Tenet Healthcare Corp. (NYSE:THC) was downgraded by investment analysts at Mizuho from a “neutral” rating to an “underperform” rating in a report released on Tuesday. They currently have a $13.00 price target on the stock. Mizuho’s target price suggests a potential downside of 23.57% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Tenet Healthcare Corp. from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Tuesday, October 4th. Barclays PLC reissued a “buy” rating and set a $39.00 target price on shares of Tenet Healthcare Corp. in a research report on Friday, August 19th. Morgan Stanley reissued a “hold” rating and set a $38.00 target price on shares of Tenet Healthcare Corp. in a research report on Tuesday, August 2nd. Leerink Swann reissued a “market perform” rating and set a $28.00 target price (down from $30.00) on shares of Tenet Healthcare Corp. in a research report on Sunday, September 4th. Finally, Wolfe Research started coverage on shares of Tenet Healthcare Corp. in a research report on Tuesday, October 25th. They set a “market perform” rating on the stock. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. Tenet Healthcare Corp. has an average rating of “Hold” and an average target price of $30.93.

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

Shares of Tenet Healthcare Corp. (NYSE:THC) opened at 17.01 on Tuesday. The firm’s 50-day moving average price is $20.03 and its 200 day moving average price is $25.22. The firm’s market cap is $1.69 billion. Tenet Healthcare Corp. has a 52 week low of $14.06 and a 52 week high of $35.35.

Tenet Healthcare Corp. (NYSE:THC) last posted its earnings results on Monday, October 31st. The company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $2.28 billion. Tenet Healthcare Corp. had a positive return on equity of 12.75% and a negative net margin of 1.04%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.29 earnings per share. Equities analysts anticipate that Tenet Healthcare Corp. will post $1.19 EPS for the current year.

In other news, Director Peter M. Wilver bought 5,000 shares of the business’s stock in a transaction dated Wednesday, November 9th. The stock was bought at an average price of $15.19 per share, for a total transaction of $75,950.00. Following the completion of the purchase, the director now owns 5,000 shares of the company’s stock, valued at approximately $75,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronald A. Rittenmeyer bought 15,000 shares of the business’s stock in a transaction dated Friday, November 11th. The stock was purchased at an average price of $14.35 per share, with a total value of $215,250.00. Following the purchase, the director now directly owns 23,783 shares of the company’s stock, valued at approximately $341,286.05. The disclosure for this purchase can be found here. 2.90% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of THC. Harris Associates L P boosted its position in Tenet Healthcare Corp. by 0.7% in the second quarter. Harris Associates L P now owns 8,333,793 shares of the company’s stock worth $230,346,000 after buying an additional 60,200 shares during the period. Nomura Holdings Inc. boosted its position in Tenet Healthcare Corp. by 26.3% in the second quarter. Nomura Holdings Inc. now owns 10,355 shares of the company’s stock worth $286,000 after buying an additional 2,157 shares during the period. Geode Capital Management LLC boosted its position in Tenet Healthcare Corp. by 1.1% in the first quarter. Geode Capital Management LLC now owns 793,231 shares of the company’s stock worth $22,910,000 after buying an additional 8,677 shares during the period. Winslow Asset Management Inc. boosted its position in Tenet Healthcare Corp. by 0.9% in the second quarter. Winslow Asset Management Inc. now owns 225,850 shares of the company’s stock worth $6,242,000 after buying an additional 1,976 shares during the period. Finally, Retirement Systems of Alabama boosted its position in Tenet Healthcare Corp. by 157.0% in the second quarter. Retirement Systems of Alabama now owns 128,098 shares of the company’s stock worth $3,541,000 after buying an additional 78,248 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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