Dive Brief:
- Tenet Healthcare received a fine for improper denial of prescription drug coverage and for "hindering policyholder appeals" in the company's private Medicare plans, reports Law360.
- The issue comes soon after news of Tenet's efforts to settle kickback allegations involving four of its Georgia hospitals, as well as news of its $140 million net loss for the 2015 fourth quarter.
- At the same time, Tenet has recently seen its stock price rise, with a 30-day trend in share price performance that is 0.54% better than the peer median, Street Report says.
Dive Insight:
Despite its recent issues, Tenet may be on the upswing with a high momentum style score that indicates the stock has reached a favorable position, analysts say.
As of Monday, Zacks Research had assigned the stock a rating of 1.87 on a scale of a 1-5, in which a one represents a Strong Buy while a number 5 represents a Strong Sell.
Tenet's share price closed at $27.06 during the last trading session, and based on the consensus opinion of sell-side analysts, the Enterprise Leader reports, the company is projected to move to a price of $41.214. The most bullish estimate for the price is $85 and the most conservative stays at $28.