Tenet Healthcare (THC) Shares Gap Down to $24.47

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.



Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Monday, February 26th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.15. The business had revenue of $4.98 billion for the quarter, compared to analysts’ expectations of $4.85 billion. Tenet Healthcare had a negative net margin of 3.67% and a positive return on equity of 9.69%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.06 earnings per share. equities analysts expect that Tenet Healthcare will post 0.94 earnings per share for the current fiscal year.

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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