Equities researchers at Credit Suisse Group AG initiated coverage on shares of Tenet Healthcare Corporation (NYSE:THC) in a research note issued on Thursday. The brokerage set a “neutral” rating and a $15.00 price target on the stock. Credit Suisse Group AG’s target price would indicate a potential upside of 5.04% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Citigroup Inc. reaffirmed a “neutral” rating and set a $16.00 target price (down previously from $20.00) on shares of Tenet Healthcare Corporation in a research report on Thursday, August 10th. Zacks Investment Research raised Tenet Healthcare Corporation from a “hold” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a research report on Monday, July 10th. Deutsche Bank AG reaffirmed a “buy” rating and set a $24.00 target price (down previously from $28.00) on shares of Tenet Healthcare Corporation in a research report on Thursday, August 10th. Robert W. Baird reaffirmed an “outperform” rating and set a $23.00 target price on shares of Tenet Healthcare Corporation in a research report on Thursday, August 10th. Finally, SunTrust Banks, Inc. set a $15.00 target price on Tenet Healthcare Corporation and gave the company a “hold” rating in a research report on Sunday, October 15th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $20.20.

Tenet Healthcare Corporation (NYSE:THC) last announced its earnings results on Monday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.17). The company had revenue of $14.80 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Tenet Healthcare Corporation had a negative return on equity of 5.11% and a negative net margin of 2.85%. Tenet Healthcare Corporation’s quarterly revenue was up 204.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.38 earnings per share.

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Several institutional investors and hedge funds have recently modified their holdings of THC. Davidson Kempner Capital Management LP bought a new stake in shares of Tenet Healthcare Corporation in the second quarter valued at $20,133,000. FMR LLC raised its stake in shares of Tenet Healthcare Corporation by 36.9% in the second quarter. FMR LLC now owns 3,724,713 shares of the company’s stock valued at $72,036,000 after buying an additional 1,004,700 shares during the period. Franklin Resources Inc. raised its stake in shares of Tenet Healthcare Corporation by 25.0% in the second quarter. Franklin Resources Inc. now owns 5,000,000 shares of the company’s stock valued at $96,700,000 after buying an additional 1,000,000 shares during the period. First Eagle Investment Management LLC bought a new stake in shares of Tenet Healthcare Corporation in the second quarter valued at $15,059,000. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of Tenet Healthcare Corporation by 60.2% in the second quarter. State of New Jersey Common Pension Fund D now owns 1,862,500 shares of the company’s stock valued at $36,021,000 after buying an additional 700,000 shares during the period.

About Tenet Healthcare Corporation

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 Corporation (NYSE:THC)

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