Tenet Healthcare (THC) Trading Up -0.3%
Tenet Healthcare Corp (NYSE:THC) shares were up 0.3% during mid-day trading on Tuesday . The stock traded as high as $16.06 and last traded at $15.16. Approximately 1,328,700 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 3,577,853 shares. The stock had previously closed at $15.21.
Several research analysts have recently issued reports on THC shares. Jefferies Group reissued a “buy” rating and issued a $24.00 price target on shares of Tenet Healthcare in a research note on Thursday, September 21st. Robert W. Baird reissued a “buy” rating and issued a $23.00 price target on shares of Tenet Healthcare in a research note on Thursday, September 28th. Citigroup raised Tenet Healthcare from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 12th. Leerink Swann reissued a “buy” rating and issued a $27.00 price target on shares of Tenet Healthcare in a research note on Wednesday, December 20th. Finally, Morgan Stanley decreased their target price on Tenet Healthcare from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, November 9th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $18.87.
The company has a current ratio of 1.28, a quick ratio of 1.21 and a debt-to-equity ratio of 21.21. The stock has a market capitalization of $1,570.00, a PE ratio of -2.83, a price-to-earnings-growth ratio of 2.20 and a beta of 1.17.
Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Monday, November 6th. The company reported ($0.17) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.40) by $0.23. Tenet Healthcare had a negative return on equity of 5.61% and a negative net margin of 2.85%. The business had revenue of $4.59 billion during the quarter, compared to analyst estimates of $4.94 billion. During the same quarter last year, the company posted $0.16 EPS. Tenet Healthcare’s revenue for the quarter was down 5.4% on a year-over-year basis. sell-side analysts anticipate that Tenet Healthcare Corp will post 0.69 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the stock. Riverhead Capital Management LLC lifted its stake in Tenet Healthcare by 67.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 7,861 shares of the company’s stock worth $152,000 after acquiring an additional 3,161 shares in the last quarter. Flinton Capital Management LLC lifted its stake in Tenet Healthcare by 65.7% in the 2nd quarter. Flinton Capital Management LLC now owns 7,888 shares of the company’s stock worth $153,000 after acquiring an additional 3,128 shares in the last quarter. Pentwater Capital Management LP purchased a new stake in Tenet Healthcare in the 3rd quarter worth about $164,000. Russell Investments Group Ltd. lifted its stake in Tenet Healthcare by 182.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 10,525 shares of the company’s stock worth $173,000 after acquiring an additional 6,800 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in Tenet Healthcare in the 3rd quarter worth about $183,000.
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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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