5 Biggest Losers This Week

3. Tenet Healthcare Corporation (NYSE:THC)

Number of Hedge Fund Holders: 61

Shares of Tenet Healthcare Corporation (NYSE:THC) plummeted to a new low this week after the healthcare services company issued a weak financial outlook for the fourth quarter.

Tenet Healthcare Corporation (NYSE:THC) guided for adjusted earnings in the range of $1 – $1.54 per share and revenue between $4.82 – $5.02 billion for the current quarter. The guidance missed the consensus of $1.80 per share for earnings and $5.04 billion for revenue.

The company issued the forecast along with its Q3 results on Thursday, October 20. Tenet Healthcare Corporation (NYSE:THC) reported adjusted earnings of $1.44 per share, down from $1.99 per share in the year-ago period but above Wall Street estimates of $1.24 per share. Revenue for the quarter also decreased to $4.8 billion, from $4.89 billion last year. However, it was almost in line with the consensus forecast.