Morgan Stanley Lowers Tenet Healthcare Corporation (THC) Price Target to $14.00

Tenet Healthcare Corporation (NYSE:THC) had its target price dropped by research analysts at Morgan Stanley from $15.00 to $14.00 in a research note issued on Thursday. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 1.30% from the company’s previous close.

Several other research firms have also weighed in on THC. Citigroup Inc. reiterated a “neutral” rating and issued a $16.00 target price (down from $20.00) on shares of Tenet Healthcare Corporation in a report on Thursday, August 10th. Zacks Investment Research upgraded shares of Tenet Healthcare Corporation from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Deutsche Bank AG reiterated a “buy” rating and issued a $24.00 target price (down from $28.00) on shares of Tenet Healthcare Corporation in a report on Thursday, August 10th. Royal Bank Of Canada reiterated a “hold” rating and issued a $19.00 target price on shares of Tenet Healthcare Corporation in a report on Monday, September 25th. Finally, Credit Suisse Group started coverage on shares of Tenet Healthcare Corporation in a report on Thursday, November 2nd. They issued a “neutral” rating and a $15.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $19.14.

Shares of Tenet Healthcare Corporation (NYSE:THC) opened at $13.82 on Thursday. Tenet Healthcare Corporation has a one year low of $12.25 and a one year high of $22.72. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 21.21.

Tenet Healthcare Corporation (NYSE:THC) last announced its quarterly earnings data on Monday, November 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.23. Tenet Healthcare Corporation had a negative net margin of 2.85% and a negative return on equity of 5.61%. The company had revenue of $4.59 billion during the quarter, compared to analysts’ expectations of $4.94 billion. During the same quarter in the prior year, the company earned $0.16 EPS. Tenet Healthcare Corporation’s revenue was down 5.4% compared to the same quarter last year. analysts expect that Tenet Healthcare Corporation will post 0.7 earnings per share for the current fiscal year.

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Several hedge funds have recently modified their holdings of THC. PNC Financial Services Group Inc. lifted its holdings in shares of Tenet Healthcare Corporation by 52.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,618 shares of the company’s stock worth $117,000 after acquiring an additional 2,266 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Tenet Healthcare Corporation by 57.4% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 7,100 shares of the company’s stock worth $126,000 after acquiring an additional 2,590 shares during the last quarter. Riverhead Capital Management LLC lifted its holdings in shares of Tenet Healthcare Corporation by 67.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 7,861 shares of the company’s stock worth $152,000 after acquiring an additional 3,161 shares during the last quarter. Flinton Capital Management LLC lifted its holdings in shares of Tenet Healthcare Corporation by 65.7% in the 2nd quarter. Flinton Capital Management LLC now owns 7,888 shares of the company’s stock worth $153,000 after acquiring an additional 3,128 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Tenet Healthcare Corporation by 182.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 10,525 shares of the company’s stock worth $173,000 after acquiring an additional 6,800 shares during the last quarter.

Tenet Healthcare Corporation Company Profile

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 Corporation (NYSE:THC)

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