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.
IMAGE SOURCE: GETTY IMAGES.
Source: Fool.com
Tenet Healthcare Stock
€228.00
-
The stock is an absolute favorite of our community with 44 Buy predictions and no Sell predictions.
However, we have a potential of -2.63% for Tenet Healthcare as the target price of 222 € is below the current price of 228.0 €.
