Tenet Healthcare Corp. (NYSE:THC) was downgraded by TheStreet from a “hold” rating to a “sell” rating in a report issued on Friday.
A number of other equities research analysts have also weighed in on THC. Ladenburg Thalmann upgraded shares of Tenet Healthcare Corp. from a “not rated” rating to an “underperform” rating in a report on Monday, June 13th. Credit Suisse Group AG restated a “hold” rating on shares of Tenet Healthcare Corp. in a report on Tuesday, June 28th. Jefferies Group restated a “buy” rating on shares of Tenet Healthcare Corp. in a report on Monday, July 11th. Zacks Investment Research upgraded shares of Tenet Healthcare Corp. from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Monday, July 18th. Finally, Mizuho restated a “neutral” rating and issued a $28.00 price target (down previously from $33.00) on shares of Tenet Healthcare Corp. in a report on Tuesday, August 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $32.64.
Shares of Tenet Healthcare Corp. (NYSE:THC) traded up 3.14% during trading on Friday, hitting $21.35. 1,976,015 shares of the stock traded hands. Tenet Healthcare Corp. has a 12 month low of $20.40 and a 12 month high of $37.25. The firm’s 50-day moving average price is $22.91 and its 200-day moving average price is $27.54. The stock’s market cap is $2.12 billion.
Tenet Healthcare Corp. (NYSE:THC) last announced its quarterly earnings data on Monday, August 1st. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by $0.14. Tenet Healthcare Corp. had a negative net margin of 1.15% and a positive return on equity of 14.47%. The company had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the previous year, the business earned $0.75 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. Analysts anticipate that Tenet Healthcare Corp. will post $1.54 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors increased its stake in Tenet Healthcare Corp. by 94.3% in the second quarter. BlackRock Fund Advisors now owns 3,611,528 shares of the company’s stock valued at $99,823,000 after buying an additional 1,753,061 shares during the period. Bridger Management LLC purchased a new stake in shares of Tenet Healthcare Corp. during the first quarter worth about $25,113,000. Old Mutual Global Investors UK Ltd. increased its stake in shares of Tenet Healthcare Corp. by 164.2% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 824,233 shares of the company’s stock worth $22,781,000 after buying an additional 512,212 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Tenet Healthcare Corp. by 75.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,164,036 shares of the company’s stock worth $32,174,000 after buying an additional 501,551 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Tenet Healthcare Corp. by 49.2% in the second quarter. Bank of New York Mellon Corp now owns 1,296,517 shares of the company’s stock worth $35,837,000 after buying an additional 427,803 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.
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