Mizuho Reiterates “Buy” Rating for Tenet Healthcare (THC)

Mizuho reiterated their buy rating on shares of Tenet Healthcare (NYSE:THC) in a report issued on Thursday, Marketbeat reports. Mizuho currently has a $29.00 price objective on the stock.

Other equities analysts also recently issued reports about the stock. TheStreet raised shares of Tenet Healthcare from a d+ rating to a c rating in a report on Tuesday, March 13th. Zacks Investment Research raised shares of Tenet Healthcare from a sell rating to a hold rating in a report on Tuesday, March 13th. ValuEngine raised shares of Tenet Healthcare from a hold rating to a buy rating in a report on Wednesday, March 7th. JPMorgan Chase & Co. lifted their price objective on shares of Tenet Healthcare from $15.00 to $18.00 and gave the stock an underweight rating in a report on Monday, March 5th. Finally, Citigroup lifted their price objective on shares of Tenet Healthcare from $19.00 to $27.00 and gave the stock a buy rating in a report on Thursday, March 1st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Tenet Healthcare currently has an average rating of Hold and a consensus price target of $21.44.

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Shares of Tenet Healthcare stock opened at $24.77 on Thursday. Tenet Healthcare has a 52-week low of $12.25 and a 52-week high of $25.24. The company has a debt-to-equity ratio of 27.44, a current ratio of 1.29 and a quick ratio of 1.22. The stock has a market cap of $2,504.45, a price-to-earnings ratio of -3.54, a P/E/G ratio of 2.13 and a beta of 1.07.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Monday, February 26th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.15. Tenet Healthcare had a negative net margin of 3.67% and a positive return on equity of 9.69%. The business had revenue of $4.98 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter last year, the firm posted $0.06 EPS. Tenet Healthcare’s revenue was up 2.4% compared to the same quarter last year. equities analysts forecast that Tenet Healthcare will post 0.92 earnings per share for the current year.

In related news, Director George Fredrick Smitherman sold 1,300 shares of the business’s stock in a transaction dated Monday, January 15th. The shares were sold at an average price of $38.50, for a total value of $50,050.00. Also, Director Ashish Dave sold 75,000 shares of the business’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $1.40, for a total transaction of $105,000.00. Insiders sold a total of 129,600 shares of company stock worth $199,146 over the last three months. 3.10% of the stock is owned by insiders.

Several large investors have recently modified their holdings of THC. Letko Brosseau & Associates Inc. purchased a new position in shares of Tenet Healthcare in the 4th quarter worth about $30,300,000. King Street Capital Management L.P. bought a new stake in Tenet Healthcare in the 3rd quarter valued at about $31,217,000. Millennium Management LLC bought a new stake in Tenet Healthcare in the 4th quarter valued at about $22,655,000. Davidson Kempner Capital Management LP raised its stake 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 period. Finally, Price Michael F bought a new stake in Tenet Healthcare in the 4th quarter valued at about $6,064,000.

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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)

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