Leerink Swann Comments on Tenet Healthcare Corp’s Q2 2018 Earnings (NYSE:THC)

Tenet Healthcare Corp (NYSE:THC) – Leerink Swann issued their Q2 2018 earnings per share (EPS) estimates for Tenet Healthcare in a report issued on Wednesday, according to Zacks Investment Research. Leerink Swann analyst A. Gupte expects that the company will post earnings of $0.28 per share for the quarter. Leerink Swann currently has a “Buy” rating and a $27.00 price target on the stock. Leerink Swann also issued estimates for Tenet Healthcare’s Q3 2018 earnings at $0.24 EPS and Q4 2018 earnings at $0.30 EPS.

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. Tenet Healthcare had a negative return on equity of 739.56% and a negative net margin of 6.28%. The company had revenue of $4.59 billion for the quarter, compared to the consensus estimate of $4.94 billion. During the same quarter in the prior year, the business earned $0.16 EPS. Tenet Healthcare’s revenue was down 5.4% on a year-over-year basis.

THC has been the topic of a number of other research reports. ValuEngine downgraded Tenet Healthcare from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Citigroup upgraded Tenet Healthcare from a “neutral” rating to a “buy” rating in a report on Tuesday, December 12th. Royal Bank of Canada reiterated a “hold” rating and issued a $19.00 price objective on shares of Tenet Healthcare in a report on Monday, September 25th. Credit Suisse Group began coverage on Tenet Healthcare in a report on Thursday, November 2nd. They issued a “neutral” rating and a $15.00 price objective on the stock. Finally, William Blair reiterated a “market perform” rating on shares of Tenet Healthcare in a report on Tuesday, November 21st. Four analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. Tenet Healthcare currently has a consensus rating of “Hold” and an average target price of $18.50.

Tenet Healthcare (NYSE THC) opened at $16.25 on Thursday. Tenet Healthcare has a 1-year low of $12.25 and a 1-year high of $22.72. The company has a market capitalization of $1,640.00, a PE ratio of -2.95, a PEG ratio of 2.13 and a beta of 1.17. The company has a debt-to-equity ratio of 21.21, a current ratio of 1.28 and a quick ratio of 1.21.

A number of institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio lifted its position in Tenet Healthcare by 86.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 34,465 shares of the company’s stock worth $566,000 after acquiring an additional 16,000 shares during the period. Sterling Capital Management LLC acquired a new stake in Tenet Healthcare during the 3rd quarter worth approximately $227,000. Scoggin Management LP acquired a new stake in Tenet Healthcare during the 3rd quarter worth approximately $657,000. California Public Employees Retirement System lifted its position in Tenet Healthcare by 14.4% during the 3rd quarter. California Public Employees Retirement System now owns 909,117 shares of the company’s stock worth $14,937,000 after acquiring an additional 114,407 shares during the period. Finally, Davidson Kempner Capital Management LP lifted its position in Tenet Healthcare by 84.9% during the 3rd quarter. Davidson Kempner Capital Management LP now owns 1,924,600 shares of the company’s stock worth $31,621,000 after acquiring an additional 883,600 shares during the period.

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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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