ValuEngine upgraded shares of Tenet Healthcare (NYSE:THC) from a sell rating to a hold rating in a research report sent to investors on Thursday.
Several other research firms have also issued reports on THC. Zacks Investment Research lowered Tenet Healthcare from a buy rating to a hold rating in a research note on Wednesday, October 10th. Barclays assumed coverage on Tenet Healthcare in a research note on Tuesday, August 14th. They set an equal weight rating and a $35.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on Tenet Healthcare from $22.00 to $28.00 and gave the stock an underweight rating in a research note on Friday, August 10th. Mizuho set a $36.00 price objective on Tenet Healthcare and gave the stock a buy rating in a research note on Tuesday, August 7th. Finally, Piper Jaffray Companies reiterated a hold rating and set a $34.00 price objective on shares of Tenet Healthcare in a research note on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $30.80.
THC stock traded up $0.49 during midday trading on Thursday, hitting $27.17. The stock had a trading volume of 1,330,900 shares, compared to its average volume of 1,860,845. The stock has a market cap of $2.60 billion, a P/E ratio of 33.54, a price-to-earnings-growth ratio of 1.14 and a beta of 0.92. Tenet Healthcare has a 52 week low of $12.45 and a 52 week high of $39.74. The company has a debt-to-equity ratio of 24.66, a current ratio of 1.08 and a quick ratio of 1.01.
Tenet Healthcare (NYSE:THC) last issued its earnings results on Monday, August 6th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.25 by $0.24. The firm had revenue of $4.51 billion during the quarter, compared to analysts’ expectations of $4.57 billion. Tenet Healthcare had a positive return on equity of 38.91% and a negative net margin of 2.51%. Tenet Healthcare’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period last year, the business earned ($0.17) earnings per share. Equities research analysts anticipate that Tenet Healthcare will post 1.72 EPS for the current year.
Large investors have recently made changes to their positions in the company. Advisors Preferred LLC acquired a new stake in shares of Tenet Healthcare in the second quarter valued at $163,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Tenet Healthcare in the second quarter valued at $166,000. Assetmark Inc. increased its stake in shares of Tenet Healthcare by 45.8% in the second quarter. Assetmark Inc. now owns 5,093 shares of the company’s stock valued at $171,000 after buying an additional 1,601 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of Tenet Healthcare by 286.0% in the first quarter. Cubist Systematic Strategies LLC now owns 7,700 shares of the company’s stock valued at $187,000 after buying an additional 5,705 shares in the last quarter. Finally, Vident Investment Advisory LLC acquired a new stake in shares of Tenet Healthcare in the second quarter valued at $207,000.
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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