Tenet Healthcare Corp (THC) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Tenet Healthcare Corp (NYSE:THC) have earned an average rating of “Hold” from the sixteen brokerages that are presently covering the company. Two equities research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $25.18.
A number of equities research analysts recently issued reports on THC shares. Jefferies Group LLC reiterated a “buy” rating and set a $26.00 target price (down previously from $28.00) on shares of Tenet Healthcare Corp in a research report on Saturday, April 29th. Credit Suisse Group AG increased their target price on shares of Tenet Healthcare Corp from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday. Royal Bank of Canada reiterated a “hold” rating and set a $25.00 target price on shares of Tenet Healthcare Corp in a research report on Friday, March 3rd. Mizuho upgraded shares of Tenet Healthcare Corp from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $13.00 to $22.80 in a research report on Friday, February 24th. Finally, Citigroup Inc dropped their target price on shares of Tenet Healthcare Corp from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, March 6th.
A number of large investors have recently bought and sold shares of THC. Guggenheim Capital LLC boosted its stake in Tenet Healthcare Corp by 57.4% in the fourth quarter. Guggenheim Capital LLC now owns 137,431 shares of the company’s stock valued at $2,040,000 after buying an additional 50,135 shares during the last quarter. Three Peaks Capital Management LLC bought a new stake in Tenet Healthcare Corp during the third quarter valued at $5,117,000. Rudman Errol M boosted its stake in Tenet Healthcare Corp by 1,602.5% in the fourth quarter. Rudman Errol M now owns 200,900 shares of the company’s stock valued at $2,981,000 after buying an additional 189,100 shares during the last quarter. LMR Partners LLP boosted its stake in Tenet Healthcare Corp by 64.6% in the third quarter. LMR Partners LLP now owns 34,258 shares of the company’s stock valued at $777,000 after buying an additional 13,450 shares during the last quarter. Finally, Clinton Group Inc. boosted its stake in Tenet Healthcare Corp by 29.6% in the third quarter. Clinton Group Inc. now owns 196,015 shares of the company’s stock valued at $4,442,000 after buying an additional 44,794 shares during the last quarter.
Shares of Tenet Healthcare Corp (NYSE:THC) traded up 3.95% during midday trading on Friday, hitting $17.65. 246,982 shares of the company were exchanged. Tenet Healthcare Corp has a one year low of $14.06 and a one year high of $31.84. The stock’s market cap is $1.77 billion. The stock’s 50-day moving average is $16.98 and its 200-day moving average is $17.36.
Tenet Healthcare Corp (NYSE:THC) last released its quarterly earnings data on Monday, May 1st. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.25. The company had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.84 billion. Tenet Healthcare Corp had a negative net margin of 1.04% and a positive return on equity of 12.75%. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period last year, the firm earned $0.45 EPS. Equities research analysts anticipate that Tenet Healthcare Corp will post $1.19 EPS for the current year.
About Tenet Healthcare Corp
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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