Stephens Initiates Coverage on Tenet Healthcare (THC)

Stock analysts at Stephens began coverage on shares of Tenet Healthcare (NYSE:THC) in a research report issued on Monday, The Fly reports. The brokerage set an “equal weight” rating on the stock.

Several other research analysts also recently weighed in on the stock. Robert W. Baird downgraded shares of Tenet Healthcare from an “outperform” rating to a “neutral” rating in a research report on Monday, December 17th. Zacks Investment Research downgraded shares of Tenet Healthcare from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. ValuEngine downgraded shares of Tenet Healthcare from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. Barclays reiterated a “hold” rating and issued a $27.00 price target on shares of Tenet Healthcare in a research report on Wednesday, November 7th. Finally, Raymond James reiterated a “buy” rating and issued a $37.00 price target on shares of Tenet Healthcare in a research report on Monday, December 3rd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $31.44.

Shares of Tenet Healthcare stock opened at $21.69 on Monday. The company has a market cap of $2.15 billion, a P/E ratio of 26.78, a P/E/G ratio of 0.58 and a beta of 1.34. Tenet Healthcare has a twelve month low of $15.40 and a twelve month high of $39.74. The company has a debt-to-equity ratio of 21.55, a quick ratio of 0.99 and a current ratio of 1.06.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Monday, November 5th. The company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.18. Tenet Healthcare had a negative net margin of 0.61% and a positive return on equity of 47.38%. The business had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same period last year, the firm earned ($0.17) earnings per share. The company’s quarterly revenue was down 2.1% on a year-over-year basis. On average, research analysts anticipate that Tenet Healthcare will post 1.61 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in THC. Vanguard Group Inc. raised its position in shares of Tenet Healthcare by 9.4% during the 3rd quarter. Vanguard Group Inc. now owns 11,496,136 shares of the company’s stock valued at $327,180,000 after purchasing an additional 990,373 shares during the period. Vanguard Group Inc raised its position in shares of Tenet Healthcare by 9.4% during the 3rd quarter. Vanguard Group Inc now owns 11,496,136 shares of the company’s stock valued at $327,180,000 after purchasing an additional 990,373 shares during the period. Morgan Stanley raised its position in shares of Tenet Healthcare by 165.3% during the 2nd quarter. Morgan Stanley now owns 1,167,972 shares of the company’s stock valued at $39,208,000 after purchasing an additional 727,713 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Tenet Healthcare during the 3rd quarter valued at $16,949,000. Finally, Deutsche Bank AG raised its position in shares of Tenet Healthcare by 113.1% during the 3rd quarter. Deutsche Bank AG now owns 763,101 shares of the company’s stock valued at $21,716,000 after purchasing an additional 404,966 shares during the period.

About Tenet Healthcare

Tenet Healthcare Corporation operates as a diversified healthcare services company. It operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The company's general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

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