Tenet Healthcare (THC) Rating Reiterated by Robert W. Baird

Tenet Healthcare (NYSE:THC)‘s stock had its “buy” rating reissued by stock analysts at Robert W. Baird in a report released on Wednesday. They presently have a $35.00 price target on the stock. Robert W. Baird’s price target would suggest a potential upside of 32.88% from the company’s current price.

A number of other brokerages have also recently commented on THC. Citigroup raised their price target on shares of Tenet Healthcare from $37.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, July 23rd. Zacks Investment Research upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Tuesday, August 14th. Barclays initiated coverage on shares of Tenet Healthcare in a research note on Tuesday, August 14th. They issued an “equal weight” rating and a $35.00 target price for the company. JPMorgan Chase & Co. lifted their target price on shares of Tenet Healthcare from $22.00 to $28.00 and gave the company an “underweight” rating in a research note on Friday, August 10th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $34.00 target price on shares of Tenet Healthcare in a research note on Wednesday, August 8th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $30.56.

Shares of THC opened at $26.34 on Wednesday. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 32.52, a price-to-earnings-growth ratio of 1.12 and a beta of 0.87. The company has a debt-to-equity ratio of 21.55, a current ratio of 1.06 and a quick ratio of 1.01. Tenet Healthcare has a 12 month low of $12.45 and a 12 month high of $39.74.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Monday, November 5th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.18. The firm had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.37 billion. Tenet Healthcare had a negative net margin of 0.61% and a positive return on equity of 47.38%. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.17) earnings per share. As a group, sell-side analysts anticipate that Tenet Healthcare will post 1.66 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the company. Advisors Preferred LLC bought a new position in Tenet Healthcare in the 2nd quarter worth approximately $163,000. NumerixS Investment Technologies Inc bought a new position in Tenet Healthcare in the 2nd quarter worth approximately $166,000. Assetmark Inc. raised its position in Tenet Healthcare by 45.8% in the 2nd quarter. Assetmark Inc. now owns 5,093 shares of the company’s stock worth $171,000 after purchasing an additional 1,601 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in Tenet Healthcare by 286.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 7,700 shares of the company’s stock worth $187,000 after purchasing an additional 5,705 shares during the last quarter. Finally, Vident Investment Advisory LLC bought a new position in Tenet Healthcare in the 2nd quarter worth approximately $207,000.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation operates as a diversified healthcare services company. It operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The company's general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

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Analyst Recommendations for Tenet Healthcare (NYSE:THC)

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