Goldman Sachs Group initiated coverage on shares of Tenet Healthcare (NYSE:THC) in a report released on Wednesday, January 3rd, Marketbeat reports. The firm issued a neutral rating and a $15.00 target price on the stock.
Several other equities analysts also recently commented on the stock. ValuEngine downgraded shares of Tenet Healthcare from a hold rating to a sell rating in a report on Sunday, December 31st. Leerink Swann reissued a buy rating and issued a $27.00 target price on shares of Tenet Healthcare in a report on Wednesday, December 20th. Morgan Stanley cut shares of Tenet Healthcare from an equal weight rating to an underweight rating and set a $14.00 target price for the company. in a report on Wednesday, December 20th. Mizuho raised their price objective on shares of Tenet Healthcare from $13.00 to $15.00 and gave the company a neutral rating in a report on Tuesday, December 19th. Finally, JPMorgan Chase & Co. lowered shares of Tenet Healthcare from a neutral rating to an underweight rating and set a $15.00 price objective for the company. in a report on Thursday, December 14th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $18.50.
Shares of Tenet Healthcare (THC) traded up $0.66 during midday trading on Wednesday, reaching $15.43. 1,868,600 shares of the company were exchanged, compared to its average volume of 1,906,563. The company has a debt-to-equity ratio of 21.21, a quick ratio of 1.21 and a current ratio of 1.28. Tenet Healthcare has a 52-week low of $12.25 and a 52-week high of $22.72. The firm has a market capitalization of $1,560.00, a PE ratio of -2.81, a P/E/G ratio of 2.13 and a beta of 1.17.
Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Monday, November 6th. The company reported ($0.17) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.23. Tenet Healthcare had a negative net margin of 2.85% and a negative return on equity of 5.61%. The business had revenue of $4.59 billion for the quarter, compared to analyst estimates of $4.94 billion. During the same quarter in the previous year, the firm posted $0.16 earnings per share. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. analysts forecast that Tenet Healthcare will post 0.69 EPS for the current year.
Hedge funds have recently bought and sold shares of the business. Riverhead Capital Management LLC grew its holdings in shares of 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 purchasing an additional 3,161 shares in the last quarter. Flinton Capital Management LLC lifted its position in Tenet Healthcare by 65.7% in the 2nd quarter. Flinton Capital Management LLC now owns 7,888 shares of the company’s stock worth $153,000 after buying an additional 3,128 shares during the last quarter. Pentwater Capital Management LP bought a new stake in Tenet Healthcare in the 3rd quarter worth approximately $164,000. Russell Investments Group Ltd. lifted its position in Tenet Healthcare by 182.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 10,525 shares of the company’s stock worth $173,000 after buying an additional 6,800 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Tenet Healthcare in the 3rd quarter worth approximately $183,000.
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About Tenet Healthcare
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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