Jefferies Group LLC Reaffirms Buy Rating for Tenet Healthcare Corporation (THC)
Jefferies Group LLC reaffirmed their buy rating on shares of Tenet Healthcare Corporation (NYSE:THC) in a research note released on Thursday morning. They currently have a $24.00 price objective on the stock.
A number of other research analysts have also commented on the company. Deutsche Bank AG reiterated a buy rating and set a $24.00 price target on shares of Tenet Healthcare Corporation in a report on Friday, September 1st. Zacks Investment Research upgraded Tenet Healthcare Corporation from a hold rating to a strong-buy rating and set a $21.00 price target for the company in a report on Monday, July 10th. Royal Bank Of Canada reiterated a hold rating and set a $25.00 price target on shares of Tenet Healthcare Corporation in a report on Tuesday, July 18th. ValuEngine lowered Tenet Healthcare Corporation from a hold rating to a sell rating in a report on Friday, June 2nd. Finally, Robert W. Baird reiterated a buy rating and set a $23.00 price target on shares of Tenet Healthcare Corporation in a report on Thursday, August 24th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. The company has an average rating of Hold and a consensus price target of $21.43.
Shares of Tenet Healthcare Corporation (NYSE THC) opened at 16.32 on Thursday. The company’s market cap is $1.65 billion. Tenet Healthcare Corporation has a 52 week low of $12.54 and a 52 week high of $24.13. The company has a 50 day moving average of $15.97 and a 200-day moving average of $17.44.
Tenet Healthcare Corporation (NYSE:THC) last issued its quarterly earnings results on Monday, August 7th. The company reported ($0.17) EPS for the quarter, hitting analysts’ consensus estimates of ($0.17). Tenet Healthcare Corporation had a negative return on equity of 2.00% and a negative net margin of 0.97%. The company had revenue of $14.80 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same period in the previous year, the company earned $0.38 earnings per share. The company’s quarterly revenue was up 204.1% compared to the same quarter last year. On average, equities research analysts expect that Tenet Healthcare Corporation will post $0.82 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in the business. Davidson Kempner Capital Management LP bought a new stake in Tenet Healthcare Corporation in the second quarter valued at $20,133,000. Archford Capital Strategies LLC grew its position in Tenet Healthcare Corporation by 135,247.1% in the second quarter. Archford Capital Strategies LLC now owns 23,009 shares of the company’s stock valued at $1,195,000 after acquiring an additional 22,992 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Tenet Healthcare Corporation in the second quarter valued at $267,000. Proxima Capital Management LLC grew its position in Tenet Healthcare Corporation by 8.3% in the second quarter. Proxima Capital Management LLC now owns 103,939 shares of the company’s stock valued at $2,010,000 after acquiring an additional 8,000 shares during the period. Finally, Ameritas Investment Partners Inc. grew its position in Tenet Healthcare Corporation by 29.6% in the second quarter. Ameritas Investment Partners Inc. now owns 31,287 shares of the company’s stock valued at $605,000 after acquiring an additional 7,138 shares during the period.
Tenet Healthcare Corporation 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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