Tenet Healthcare (NYSE:THC) was upgraded by stock analysts at TheStreet from a “d+” rating to a “c” rating in a note issued to investors on Tuesday, March 13th.
THC has been the subject of several other reports. ValuEngine lowered Tenet Healthcare from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Citigroup raised Tenet Healthcare from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 12th. Zacks Investment Research downgraded Tenet Healthcare from a “hold” rating to a “sell” rating in a research report on Saturday, January 20th. Wells Fargo upped their price target on Tenet Healthcare from $20.00 to $22.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 28th. Finally, William Blair reaffirmed a “market perform” rating on shares of Tenet Healthcare in a research report on Tuesday, November 21st. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $20.56.
Shares of Tenet Healthcare stock opened at $24.47 on Tuesday. The company has a debt-to-equity ratio of 27.44, a current ratio of 1.29 and a quick ratio of 1.22. Tenet Healthcare has a 52 week low of $12.25 and a 52 week high of $25.24. The company has a market capitalization of $2,446.81, a PE ratio of 30.63, a PEG ratio of 2.08 and a beta of 1.07.
Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Monday, February 26th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.15. Tenet Healthcare had a positive return on equity of 9.69% and a negative net margin of 3.67%. The business had revenue of $4.98 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same period in the previous year, the firm earned $0.06 EPS. Tenet Healthcare’s quarterly revenue was up 2.4% compared to the same quarter last year. sell-side analysts predict that Tenet Healthcare will post 0.92 earnings per share for the current year.
In related news, Director George Fredrick Smitherman acquired 125,000 shares of the business’s stock in a transaction dated Thursday, January 25th. The stock was bought at an average price of $38.50 per share, with a total value of $4,812,500.00. Also, Director Ashish Dave sold 75,000 shares of the 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. In the last three months, insiders sold 129,600 shares of company stock valued at $199,146. 3.10% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Letko Brosseau & Associates Inc. bought a new position in Tenet Healthcare during the 4th quarter worth $30,300,000. King Street Capital Management L.P. acquired a new stake in Tenet Healthcare in the third quarter valued at about $31,217,000. Millennium Management LLC acquired a new stake in Tenet Healthcare in the fourth quarter valued at about $22,655,000. Davidson Kempner Capital Management LP boosted its stake in Tenet Healthcare by 84.9% in the third 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, Price Michael F acquired a new stake in shares of Tenet Healthcare during the fourth quarter valued at about $6,064,000.
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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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