Tenet Healthcare Corp (NYSE:THC) has been given an average recommendation of “Hold” by the eighteen brokerages that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $18.92.
THC has been the topic of several recent analyst reports. Jefferies Group reaffirmed a “buy” rating and set a $24.00 target price on shares of Tenet Healthcare in a research report on Thursday, September 21st. Robert W. Baird reaffirmed a “buy” rating and set a $23.00 target price on shares of Tenet Healthcare in a research report on Thursday, September 28th. Citigroup raised Tenet Healthcare from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 12th. Leerink Swann reaffirmed a “buy” rating and set a $27.00 target price on shares of Tenet Healthcare in a research report on Wednesday, December 20th. Finally, Morgan Stanley reduced their target price on Tenet Healthcare from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 9th.
Shares of Tenet Healthcare (NYSE:THC) traded up $0.08 during trading hours on Monday, reaching $15.44. The company had a trading volume of 1,610,207 shares, compared to its average volume of 2,870,000. Tenet Healthcare has a 12 month low of $12.25 and a 12 month high of $22.72. The firm has a market cap of $1,560.00, a price-to-earnings ratio of -2.81, a P/E/G ratio of 2.12 and a beta of 1.17. The company has a quick ratio of 1.21, a current ratio of 1.28 and a debt-to-equity ratio of 21.21.
Tenet Healthcare (NYSE:THC) last announced its earnings results on Monday, November 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.23. Tenet Healthcare had a negative return on equity of 5.61% and a negative net margin of 2.85%. The company had revenue of $4.59 billion for the quarter, compared to analyst estimates of $4.94 billion. During the same period in the prior year, the company posted $0.16 EPS. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. equities analysts predict that Tenet Healthcare will post 0.69 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. Riverhead Capital Management LLC grew its holdings in Tenet Healthcare by 67.3% during the second quarter. Riverhead Capital Management LLC now owns 7,861 shares of the company’s stock worth $152,000 after acquiring an additional 3,161 shares during the period. Flinton Capital Management LLC grew its holdings in Tenet Healthcare by 65.7% during the second quarter. Flinton Capital Management LLC now owns 7,888 shares of the company’s stock worth $153,000 after acquiring an additional 3,128 shares during the period. Pentwater Capital Management LP acquired a new stake in Tenet Healthcare during the third quarter worth about $164,000. Russell Investments Group Ltd. grew its holdings in Tenet Healthcare by 182.6% during the third quarter. Russell Investments Group Ltd. now owns 10,525 shares of the company’s stock worth $173,000 after acquiring an additional 6,800 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in Tenet Healthcare during the third quarter worth about $183,000.
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Tenet Healthcare Company Profile
Tenet Healthcare Corporation (Tenet) is a healthcare services company. The Company operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets in the United States. The Company’s segments include Hospital Operations and Other, Ambulatory Care and Conifer. As of December 31, 2016, its subsidiaries operated 79 hospitals, including three academic medical centers, two children’s hospitals, two specialty hospitals and one critical access hospital.
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