Tenet Healthcare (NYSE:THC) Now Covered by Goldman Sachs Group

Equities researchers at Goldman Sachs Group initiated coverage on shares of Tenet Healthcare (NYSE:THC) in a report released on Wednesday, The Fly reports. The brokerage set a “neutral” rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. SunTrust Banks set a $24.00 price target on shares of Tenet Healthcare and gave the stock a “hold” rating in a research report on Wednesday, August 7th. TheStreet cut shares of Tenet Healthcare from a “c” rating to a “d+” rating in a research report on Monday, May 13th. Royal Bank of Canada restated a “hold” rating and issued a $26.00 price target on shares of Tenet Healthcare in a research report on Sunday. ValuEngine cut shares of Tenet Healthcare from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 1st. Finally, Barclays set a $24.00 price target on shares of Tenet Healthcare and gave the stock a “hold” rating in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $28.67.

NYSE THC opened at $21.20 on Wednesday. Tenet Healthcare has a 12 month low of $16.60 and a 12 month high of $34.23. The company has a market cap of $2.20 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 0.58 and a beta of 1.65. The business’s 50 day moving average price is $20.32. The company has a debt-to-equity ratio of 19.96, a quick ratio of 1.06 and a current ratio of 1.13.

Tenet Healthcare (NYSE:THC) last released its earnings results on Monday, August 5th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.12. The company had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Tenet Healthcare had a negative net margin of 0.09% and a positive return on equity of 28.95%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.49 EPS. Sell-side analysts predict that Tenet Healthcare will post 2.37 earnings per share for the current fiscal year.

In related news, major shareholder Glenview Capital Management, L bought 200,000 shares of the stock in a transaction dated Wednesday, July 24th. The stock was purchased at an average cost of $19.36 per share, with a total value of $3,872,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of THC. Retirement Systems of Alabama raised its holdings in shares of Tenet Healthcare by 0.6% in the first quarter. Retirement Systems of Alabama now owns 108,254 shares of the company’s stock valued at $3,122,000 after acquiring an additional 611 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Tenet Healthcare by 101.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,351 shares of the company’s stock valued at $38,000 after acquiring an additional 682 shares in the last quarter. Mason Street Advisors LLC raised its holdings in shares of Tenet Healthcare by 1.7% in the first quarter. Mason Street Advisors LLC now owns 44,222 shares of the company’s stock valued at $1,275,000 after acquiring an additional 734 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Tenet Healthcare by 1.5% in the second quarter. Arizona State Retirement System now owns 60,630 shares of the company’s stock valued at $1,253,000 after acquiring an additional 916 shares in the last quarter. Finally, Investors Research Corp raised its holdings in shares of Tenet Healthcare by 4.0% in the second quarter. Investors Research Corp now owns 31,475 shares of the company’s stock valued at $650,000 after acquiring an additional 1,200 shares in the last quarter. 99.56% of the stock is owned by hedge funds and other institutional investors.

About Tenet Healthcare

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

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Analyst Recommendations for Tenet Healthcare (NYSE:THC)

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