Tenet Healthcare (NYSE:THC) was downgraded by J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating in a report issued on Thursday, MarketBeat reports. They presently have a $15.00 target price on the stock. J P Morgan Chase & Co’s target price would indicate a potential upside of 6.69% from the company’s previous close.

Several other analysts have also weighed in on the company. Citigroup raised Tenet Healthcare from a “neutral” rating to a “buy” rating in a report on Tuesday. William Blair reissued a “market perform” rating on shares of Tenet Healthcare in a report on Tuesday, November 21st. Royal Bank of Canada lowered their target price on Tenet Healthcare from $19.00 to $17.00 and set a “sector perform” rating on the stock in a report on Monday, November 13th. Mizuho reissued a “hold” rating on shares of Tenet Healthcare in a report on Friday, November 10th. Finally, Morgan Stanley lowered their target price on Tenet Healthcare from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, November 9th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $18.73.

Shares of Tenet Healthcare (NYSE THC) traded down $0.76 during mid-day trading on Thursday, reaching $14.06. The company had a trading volume of 2,840,367 shares, compared to its average volume of 3,644,870. Tenet Healthcare has a 52-week low of $12.25 and a 52-week high of $22.72. The company has a current ratio of 1.28, a quick ratio of 1.21 and a debt-to-equity ratio of 21.21.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Monday, November 6th. The company reported ($0.17) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.23. Tenet Healthcare had a negative return on equity of 5.61% and a negative net margin of 2.85%. The firm had revenue of $4.59 billion for the quarter, compared to analyst estimates of $4.94 billion. During the same quarter in the prior year, the company posted $0.16 earnings per share. Tenet Healthcare’s quarterly revenue was down 5.4% on a year-over-year basis. equities analysts predict that Tenet Healthcare will post 0.69 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Riverhead Capital Management LLC lifted its position 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 buying an additional 3,161 shares during the period. Flinton Capital Management LLC lifted its position 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 buying an additional 3,128 shares during the period. Pentwater Capital Management LP purchased a new position in Tenet Healthcare during the third quarter worth about $164,000. Russell Investments Group Ltd. lifted its position 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 buying an additional 6,800 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in Tenet Healthcare during the third quarter worth about $183,000.

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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.

Analyst Recommendations for Tenet Healthcare (NYSE:THC)

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