Tenet Healthcare (NYSE:THC)‘s stock had its “hold” rating reaffirmed by analysts at SunTrust Banks in a report released on Tuesday. They currently have a $27.00 price target on the stock. SunTrust Banks’ price target suggests a potential upside of 12.36% from the stock’s current price.
THC has been the topic of a number of other research reports. ValuEngine cut shares of Tenet Healthcare from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. TheStreet upgraded shares of Tenet Healthcare from a “d+” rating to a “c” rating in a research report on Tuesday, March 13th. Zacks Investment Research cut shares of Tenet Healthcare from a “hold” rating to a “sell” rating in a research report on Saturday, January 20th. Wells Fargo lifted their target price on shares of Tenet Healthcare from $20.00 to $22.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 28th. Finally, Mizuho lifted their target price on shares of Tenet Healthcare from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 19th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. Tenet Healthcare presently has an average rating of “Hold” and a consensus price target of $22.19.
Shares of NYSE:THC opened at $24.03 on Tuesday. The firm has a market capitalization of $2,397.27, a P/E ratio of 29.67, a price-to-earnings-growth ratio of 2.04 and a beta of 0.79. Tenet Healthcare has a 52 week low of $12.25 and a 52 week high of $25.24. The company has a debt-to-equity ratio of 27.44, a quick ratio of 1.22 and a current ratio of 1.29.
Tenet Healthcare (NYSE:THC) last issued its earnings results on Monday, February 26th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.15. The company had revenue of $4.98 billion for the quarter, compared to analysts’ expectations of $4.85 billion. Tenet Healthcare had a negative net margin of 3.67% and a positive return on equity of 9.69%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 EPS. equities analysts forecast that Tenet Healthcare will post 0.92 earnings per share for the current fiscal year.
In other news, Director George Fredrick Smitherman sold 14,300 shares of Tenet Healthcare stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $2.02, for a total transaction of $28,886.00. Also, Director Ashish Dave sold 75,000 shares of Tenet Healthcare stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $1.40, for a total transaction of $105,000.00. In the last three months, insiders sold 128,300 shares of company stock worth $149,096. Insiders own 1.20% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in THC. Dimensional Fund Advisors LP boosted its stake in Tenet Healthcare by 18.2% during the third quarter. Dimensional Fund Advisors LP now owns 2,530,802 shares of the company’s stock worth $41,579,000 after acquiring an additional 389,144 shares in the last quarter. Letko Brosseau & Associates Inc. bought a new stake in Tenet Healthcare during the fourth quarter worth about $30,300,000. Brigade Capital Management LP boosted its stake in Tenet Healthcare by 16.5% during the fourth quarter. Brigade Capital Management LP now owns 1,573,200 shares of the company’s stock worth $23,850,000 after acquiring an additional 223,200 shares in the last quarter. Millennium Management LLC bought a new stake in Tenet Healthcare during the fourth quarter worth about $22,655,000. Finally, California Public Employees Retirement System boosted its stake in Tenet Healthcare by 6.3% during the fourth quarter. California Public Employees Retirement System now owns 965,955 shares of the company’s stock worth $14,644,000 after acquiring an additional 56,838 shares in the last quarter.
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About Tenet Healthcare
Tenet Healthcare Corporation operates as a diversified healthcare services company. It operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The company's general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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