Tenet Healthcare Corp. (THC) saw a big move last session, as the company’s shares fell more than 9% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading below the volatile price range of $44.07 to $48.33 in the past one-month time frame.
The company has seen a flat track record when it comes to current year estimate revisions over the past few weeks. The consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
THC currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the medical sector include ABIOMED, Inc. (ABMD), Actavis plc (ACT) and Aetna Inc. (AET). All these stocks carry a Zacks Rank #2 (Buy).
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