported 30,495 shares. Royal Comml Bank Of Canada has invested 0% in Tenet Healthcare Corporation (NYSE:THC). West Family Invs Inc has 65,000 shares for 0.54% of their portfolio. Commonwealth Comml Bank Of reported 30,800 shares. Eam Investors Ltd has 0.45% invested in Tenet Healthcare Corporation (NYSE:THC). Aqr Capital Mngmt Ltd reported 317,564 shares. Partner Management Limited Partnership accumulated 62,424 shares. Teacher Retirement System Of Texas holds 0% or 20,509 shares in its portfolio. Tudor Corp Et Al accumulated 0.01% or 8,140 shares.

The chart of Tenet Healthcare Corporation (THC) shows a double top with $30.29 target or 8.00 % above today’s $28.05 share price. The 8 months chart pattern indicates low risk for the $2.87 billion company. It was reported on Oct, 2 by Finviz.com. If the $30.29 price target is reached, the company will be worth $229.76 million more. Double tops are rare but powerful chart patterns.

The stock decreased 1.44% or $0.41 during the last trading session, reaching $28.05. About 1.59 million shares traded or 16.28% up from the average. Tenet Healthcare Corporation (NYSE:THC) has risen 67.46% since October 2, 2017 and is uptrending. It has outperformed by 51.84% the S&P500.

Analysts await Tenet Healthcare Corporation (NYSE:THC) to report earnings on October, 26. They expect $0.10 EPS, up 158.82 % or $0.27 from last year’s $-0.17 per share. THC’s profit will be $10.24M for 70.13 P/E if the $0.10 EPS becomes a reality. After $0.49 actual EPS reported by Tenet Healthcare Corporation for the previous quarter, Wall Street now forecasts -79.59 % negative EPS growth.

Tenet Healthcare Corporation (NYSE:THC) Ratings Coverage

Among 9 analysts covering Tenet Healthcare (NYSE:THC), 3 have Buy rating, 2 Sell and 4 Hold. Therefore 33% are positive. Tenet Healthcare had 10 analyst reports since April 17, 2018 according to SRatingsIntel. The firm earned “Buy” rating on Wednesday, May 2 by Leerink Swann. The firm has “Hold” rating given on Friday, June 29 by Jefferies. The firm has “Hold” rating given on Tuesday, April 17 by SunTrust. The firm earned “Buy” rating on Monday, July 23 by Citigroup. The firm earned “Buy” rating on Wednesday, May 9 by Mizuho. The firm earned “Underweight” rating on Wednesday, May 2 by Morgan Stanley. The company was maintained on Tuesday, May 8 by Citigroup. JP Morgan maintained Tenet Healthcare Corporation (NYSE:THC) on Friday, August 10 with “Underweight” rating. The firm earned “Neutral” rating on Friday, May 4 by Credit Suisse.

More recent Tenet Healthcare Corporation (NYSE:THC) news were published by: Bizjournals.com which released: “Tower Health forms joint venture to acquire, develop ambulatory care centers” on September 27, 2018. Also Seekingalpha.com published the news titled: “Stocks To Watch: Strap In For Q3” on September 29, 2018. Seekingalpha.com‘s news article titled: “Tracking Larry Robbins’ Glenview Capital Management Portfolio – Q2 2018 Update” with publication date: September 03, 2018 was also an interesting one.

Tenet Healthcare Corporation, together with its subsidiaries, operates as a diversified healthcare services company. The company has market cap of $2.87 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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