Tenet Healthcare Corp. (NYSE:THC) – Equities research analysts at Leerink Swann lowered their FY2018 EPS estimates for Tenet Healthcare Corp. in a research note issued to investors on Wednesday. Leerink Swann analyst A. Gupte now forecasts that the firm will post earnings per share of $2.49 for the year, down from their previous forecast of $2.77. Leerink Swann has a “Market Perform” rating and a $28.00 price objective on the stock.

A number of other brokerages have also recently issued reports on THC. Morgan Stanley reissued a “hold” rating and issued a $38.00 target price on shares of Tenet Healthcare Corp. in a report on Tuesday, August 2nd. Mizuho reissued a “neutral” rating and issued a $28.00 target price (down from $33.00) on shares of Tenet Healthcare Corp. in a report on Tuesday, August 2nd. Citigroup Inc. dropped their target price on Tenet Healthcare Corp. from $36.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, August 4th. Zacks Investment Research cut Tenet Healthcare Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, August 3rd. Finally, Barclays PLC reissued a “buy” rating and issued a $39.00 target price on shares of Tenet Healthcare Corp. in a report on Friday, August 19th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $30.69.

Earnings History and Estimates for Tenet Healthcare Corp. (NYSE:THC)

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Tenet Healthcare Corp. (NYSE:THC) traded down 0.25% during mid-day trading on Friday, hitting $16.22. The stock had a trading volume of 651,020 shares. Tenet Healthcare Corp. has a 1-year low of $14.06 and a 1-year high of $35.35. The firm’s market cap is $1.62 billion. The stock has a 50 day moving average of $19.53 and a 200-day moving average of $24.94.

Tenet Healthcare Corp. (NYSE:THC) last posted its quarterly earnings data on Monday, October 31st. The company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.01. Tenet Healthcare Corp. had a positive return on equity of 12.75% and a negative net margin of 1.04%. The firm earned $4.85 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the prior year, the firm posted $0.29 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis.

In related news, Director Ronald A. Rittenmeyer purchased 15,000 shares of the business’s stock in a transaction dated Friday, November 11th. The shares were bought 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 in the company, valued at approximately $341,286.05. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter M. Wilver purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, November 9th. The stock was bought at an average cost of $15.19 per share, for a total transaction of $75,950.00. Following the purchase, the director now owns 5,000 shares in the company, valued at $75,950. The disclosure for this purchase can be found here. 2.90% of the stock is owned by insiders.

ILLEGAL ACTIVITY WARNING: “FY2018 Earnings Forecast for Tenet Healthcare Corp. Issued By Leerink Swann (THC)” was published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece of content on another domain, it was stolen and republished in violation of U.S. and international copyright laws. The original version of this piece of content can be accessed at https://www.thecerbatgem.com/2016/11/26/fy2018-earnings-forecast-for-tenet-healthcare-corp-issued-by-leerink-swann-thc.html.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in shares of Tenet Healthcare Corp. by 1.1% in the first quarter. Geode Capital Management LLC now owns 793,231 shares of the company’s stock valued at $22,910,000 after buying an additional 8,677 shares during the last quarter. Squarepoint Ops LLC increased its stake in shares of Tenet Healthcare Corp. by 376.9% in the first quarter. Squarepoint Ops LLC now owns 34,876 shares of the company’s stock valued at $1,009,000 after buying an additional 27,563 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Tenet Healthcare Corp. by 60.7% in the second quarter. BNP Paribas Arbitrage SA now owns 112,767 shares of the company’s stock valued at $3,117,000 after buying an additional 42,603 shares during the last quarter. NEXT Financial Group Inc increased its stake in shares of Tenet Healthcare Corp. by 14.7% in the second quarter. NEXT Financial Group Inc now owns 7,425 shares of the company’s stock valued at $205,000 after buying an additional 950 shares during the last quarter. Finally, Quotient Investors LLC increased its stake in shares of Tenet Healthcare Corp. by 54.3% in the second quarter. Quotient Investors LLC now owns 161,767 shares of the company’s stock valued at $4,471,000 after buying an additional 56,930 shares during the last quarter.

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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