Tenet Healthcare (NYSE:THC)‘s stock had its “buy” rating restated by analysts at Leerink Swann in a research report issued on Wednesday, December 20th. They presently have a $27.00 price target on the stock. Leerink Swann’s price objective points to a potential upside of 66.15% from the company’s previous close. Leerink Swann also issued estimates for Tenet Healthcare’s Q1 2018 earnings at $0.47 EPS, Q2 2018 earnings at $0.28 EPS, Q3 2018 earnings at $0.24 EPS and Q4 2018 earnings at $0.30 EPS.
A number of other equities research analysts also recently commented on the stock. Deutsche Bank reaffirmed a “buy” rating and issued a $24.00 target price on shares of Tenet Healthcare in a research report on Friday, September 1st. JPMorgan Chase & Co. downgraded shares of Tenet Healthcare from a “neutral” rating to an “underweight” rating and set a $15.00 price objective for the company. in a research report on Thursday, December 14th. Zacks Investment Research raised shares of Tenet Healthcare from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. William Blair reissued a “market perform” rating on shares of Tenet Healthcare in a research report on Tuesday, November 21st. Finally, Citigroup upgraded shares of Tenet Healthcare from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 12th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $18.50.
Tenet Healthcare (THC) opened at $16.25 on Wednesday. The stock has a market cap of $1,640.00, a P/E ratio of -2.95, a PEG ratio of 2.13 and a beta of 1.17. The company has a current ratio of 1.28, a quick ratio of 1.21 and a debt-to-equity ratio of 21.21. Tenet Healthcare has a 1-year low of $12.25 and a 1-year high of $22.72.
Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Monday, November 6th. The company reported ($0.17) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.23. Tenet Healthcare had a negative net margin of 6.28% and a negative return on equity of 739.56%. The company had revenue of $4.59 billion during the quarter, compared to the consensus estimate of $4.94 billion. During the same quarter last year, the firm earned $0.16 earnings per share. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. sell-side analysts predict that Tenet Healthcare will post 0.69 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA lifted its position in shares of Tenet Healthcare by 34.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 66,690 shares of the company’s stock worth $1,290,000 after purchasing an additional 17,151 shares during the period. Private Management Group Inc. lifted its position in shares of Tenet Healthcare by 1.2% in the 2nd quarter. Private Management Group Inc. now owns 813,918 shares of the company’s stock worth $15,741,000 after purchasing an additional 9,386 shares during the period. Boston Private Wealth LLC lifted its position in shares of Tenet Healthcare by 13.9% in the 3rd quarter. Boston Private Wealth LLC now owns 77,505 shares of the company’s stock worth $1,273,000 after purchasing an additional 9,435 shares during the period. Point72 Asset Management L.P. purchased a new stake in Tenet Healthcare during the third quarter valued at approximately $4,640,000. Finally, Franklin Resources Inc. lifted its position in Tenet Healthcare by 25.0% during the second quarter. Franklin Resources Inc. now owns 5,000,000 shares of the company’s stock valued at $96,700,000 after acquiring an additional 1,000,000 shares during the last quarter.
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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