Goldman Sachs Group Initiates Coverage on Tenet Healthcare (NYSE:THC)
Goldman Sachs Group started coverage on shares of Tenet Healthcare (NYSE:THC) in a research note published on Wednesday, BenzingaRatingsTable reports. The brokerage issued a neutral rating and a $28.00 price target on the stock.
A number of other research firms also recently issued reports on THC. Barclays set a $24.00 price objective on shares of Tenet Healthcare and gave the stock a hold rating in a report on Wednesday, April 17th. SunTrust Banks set a $24.00 price objective on shares of Tenet Healthcare and gave the stock a hold rating in a report on Wednesday, August 7th. TheStreet downgraded shares of Tenet Healthcare from a c rating to a d+ rating in a report on Monday, May 13th. Royal Bank of Canada reaffirmed a hold rating and set a $26.00 price objective on shares of Tenet Healthcare in a report on Sunday, August 11th. Finally, ValuEngine downgraded shares of Tenet Healthcare from a sell rating to a strong sell rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and an average price target of $28.62.
NYSE THC opened at $20.34 on Wednesday. Tenet Healthcare has a 52-week low of $16.60 and a 52-week high of $34.23. The company has a debt-to-equity ratio of 19.96, a quick ratio of 1.06 and a current ratio of 1.13. The company has a market capitalization of $2.02 billion, a P/E ratio of 10.94, a P/E/G ratio of 0.53 and a beta of 1.65. The company has a fifty day moving average of $20.29 and a 200-day moving average of $23.40.
In other Tenet Healthcare news, major shareholder Glenview Capital Management, L purchased 27,424 shares of the stock in a transaction on Friday, July 26th. The stock was acquired at an average cost of $20.99 per share, with a total value of $575,629.76. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 1,014,440 shares of company stock valued at $20,450,430 over the last three months. 1.50% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of THC. Norges Bank bought a new position in shares of Tenet Healthcare during the fourth quarter valued at about $23,500,000. BlackRock Inc. raised its stake in shares of Tenet Healthcare by 9.8% during the second quarter. BlackRock Inc. now owns 11,069,966 shares of the company’s stock valued at $228,706,000 after acquiring an additional 988,993 shares during the last quarter. Camber Capital Management LP raised its stake in shares of Tenet Healthcare by 42.9% during the second quarter. Camber Capital Management LP now owns 2,500,000 shares of the company’s stock valued at $51,650,000 after acquiring an additional 750,000 shares during the last quarter. FMR LLC raised its stake in shares of Tenet Healthcare by 64.3% during the fourth quarter. FMR LLC now owns 1,569,517 shares of the company’s stock valued at $26,902,000 after acquiring an additional 614,397 shares during the last quarter. Finally, APG Asset Management N.V. raised its stake in shares of Tenet Healthcare by 101.0% during the second quarter. APG Asset Management N.V. now owns 1,164,100 shares of the company’s stock valued at $21,119,000 after acquiring an additional 584,900 shares during the last quarter. 99.56% of the stock is owned by hedge funds and other institutional investors.
About Tenet Healthcare
Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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