Tenet Healthcare Corporation (THC) Research Coverage Started at Credit Suisse Group AG
Credit Suisse Group AG assumed coverage on shares of Tenet Healthcare Corporation (NYSE:THC) in a research report issued on Thursday. The brokerage set a “neutral” rating and a $15.00 price target on the stock. Credit Suisse Group AG’s price target would indicate a potential upside of 5.04% from the company’s current price.
Several other equities analysts also recently weighed in on the company. Deutsche Bank AG reaffirmed a “buy” rating and issued a $24.00 target price on shares of Tenet Healthcare Corporation in a research report on Friday, September 1st. Zacks Investment Research raised Tenet Healthcare Corporation from a “hold” rating to a “strong-buy” rating and set a $21.00 target price for the company in a research report on Monday, July 10th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $25.00 target price on shares of Tenet Healthcare Corporation in a research report on Tuesday, July 18th. Robert W. Baird reaffirmed a “buy” rating and issued a $23.00 target price on shares of Tenet Healthcare Corporation in a research report on Thursday, August 24th. Finally, Leerink Swann reaffirmed an “outperform” rating and issued a $30.00 target price (up from $23.00) on shares of Tenet Healthcare Corporation in a research report on Sunday, August 20th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $20.20.
Tenet Healthcare Corporation (NYSE:THC) last released its earnings results on Monday, August 7th. The company reported ($0.17) earnings per share for the quarter, meeting the consensus estimate of ($0.17). The company had revenue of $14.80 billion during the quarter, compared to the consensus estimate of $4.90 billion. Tenet Healthcare Corporation had a negative return on equity of 5.11% and a negative net margin of 2.85%. Tenet Healthcare Corporation’s revenue was up 204.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 EPS.
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A number of hedge funds have recently bought and sold shares of the stock. Harris Associates L P lifted its stake in Tenet Healthcare Corporation by 1.4% during the second quarter. Harris Associates L P now owns 7,733,435 shares of the company’s stock worth $149,565,000 after purchasing an additional 108,070 shares during the last quarter. Vanguard Group Inc. lifted its stake in Tenet Healthcare Corporation by 6.2% during the second quarter. Vanguard Group Inc. now owns 6,995,269 shares of the company’s stock worth $135,289,000 after purchasing an additional 407,910 shares during the last quarter. Franklin Resources Inc. lifted its stake in Tenet Healthcare Corporation by 25.0% during the second quarter. Franklin Resources Inc. now owns 5,000,000 shares of the company’s stock worth $96,700,000 after purchasing an additional 1,000,000 shares during the last quarter. FMR LLC lifted its stake in Tenet Healthcare Corporation by 36.9% during the second quarter. FMR LLC now owns 3,724,713 shares of the company’s stock worth $72,036,000 after purchasing an additional 1,004,700 shares during the last quarter. Finally, State Street Corp lifted its stake in Tenet Healthcare Corporation by 25.4% during the second quarter. State Street Corp now owns 2,926,533 shares of the company’s stock worth $56,603,000 after purchasing an additional 593,520 shares during the last quarter.
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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