Why Tenet Healthcare Shares Are Rallying 14.2% Today
After a sell-off that's seen its shares drop from over $20 in July to below $13 earlier this month, news that a hedge fund has acquired a 5.7% stake sent shares of Tenet Healthcare (NYSE: THC) soaring 14.2% at 2:00 p.m. EDT today.
On Aug. 7, Tenet Healthcare reported second-quarter financial results that were anything but encouraging. In the quarter, the company's net revenue declined 1.4% to $4.8 billion, and its net loss expanded 19.6%, to $55 million, or $0.55 per share. On an adjusted basis, the company's net loss per share was $0.17. These figures were worse than investors were looking for, and shares were punished as a result.
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Source: Fool.com
Tenet Healthcare Stock
€140.00
-1.440%
With 40 Buy predictions and not a single Sell prediction Tenet Healthcare is an absolute favorite of our community.
With a current price of 140.0 € Tenet Healthcare is right around the predicted target price of 141 €.
