Tenet Healthcare Corporation (THC) Coverage Initiated by Analysts at William Blair
William Blair initiated coverage on shares of Tenet Healthcare Corporation (NYSE:THC) in a research note issued to investors on Tuesday morning. The brokerage issued a market perform rating on the stock.
A number of other equities research analysts have also issued reports on the stock. Deutsche Bank AG restated a buy rating and set a $24.00 price target on shares of Tenet Healthcare Corporation in a report on Friday, September 1st. Zacks Investment Research upgraded shares of Tenet Healthcare Corporation from a sell rating to a hold rating in a report on Friday, November 3rd. Robert W. Baird restated a buy rating and set a $23.00 price target on shares of Tenet Healthcare Corporation in a report on Thursday, August 24th. Leerink Swann restated an outperform rating and set a $30.00 price target (up previously from $23.00) on shares of Tenet Healthcare Corporation in a report on Sunday, August 20th. Finally, Mizuho restated a neutral rating and set a $14.00 price target on shares of Tenet Healthcare Corporation in a report on Thursday, September 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $19.00.
Shares of Tenet Healthcare Corporation (THC) opened at $13.34 on Tuesday. Tenet Healthcare Corporation has a one year low of $12.25 and a one 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 1.21.
Tenet Healthcare Corporation (NYSE:THC) last released its earnings results on Monday, November 6th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.23. Tenet Healthcare Corporation had a negative net margin of 2.85% and a negative return on equity of 5.61%. The business had revenue of $4.59 billion during the quarter, compared to analyst estimates of $4.94 billion. During the same period in the prior year, the business earned $0.16 earnings per share. The business’s quarterly revenue was down 5.4% on a year-over-year basis. equities research analysts forecast that Tenet Healthcare Corporation will post 0.7 earnings per share for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its stake in Tenet Healthcare Corporation by 52.1% in the 1st 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 period. Riverhead Capital Management LLC increased its stake in shares of Tenet Healthcare Corporation by 67.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 7,861 shares of the company’s stock worth $152,000 after purchasing an additional 3,161 shares during the last quarter. Flinton Capital Management LLC increased its stake in shares of Tenet Healthcare Corporation by 65.7% during the 2nd quarter. Flinton Capital Management LLC now owns 7,888 shares of the company’s stock worth $153,000 after purchasing an additional 3,128 shares during the last quarter. Pentwater Capital Management LP acquired a new position in shares of Tenet Healthcare Corporation during the 3rd quarter worth $164,000. Finally, Russell Investments Group Ltd. increased its stake in shares of Tenet Healthcare Corporation by 182.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 10,525 shares of the company’s stock worth $173,000 after purchasing an additional 6,800 shares during the last quarter.
About Tenet Healthcare Corporation
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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