Shares of Tenet Healthcare Corp. (NYSE:THC) have received a consensus rating of “Hold” from the twenty-one research firms that are currently covering the firm. Two research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $32.77.
Several research analysts recently issued reports on THC shares. Leerink Swann reissued a “market perform” rating and set a $28.00 price target (down from $30.00) on shares of Tenet Healthcare Corp. in a report on Sunday, September 4th. Mizuho cut their price target on shares of Tenet Healthcare Corp. from $28.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, October 5th. Barclays PLC reissued a “buy” rating and set a $39.00 price target on shares of Tenet Healthcare Corp. in a report on Friday, August 19th. TheStreet cut shares of Tenet Healthcare Corp. from a “hold” rating to a “sell” rating in a report on Friday, October 7th. Finally, Zacks Investment Research raised shares of Tenet Healthcare Corp. from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Tuesday, October 4th.
Tenet Healthcare Corp. (NYSE:THC) traded down 0.95% on Friday, reaching $22.91. 2,460,497 shares of the company’s stock were exchanged. Tenet Healthcare Corp. has a 12-month low of $20.40 and a 12-month high of $37.25. The firm has a 50 day moving average of $22.70 and a 200-day moving average of $27.42. The company’s market cap is $2.28 billion.
Tenet Healthcare Corp. (NYSE:THC) last announced its earnings results on Monday, August 1st. The company reported $0.38 EPS 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 business earned $4.87 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the previous year, the company posted $0.75 earnings per share. Tenet Healthcare Corp.’s quarterly revenue was up 8.4% on a year-over-year basis. Equities analysts expect that Tenet Healthcare Corp. will post $1.54 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its position in shares of Tenet Healthcare Corp. by 222.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,647 shares of the company’s stock valued at $101,000 after buying an additional 2,515 shares during the last quarter. US Bancorp DE increased its position in Tenet Healthcare Corp. by 0.9% in the second quarter. US Bancorp DE now owns 3,879 shares of the company’s stock worth $107,000 after buying an additional 33 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in Tenet Healthcare Corp. during the second quarter worth $142,000. Creative Planning increased its position in Tenet Healthcare Corp. by 618.0% in the third quarter. Creative Planning now owns 6,354 shares of the company’s stock worth $144,000 after buying an additional 5,469 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in Tenet Healthcare Corp. by 1,534.5% in the second quarter. Acadian Asset Management LLC now owns 6,211 shares of the company’s stock worth $171,000 after buying an additional 5,831 shares in 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.
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