Tenet Healthcare (NYSE:THC) was downgraded by equities researchers at J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating in a research report issued on Thursday. They currently have a $15.00 price objective on the stock. J P Morgan Chase & Co’s price objective suggests a potential upside of 4.60% from the stock’s current price.

THC has been the topic of several other research reports. Robert W. Baird reiterated a “buy” rating and set a $23.00 price target on shares of Tenet Healthcare in a research note on Thursday, August 24th. Citigroup reiterated a “hold” rating and set a $16.00 price target on shares of Tenet Healthcare in a research note on Thursday, September 14th. Royal Bank of Canada restated a “hold” rating and set a $19.00 target price on shares of Tenet Healthcare in a research note on Monday, September 25th. Mizuho restated a “neutral” rating and set a $14.00 target price on shares of Tenet Healthcare in a research note on Sunday, August 20th. Finally, Credit Suisse Group assumed coverage on shares of Tenet Healthcare in a research note on Thursday, November 2nd. They set a “neutral” rating and a $15.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $18.73.

Shares of Tenet Healthcare (THC) opened at $14.34 on Thursday. 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 has a 1 year low of $12.25 and a 1 year high of $22.72.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Monday, November 6th. The company reported ($0.17) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.23. The business had revenue of $4.59 billion for the quarter, compared to analysts’ expectations of $4.94 billion. Tenet Healthcare had a negative net margin of 2.85% and a negative return on equity of 5.61%. The company’s revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.16 EPS. research analysts expect that Tenet Healthcare will post 0.69 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio increased its holdings in Tenet Healthcare by 86.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 34,465 shares of the company’s stock valued at $566,000 after acquiring an additional 16,000 shares during the last quarter. Sterling Capital Management LLC bought a new stake in Tenet Healthcare in the 3rd quarter valued at $227,000. Scoggin Management LP bought a new stake in Tenet Healthcare in the 3rd quarter valued at $657,000. California Public Employees Retirement System increased its holdings in Tenet Healthcare by 14.4% in the 3rd quarter. California Public Employees Retirement System now owns 909,117 shares of the company’s stock valued at $14,937,000 after acquiring an additional 114,407 shares during the last quarter. Finally, Davidson Kempner Capital Management LP increased its holdings in Tenet Healthcare by 84.9% in the 3rd quarter. Davidson Kempner Capital Management LP now owns 1,924,600 shares of the company’s stock valued at $31,621,000 after acquiring an additional 883,600 shares during the last quarter.

WARNING: “Tenet Healthcare (THC) Rating Lowered to Underweight at J P Morgan Chase & Co” was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another domain, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this news story can be viewed at https://www.thecerbatgem.com/2017/12/16/tenet-healthcare-thc-rating-lowered-to-underweight-at-j-p-morgan-chase-co.html.

Tenet Healthcare 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.

Analyst Recommendations for Tenet Healthcare (NYSE:THC)

Receive News & Stock Ratings for Tenet Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenet Healthcare and related stocks with our FREE daily email newsletter.