Tenet Healthcare (NYSE:THC) had its price objective hoisted by stock analysts at Citigroup from $19.00 to $27.00 in a research note issued to investors on Thursday. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 26.82% from the company’s current price.
THC has been the topic of a number of other research reports. ValuEngine cut Tenet Healthcare from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Zacks Investment Research cut Tenet Healthcare from a “hold” rating to a “sell” rating in a research note on Saturday, January 20th. Credit Suisse Group began coverage on Tenet Healthcare in a research note on Thursday, November 2nd. They issued a “neutral” rating and a $15.00 price target on the stock. Wells Fargo & Co lifted their price target on Tenet Healthcare from $20.00 to $22.00 and gave the stock a “market perform” rating in a research note on Wednesday. Finally, William Blair reissued a “market perform” rating on shares of Tenet Healthcare in a research note on Tuesday, November 21st. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $20.33.
Shares of Tenet Healthcare (NYSE:THC) traded up $0.69 during trading on Thursday, reaching $21.29. 588,729 shares of the company’s stock traded hands, compared to its average volume of 2,457,851. The company has a current ratio of 1.29, a quick ratio of 1.21 and a debt-to-equity ratio of 27.44. Tenet Healthcare has a 12-month low of $12.25 and a 12-month high of $22.00. The company has a market capitalization of $2,080.00, a PE ratio of -3.05, a PEG ratio of 4.05 and a beta of 1.24.
In other Tenet Healthcare news, Director George Fredrick Smitherman bought 125,000 shares of the stock in a transaction on Thursday, January 25th. The shares were bought at an average price of $38.50 per share, with a total value of $4,812,500.00. In the last ninety days, insiders have sold 54,600 shares of company stock worth $94,146. Company insiders own 3.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. State Street Corp grew its stake in Tenet Healthcare by 25.4% during the 2nd quarter. State Street Corp now owns 2,926,533 shares of the company’s stock valued at $56,603,000 after acquiring an additional 593,520 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Tenet Healthcare by 18.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,530,802 shares of the company’s stock valued at $41,579,000 after buying an additional 389,144 shares in the last quarter. Letko Brosseau & Associates Inc. bought a new stake in shares of Tenet Healthcare in the 4th quarter valued at approximately $30,300,000. Davidson Kempner Capital Management LP grew its stake in shares of 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 buying an additional 883,600 shares in the last quarter. Finally, King Street Capital Management L.P. bought a new stake in shares of Tenet Healthcare in the 3rd quarter valued at approximately $31,217,000.
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About Tenet Healthcare
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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