Tenet Healthcare (THC) Trading Up 0%
Shares of Tenet Healthcare Corp (NYSE:THC) were up 0% during mid-day trading on Friday . The stock traded as high as $16.39 and last traded at $16.25. Approximately 5,470,000 shares traded hands during mid-day trading, an increase of 96% from the average daily volume of 2,790,000 shares. The stock had previously closed at $16.25.
Several analysts recently issued reports on THC shares. JPMorgan Chase & Co. lowered shares of Tenet Healthcare from a “neutral” rating to an “underweight” rating and set a $15.00 price objective on the stock. in a report on Thursday, December 14th. Jefferies Group restated a “buy” rating and issued a $24.00 price objective on shares of Tenet Healthcare in a report on Thursday, September 21st. Royal Bank of Canada reduced their price objective on shares of Tenet Healthcare from $19.00 to $17.00 and set a “sector perform” rating on the stock in a report on Monday, November 13th. SunTrust Banks set a $15.00 price objective on shares of Tenet Healthcare and gave the company a “hold” rating in a report on Sunday, October 15th. Finally, Leerink Swann restated a “buy” rating and issued a $27.00 price objective on shares of Tenet Healthcare in a report on Wednesday, December 20th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $18.50.
The company has a quick ratio of 1.21, a current ratio of 1.28 and a debt-to-equity ratio of 21.21. The stock has a market capitalization of $1,640.23, a P/E ratio of -2.95, a PEG ratio of 3.47 and a beta of 1.18.
Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Monday, November 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.23. The company had revenue of $4.59 billion for the quarter, compared to analyst estimates of $4.94 billion. Tenet Healthcare had a negative net margin of 2.85% and a negative return on equity of 5.61%. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.16 earnings per share. equities analysts forecast that Tenet Healthcare Corp will post 0.69 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. increased its stake in shares of Tenet Healthcare by 13.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 451,626 shares of the company’s stock worth $8,735,000 after buying an additional 54,494 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Tenet Healthcare by 6.9% during the second quarter. Bank of New York Mellon Corp now owns 1,113,140 shares of the company’s stock worth $21,528,000 after buying an additional 71,465 shares during the period. Comerica Bank increased its stake in shares of Tenet Healthcare by 1.6% during the second quarter. Comerica Bank now owns 62,852 shares of the company’s stock worth $1,327,000 after buying an additional 989 shares during the period. Prudential Financial Inc. increased its stake in shares of Tenet Healthcare by 9.5% during the second quarter. Prudential Financial Inc. now owns 53,835 shares of the company’s stock worth $1,041,000 after buying an additional 4,665 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Tenet Healthcare by 8.6% during the second quarter. Principal Financial Group Inc. now owns 342,967 shares of the company’s stock worth $6,633,000 after buying an additional 27,289 shares during the period.
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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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