Tenet Healthcare Corporation (NYSE:THC) had its price target lowered by equities researchers at Credit Suisse Group from $20.00 to $17.00 in a research report issued on Wednesday. The brokerage presently has a “neutral” rating on the stock. Credit Suisse Group’s price target would indicate a potential upside of 26.96% from the stock’s current price.
Several other research analysts have also commented on THC. Jefferies Group LLC reissued a “buy” rating and issued a $28.00 price target on shares of Tenet Healthcare Corporation in a research report on Thursday, April 13th. Mizuho reissued a “neutral” rating and issued a $18.00 price target on shares of Tenet Healthcare Corporation in a research report on Sunday, April 23rd. Zacks Investment Research raised Tenet Healthcare Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, May 3rd. ValuEngine lowered Tenet Healthcare Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Finally, Wells Fargo & Company raised Tenet Healthcare Corporation from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research report on Tuesday, June 6th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $22.67.
Tenet Healthcare Corporation (THC) traded up 6.35% during trading on Wednesday, reaching $14.24. The company’s stock had a trading volume of 5,425,872 shares. The company’s market capitalization is $1.44 billion. Tenet Healthcare Corporation has a 12-month low of $13.21 and a 12-month high of $25.96. The firm’s 50-day moving average price is $18.34 and its 200 day moving average price is $18.07.
Tenet Healthcare Corporation (NYSE:THC) last released its quarterly earnings results on Monday, August 7th. The company reported ($0.17) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.17). The firm had revenue of $14.80 billion during the quarter, compared to analyst estimates of $4.90 billion. Tenet Healthcare Corporation had a negative return on equity of 2.00% and a negative net margin of 0.97%. The business’s revenue for the quarter was up 204.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 EPS. On average, analysts predict that Tenet Healthcare Corporation will post $0.83 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in THC. Private Management Group Inc. raised its position in shares of Tenet Healthcare Corporation by 0.3% in the first quarter. Private Management Group Inc. now owns 804,532 shares of the company’s stock worth $14,248,000 after buying an additional 2,379 shares in the last quarter. MARSHALL WACE ASIA Ltd purchased a new position in shares of Tenet Healthcare Corporation during the first quarter worth $3,634,000. North Tide Capital LLC purchased a new position in shares of Tenet Healthcare Corporation during the first quarter worth $35,420,000. Bank of Montreal Can raised its position in shares of Tenet Healthcare Corporation by 119.3% in the first quarter. Bank of Montreal Can now owns 12,667 shares of the company’s stock worth $223,000 after buying an additional 6,892 shares in the last quarter. Finally, State Street Corp raised its position in shares of Tenet Healthcare Corporation by 1.2% in the first quarter. State Street Corp now owns 2,333,013 shares of the company’s stock worth $41,316,000 after buying an additional 27,898 shares in the last quarter.
About Tenet Healthcare Corporation
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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