Tenet Healthcare Corporation (NYSE:THC) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday, August 5th.
Several other brokerages have also commented on THC. Jefferies Group LLC reissued a “buy” rating and issued a $28.00 price target on shares of Tenet Healthcare Corporation in a report on Thursday, April 13th. Mizuho reissued a “neutral” rating and issued a $18.00 price target on shares of Tenet Healthcare Corporation in a report on Sunday, April 23rd. Zacks Investment Research raised shares of Tenet Healthcare Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, May 3rd. Credit Suisse Group upped their target price on shares of Tenet Healthcare Corporation from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, May 5th. Finally, ValuEngine lowered shares of Tenet Healthcare Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Tenet Healthcare Corporation has an average rating of “Hold” and a consensus price target of $22.67.
Shares of Tenet Healthcare Corporation (THC) traded up 14.23% during trading on Friday, reaching $14.45. 12,079,290 shares of the company traded hands. The firm’s 50 day moving average is $17.36 and its 200-day moving average is $17.86. The stock’s market capitalization is $1.46 billion. Tenet Healthcare Corporation has a 12-month low of $12.54 and a 12-month high of $24.96.
Tenet Healthcare Corporation (NYSE:THC) last posted its earnings results on Monday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.17). Tenet Healthcare Corporation had a negative net margin of 0.97% and a negative return on equity of 2.00%. The firm had revenue of $14.80 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the previous year, the business posted $0.38 EPS. The business’s revenue was up 204.1% compared to the same quarter last year. On average, equities research analysts anticipate that Tenet Healthcare Corporation will post $0.82 earnings per share for the current fiscal year.
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Institutional investors have recently made changes to their positions in the company. North Tide Capital LLC acquired a new position in shares of Tenet Healthcare Corporation during the first quarter worth about $35,420,000. Norges Bank acquired a new position in shares of Tenet Healthcare Corporation during the fourth quarter worth about $18,545,000. Ameriprise Financial Inc. raised its position in shares of Tenet Healthcare Corporation by 302.9% in the first quarter. Ameriprise Financial Inc. now owns 1,429,821 shares of the company’s stock worth $25,321,000 after buying an additional 1,074,960 shares during the period. FMR LLC raised its position in shares of Tenet Healthcare Corporation by 36.9% in the second quarter. FMR LLC now owns 3,724,713 shares of the company’s stock worth $72,036,000 after buying an additional 1,004,700 shares during the period. Finally, King Street Capital Management L.P. acquired a new position in shares of Tenet Healthcare Corporation during the first quarter worth about $17,710,000.
About Tenet Healthcare Corporation
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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