Tenet Healthcare Corporation’s (THC) Hold Rating Reiterated at Citigroup Inc.
Tenet Healthcare Corporation (NYSE:THC)‘s stock had its “hold” rating reaffirmed by stock analysts at Citigroup Inc. in a research note issued on Thursday. They currently have a $16.00 price target on the stock. Citigroup Inc.’s price target points to a potential downside of 1.48% from the company’s previous close.
A number of other research firms have also recently issued reports on THC. Jefferies Group LLC restated a “buy” rating and set a $24.00 price target (down from $26.00) on shares of Tenet Healthcare Corporation in a report on Tuesday, August 8th. Credit Suisse Group reduced their target price on shares of Tenet Healthcare Corporation from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, August 9th. Deutsche Bank AG reiterated a “buy” rating and issued a $24.00 target price (down previously from $28.00) on shares of Tenet Healthcare Corporation in a research note on Thursday, August 10th. Leerink Swann reiterated an “outperform” rating and issued a $30.00 target price (up previously from $23.00) on shares of Tenet Healthcare Corporation in a research note on Sunday, August 20th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $23.00 target price on shares of Tenet Healthcare Corporation in a research note on Thursday, August 10th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $21.43.
Shares of Tenet Healthcare Corporation (NYSE:THC) traded up 6.5031% during mid-day trading on Thursday, reaching $17.2961. The company had a trading volume of 8,419,290 shares. The company’s 50-day moving average price is $16.26 and its 200-day moving average price is $17.58. Tenet Healthcare Corporation has a 52-week low of $12.54 and a 52-week high of $24.13. The company’s market capitalization is $1.74 billion.
Tenet Healthcare Corporation (NYSE:THC) last released its quarterly earnings results on Monday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, meeting the Zacks’ 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 company had revenue of $14.80 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the prior year, the company earned $0.38 earnings per share. The business’s quarterly revenue was up 204.1% compared to the same quarter last year. On average, analysts forecast that Tenet Healthcare Corporation will post $0.82 earnings per share for the current fiscal year.
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Several institutional investors have recently modified their holdings of the stock. Archford Capital Strategies LLC increased its holdings in shares of Tenet Healthcare Corporation by 135,247.1% in the second quarter. Archford Capital Strategies LLC now owns 23,009 shares of the company’s stock valued at $1,195,000 after purchasing an additional 22,992 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Tenet Healthcare Corporation in the second quarter valued at approximately $267,000. Proxima Capital Management LLC increased its holdings in shares of Tenet Healthcare Corporation by 8.3% in the second quarter. Proxima Capital Management LLC now owns 103,939 shares of the company’s stock valued at $2,010,000 after purchasing an additional 8,000 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Tenet Healthcare Corporation by 29.6% in the second quarter. Ameritas Investment Partners Inc. now owns 31,287 shares of the company’s stock valued at $605,000 after purchasing an additional 7,138 shares in the last quarter. Finally, Alta Fundamental Advisers LLC acquired a new stake in shares of Tenet Healthcare Corporation in the second quarter valued at approximately $4,324,000.
Tenet Healthcare Corporation Company Profile
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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