Tenet Healthcare (NYSE:THC) was upgraded by investment analysts at Citigroup from a “neutral” rating to a “buy” rating in a report issued on Tuesday, Marketbeat Ratings reports.

Several other equities analysts have also weighed in on THC. Royal Bank of Canada reaffirmed a “hold” rating and set a $19.00 target price on shares of Tenet Healthcare in a report on Monday, September 25th. SunTrust Banks set a $15.00 target price on shares of Tenet Healthcare and gave the company a “hold” rating in a report on Sunday, October 15th. Mizuho reaffirmed a “neutral” rating and set a $14.00 target price on shares of Tenet Healthcare in a report on Sunday, August 20th. Robert W. Baird reaffirmed a “buy” rating and set a $23.00 target price on shares of Tenet Healthcare in a report on Thursday, September 28th. Finally, Credit Suisse Group assumed coverage on shares of Tenet Healthcare in a report on Thursday, November 2nd. They set a “neutral” rating and a $15.00 target price for the company. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. Tenet Healthcare has a consensus rating of “Hold” and an average target price of $18.73.

Tenet Healthcare (THC) traded up $0.29 during trading hours on Tuesday, hitting $14.34. 2,630,000 shares of the stock traded hands, compared to its average volume of 3,490,000. The company has a quick ratio of 1.21, a current ratio of 1.28 and a debt-to-equity ratio of 21.21. Tenet Healthcare has a 52-week low of $12.25 and a 52-week high of $22.72.

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

Hedge funds and other institutional investors have recently modified their holdings of the stock. King Street Capital Management L.P. acquired a new stake in Tenet Healthcare during the 3rd quarter worth $31,217,000. Davidson Kempner Capital Management LP acquired a new stake in Tenet Healthcare during the 2nd quarter worth $20,133,000. FMR LLC boosted its stake in Tenet Healthcare by 36.9% during the 2nd 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. Franklin Resources Inc. boosted its stake in Tenet Healthcare by 25.0% during the 2nd 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. Finally, First Eagle Investment Management LLC acquired a new stake in Tenet Healthcare during the 2nd quarter worth $15,059,000.

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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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