Tenet Healthcare Corporation (THC) Given Consensus Recommendation of “Hold” by Brokerages
Tenet Healthcare Corporation (NYSE:THC) has been assigned an average rating of “Hold” from the seventeen analysts that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $19.25.
A number of research analysts have recently issued reports on the company. Citigroup reissued a “neutral” rating and issued a $16.00 target price (down previously from $20.00) on shares of Tenet Healthcare in a report on Thursday, August 10th. Credit Suisse Group assumed coverage on Tenet Healthcare in a report on Thursday, November 2nd. They issued a “neutral” rating and a $15.00 target price on the stock. Deutsche Bank reissued a “buy” rating and issued a $24.00 target price (down previously from $28.00) on shares of Tenet Healthcare in a report on Thursday, August 10th. SunTrust Banks set a $15.00 target price on Tenet Healthcare and gave the company a “hold” rating in a report on Sunday, October 15th. Finally, Zacks Investment Research raised Tenet Healthcare from a “sell” rating to a “hold” rating in a report on Thursday, November 9th.
Hedge funds have recently made changes to their positions in the stock. Riverhead Capital Management LLC grew its holdings in Tenet Healthcare by 67.3% during the second quarter. Riverhead Capital Management LLC now owns 7,861 shares of the company’s stock worth $152,000 after acquiring an additional 3,161 shares during the period. Flinton Capital Management LLC grew its holdings in Tenet Healthcare by 65.7% during the second quarter. Flinton Capital Management LLC now owns 7,888 shares of the company’s stock worth $153,000 after acquiring an additional 3,128 shares during the period. Pentwater Capital Management LP acquired a new position in Tenet Healthcare during the third quarter worth $164,000. Russell Investments Group Ltd. grew its holdings in Tenet Healthcare by 182.6% during the third quarter. Russell Investments Group Ltd. now owns 10,525 shares of the company’s stock worth $173,000 after acquiring an additional 6,800 shares during the period. Finally, First Mercantile Trust Co. grew its holdings in Tenet Healthcare by 11.1% during the second quarter. First Mercantile Trust Co. now owns 11,000 shares of the company’s stock worth $213,000 after acquiring an additional 1,100 shares during the period.
Tenet Healthcare (NYSE:THC) last released its earnings results on Monday, November 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.40) by $0.23. The business had revenue of $4.59 billion for the quarter, compared to analyst estimates of $4.94 billion. Tenet Healthcare had a negative return on equity of 5.61% and a negative net margin of 2.85%. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 earnings per share. equities analysts anticipate that Tenet Healthcare will post 0.69 earnings per share for the current year.
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About Tenet Healthcare
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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