Tenet Healthcare Corporation (THC) Receives “Hold” Rating from Mizuho
A number of other brokerages also recently commented on THC. Royal Bank of Canada reissued a hold rating and set a $25.00 price objective on shares of Tenet Healthcare Corporation in a research report on Tuesday, July 18th. Deutsche Bank AG reissued a buy rating and set a $24.00 price objective on shares of Tenet Healthcare Corporation in a research report on Friday, September 1st. BidaskClub downgraded Tenet Healthcare Corporation from a hold rating to a sell rating in a research report on Saturday, August 5th. Jefferies Group LLC reissued a buy rating and set a $24.00 price objective (down from $26.00) on shares of Tenet Healthcare Corporation in a research report on Tuesday, August 8th. Finally, Robert W. Baird reaffirmed a buy rating and issued a $23.00 price target on shares of Tenet Healthcare Corporation in a report on Thursday, August 24th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $19.14.
Shares of Tenet Healthcare Corporation (THC) traded up $0.32 during trading on Friday, hitting $13.82. The stock had a trading volume of 3,128,400 shares, compared to its average volume of 3,678,229. Tenet Healthcare Corporation has a 1-year low of $12.25 and a 1-year high of $22.72. The company has a debt-to-equity ratio of 21.21, a current ratio of 1.28 and a quick ratio of 1.17.
Tenet Healthcare Corporation (NYSE:THC) last announced its quarterly earnings data on Monday, November 6th. The company reported ($0.17) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.23. Tenet Healthcare Corporation had a negative return on equity of 5.61% and a negative net margin of 2.85%. The business had revenue of $4.59 billion during the quarter, compared to the consensus estimate of $4.94 billion. During the same period in the previous year, the company posted $0.16 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. sell-side analysts predict that Tenet Healthcare Corporation will post 0.7 earnings per share for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its stake in Tenet Healthcare Corporation by 52.1% in the first quarter. PNC Financial Services Group Inc. now owns 6,618 shares of the company’s stock valued at $117,000 after buying an additional 2,266 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Tenet Healthcare Corporation by 57.4% in the first quarter. Nomura Asset Management Co. Ltd. now owns 7,100 shares of the company’s stock valued at $126,000 after buying an additional 2,590 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in Tenet Healthcare Corporation by 67.3% in the second quarter. Riverhead Capital Management LLC now owns 7,861 shares of the company’s stock valued at $152,000 after buying an additional 3,161 shares during the last quarter. Flinton Capital Management LLC lifted its stake in Tenet Healthcare Corporation by 65.7% in the second quarter. Flinton Capital Management LLC now owns 7,888 shares of the company’s stock valued at $153,000 after buying an additional 3,128 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Tenet Healthcare Corporation by 182.6% in the third quarter. Russell Investments Group Ltd. now owns 10,525 shares of the company’s stock valued at $173,000 after buying an additional 6,800 shares during the last quarter.
Tenet Healthcare Corporation 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’s segments include Hospital Operations and Other, Ambulatory Care and Conifer. As of December 31, 2016, its subsidiaries operated 79 hospitals, including three academic medical centers, two children’s hospitals, two specialty hospitals and one critical access hospital.
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