A number of other brokerages also recently weighed in on THC. Zacks Investment Research raised shares of Tenet Healthcare from a sell rating to a hold rating in a research note on Tuesday. ValuEngine upgraded shares of Tenet Healthcare from a hold rating to a buy rating in a report on Wednesday, March 7th. JPMorgan Chase & Co. increased their price target on shares of Tenet Healthcare from $15.00 to $18.00 and gave the company an underweight rating in a report on Monday, March 5th. Citigroup increased their price target on shares of Tenet Healthcare from $19.00 to $27.00 and gave the company a buy rating in a report on Thursday, March 1st. Finally, Wells Fargo & Co increased their price target on shares of Tenet Healthcare from $20.00 to $22.00 and gave the company a market perform rating in a report on Wednesday, February 28th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $20.56.
Tenet Healthcare (NYSE THC) opened at $24.42 on Tuesday. Tenet Healthcare has a one year low of $12.25 and a one year high of $24.89. The firm has a market cap of $2,442.77, a P/E ratio of -3.49, a price-to-earnings-growth ratio of 2.07 and a beta of 1.07. The company has a current ratio of 1.29, a quick ratio of 1.22 and a debt-to-equity ratio of 27.44.
Tenet Healthcare (NYSE:THC) last announced its earnings results on Monday, February 26th. The company reported $1.40 earnings per share for the quarter, beating the Zacks’ 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 earned $0.06 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. equities research analysts expect that Tenet Healthcare will post 0.92 EPS for the current fiscal year.
In related news, Director Ashish Dave sold 75,000 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $1.40, for a total value of $105,000.00. Also, Director George Fredrick Smitherman sold 1,300 shares of the firm’s stock in a transaction that occurred on Monday, January 15th. The stock was sold at an average price of $38.50, for a total transaction of $50,050.00. Insiders sold 129,600 shares of company stock worth $199,146 in the last 90 days. 3.10% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Boston Private Wealth LLC boosted its holdings in Tenet Healthcare by 13.9% in the third 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 last quarter. Point72 Asset Management L.P. purchased a new stake in Tenet Healthcare in the third quarter worth approximately $4,640,000. King Street Capital Management L.P. bought a new position in Tenet Healthcare in the third quarter worth approximately $31,217,000. Scoggin Management LP bought a new position in Tenet Healthcare in the third quarter worth approximately $657,000. Finally, Legal & General Group Plc raised its position in Tenet Healthcare by 15.9% in the third quarter. Legal & General Group Plc now owns 336,284 shares of the company’s stock worth $5,521,000 after acquiring an additional 46,257 shares during the period.
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.
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