Brokerages Set Tenet Healthcare Corp (THC) PT at $31.21

Tenet Healthcare Corp (NYSE:THC) has received an average rating of “Hold” from the nineteen research firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $31.21.

Several analysts recently commented on the stock. Zacks Investment Research raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Thursday, October 4th. Raymond James reissued a “buy” rating and set a $37.00 price objective on shares of Tenet Healthcare in a research report on Monday, December 3rd. ValuEngine raised shares of Tenet Healthcare from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Robert W. Baird reaffirmed a “buy” rating and set a $35.00 price target on shares of Tenet Healthcare in a report on Wednesday, November 7th. Finally, Barclays reaffirmed a “hold” rating and set a $27.00 price target on shares of Tenet Healthcare in a report on Wednesday, November 7th.

Shares of Tenet Healthcare stock opened at $21.69 on Friday. The company has a debt-to-equity ratio of 21.55, a current ratio of 1.06 and a quick ratio of 0.99. The stock has a market capitalization of $2.15 billion, a P/E ratio of 26.78, a price-to-earnings-growth ratio of 0.58 and a beta of 1.34. Tenet Healthcare has a 1 year low of $15.40 and a 1 year high of $39.74.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Monday, November 5th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.18. The company had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.37 billion. Tenet Healthcare had a negative net margin of 0.61% and a positive return on equity of 47.38%. Tenet Healthcare’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period last year, the business earned ($0.17) EPS. Equities research analysts expect that Tenet Healthcare will post 1.61 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in THC. Russell Investments Group Ltd. purchased a new position in Tenet Healthcare during the second quarter worth $929,000. Fox Run Management L.L.C. purchased a new stake in shares of Tenet Healthcare during the third quarter valued at $483,000. Acadian Asset Management LLC boosted its stake in shares of Tenet Healthcare by 695.3% during the third quarter. Acadian Asset Management LLC now owns 332,691 shares of the company’s stock valued at $9,468,000 after purchasing an additional 290,861 shares during the period. Schroder Investment Management Group boosted its stake in shares of Tenet Healthcare by 48.6% during the third quarter. Schroder Investment Management Group now owns 62,894 shares of the company’s stock valued at $1,790,000 after purchasing an additional 20,581 shares during the period. Finally, Partner Fund Management L.P. boosted its stake in shares of Tenet Healthcare by 22.2% during the second quarter. Partner Fund Management L.P. now owns 4,336,946 shares of the company’s stock valued at $145,591,000 after purchasing an additional 786,785 shares during the period.

About Tenet Healthcare

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.

Further Reading: What are the reasons investors use put options?

Analyst Recommendations for Tenet Healthcare (NYSE:THC)

Receive News & Ratings for Tenet Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenet Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply