Brokerages Set Tenet Healthcare Corp (THC) Price Target at $19.00
Tenet Healthcare Corp (NYSE:THC) has been assigned an average rating of “Hold” from the eighteen analysts that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $18.92.
THC has been the topic of several analyst reports. Mizuho reissued a “neutral” rating and set a $14.00 target price on shares of Tenet Healthcare in a research report on Thursday, September 14th. JPMorgan Chase & Co. cut Tenet Healthcare from a “neutral” rating to an “underweight” rating and set a $15.00 price objective for the company. in a report on Thursday, December 14th. Jefferies Group restated a “buy” rating and set a $24.00 price objective on shares of Tenet Healthcare in a report on Thursday, September 21st. Royal Bank of Canada dropped their price objective on Tenet Healthcare from $19.00 to $17.00 and set a “sector perform” rating for the company in a report on Monday, November 13th. Finally, SunTrust Banks set a $15.00 price objective on Tenet Healthcare and gave the company a “hold” rating in a report on Sunday, October 15th.
A number of institutional investors and hedge funds have recently bought and sold shares of THC. King Street Capital Management L.P. purchased a new stake in shares of Tenet Healthcare in the 3rd quarter worth $31,217,000. Davidson Kempner Capital Management LP purchased a new stake in shares of Tenet Healthcare in the 2nd quarter worth $20,133,000. FMR LLC lifted its holdings in shares of Tenet Healthcare by 36.9% in the 2nd quarter. FMR LLC now owns 3,724,713 shares of the company’s stock worth $72,036,000 after buying an additional 1,004,700 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Tenet Healthcare by 25.0% in the 2nd quarter. Franklin Resources Inc. now owns 5,000,000 shares of the company’s stock worth $96,700,000 after buying an additional 1,000,000 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Tenet Healthcare by 38.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,141,658 shares of the company’s stock worth $41,420,000 after buying an additional 596,526 shares during the period.
Tenet Healthcare (NYSE:THC) last released its earnings results on Monday, November 6th. The company reported ($0.17) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.23. The firm had revenue of $4.59 billion for the quarter, compared to the consensus estimate of $4.94 billion. Tenet Healthcare had a negative return on equity of 5.61% and a negative net margin of 2.85%. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS. research analysts expect that Tenet Healthcare will post 0.69 EPS for the current fiscal year.
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About Tenet Healthcare
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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