Tenet Healthcare Corp. (NYSE:THC) was downgraded by investment analysts at TheStreet from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

A number of other brokerages have also recently issued reports on THC. Zacks Investment Research cut shares of Tenet Healthcare Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 19th. Morgan Stanley reissued a “hold” rating and set a $38.00 target price on shares of Tenet Healthcare Corp. in a report on Tuesday, August 2nd. Mizuho reissued a “neutral” rating and set a $28.00 target price (down previously from $33.00) on shares of Tenet Healthcare Corp. in a report on Tuesday, August 2nd. Ladenburg Thalmann raised shares of Tenet Healthcare Corp. from a “not rated” rating to an “underperform” rating in a report on Monday, June 13th. Finally, Jefferies Group reissued a “buy” rating on shares of Tenet Healthcare Corp. in a report on Monday, July 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $32.64.

Analyst Recommendations for Tenet Healthcare Corp. (NYSE:THC)

Tenet Healthcare Corp. (NYSE:THC) traded up 3.14% during midday trading on Friday, hitting $21.35. The stock had a trading volume of 1,976,015 shares. The company’s 50-day moving average price is $22.91 and its 200 day moving average price is $27.54. The company’s market capitalization is $2.12 billion. Tenet Healthcare Corp. has a 52 week low of $20.40 and a 52 week high of $37.25.

Tenet Healthcare Corp. (NYSE:THC) last issued its earnings results on Monday, August 1st. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by $0.14. Tenet Healthcare Corp. had a negative net margin of 1.15% and a positive return on equity of 14.47%. The business had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the previous year, the firm earned $0.75 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. On average, analysts expect that Tenet Healthcare Corp. will post $1.54 EPS for the current year.

Several institutional investors have recently modified their holdings of THC. Tower Research Capital LLC TRC increased its position in shares of Tenet Healthcare Corp. by 222.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,647 shares of the company’s stock valued at $101,000 after buying an additional 2,515 shares during the period. US Bancorp DE increased its position in shares of Tenet Healthcare Corp. by 0.9% in the second quarter. US Bancorp DE now owns 3,879 shares of the company’s stock valued at $107,000 after buying an additional 33 shares during the period. Emerald Acquisition Ltd. purchased a new position in shares of Tenet Healthcare Corp. during the second quarter valued at approximately $142,000. Acadian Asset Management LLC increased its position in shares of Tenet Healthcare Corp. by 1,534.5% in the second quarter. Acadian Asset Management LLC now owns 6,211 shares of the company’s stock valued at $171,000 after buying an additional 5,831 shares during the period. Finally, Acrospire Investment Management LLC increased its position in shares of Tenet Healthcare Corp. by 142.6% in the second quarter. Acrospire Investment Management LLC now owns 6,975 shares of the company’s stock valued at $193,000 after buying an additional 4,100 shares during the period.

Tenet Healthcare Corp. 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 operates through three segments: Hospital Operations and other, Ambulatory Care and Conifer.

5 Day Chart for NYSE:THC

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