Tenet Healthcare (NYSE:THC) shares gapped down prior to trading on Thursday . The stock had previously closed at $25.19, but opened at $24.47. Tenet Healthcare shares last traded at $23.28, with a volume of 2937537 shares.
THC has been the topic of several recent analyst reports. Wells Fargo initiated coverage on shares of Tenet Healthcare in a report on Tuesday, January 30th. They issued a “market perform” rating and a $20.00 target price on the stock. Goldman Sachs initiated coverage on shares of Tenet Healthcare in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $15.00 target price on the stock. Zacks Investment Research cut shares of Tenet Healthcare from a “hold” rating to a “sell” rating in a report on Saturday, January 20th. Citigroup raised their target price on shares of Tenet Healthcare from $19.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, March 1st. Finally, ValuEngine cut shares of Tenet Healthcare from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $22.19.
The firm has a market cap of $2,418.50, a price-to-earnings ratio of 28.74, a price-to-earnings-growth ratio of 2.02 and a beta of 0.80. The company has a debt-to-equity ratio of 27.44, a quick ratio of 1.22 and a current ratio of 1.29.
In other Tenet Healthcare news, Director Ashish Dave sold 75,000 shares of the firm’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $1.40, for a total transaction of $105,000.00. Also, Director George Fredrick Smitherman sold 14,300 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $2.02, for a total value of $28,886.00. In the last quarter, insiders sold 128,300 shares of company stock worth $149,096. 1.20% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the business. Folger Hill Asset Management LP purchased a new position in Tenet Healthcare during the fourth quarter valued at $1,137,000. Gotham Asset Management LLC lifted its position in Tenet Healthcare by 446.4% during the fourth quarter. Gotham Asset Management LLC now owns 439,274 shares of the company’s stock valued at $6,659,000 after buying an additional 358,885 shares during the period. Millennium Management LLC purchased a new position in Tenet Healthcare during the fourth quarter valued at $22,655,000. MetLife Investment Advisors LLC purchased a new position in Tenet Healthcare during the fourth quarter valued at $1,358,000. Finally, California Public Employees Retirement System lifted its position in Tenet Healthcare by 6.3% during the fourth quarter. California Public Employees Retirement System now owns 965,955 shares of the company’s stock valued at $14,644,000 after buying an additional 56,838 shares during the period.
Tenet Healthcare Company Profile
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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