Tenet Healthcare Corp (NYSE:THC) had its price target upped by analysts at Credit Suisse Group AG from $18.00 to $20.00 in a research report issued to clients and investors on Monday. The firm presently has a “neutral” rating on the stock. Credit Suisse Group AG’s target price would suggest a potential upside of 12.80% from the stock’s current price.
A number of other equities analysts also recently commented on THC. Zacks Investment Research upgraded Tenet Healthcare Corp from a “sell” rating to a “hold” rating in a report on Wednesday, May 3rd. Citigroup Inc dropped their price objective on Tenet Healthcare Corp from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday, March 6th. Royal Bank of Canada restated a “hold” rating and issued a $25.00 price objective on shares of Tenet Healthcare Corp in a report on Friday, March 3rd. Jefferies Group LLC restated a “buy” rating and issued a $26.00 price objective (down previously from $28.00) on shares of Tenet Healthcare Corp in a report on Saturday, April 29th. Finally, Mizuho upgraded Tenet Healthcare Corp from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $13.00 to $22.80 in a report on Friday, February 24th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $25.08.
Tenet Healthcare Corp (NYSE:THC) traded up 0.39% during midday trading on Monday, reaching $17.80. 325,086 shares of the company were exchanged. Tenet Healthcare Corp has a 52-week low of $14.06 and a 52-week high of $31.84. The firm’s 50-day moving average price is $17.04 and its 200 day moving average price is $17.36. The stock’s market capitalization is $1.79 billion.
Tenet Healthcare Corp (NYSE:THC) last released its quarterly earnings data on Monday, May 1st. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.25. Tenet Healthcare Corp had a positive return on equity of 12.75% and a negative net margin of 1.04%. The firm had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.84 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. The firm’s revenue was down 4.6% on a year-over-year basis. Equities analysts predict that Tenet Healthcare Corp will post $1.19 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in the stock. FNY Managed Accounts LLC bought a new position in shares of Tenet Healthcare Corp during the first quarter valued at approximately $109,000. Whitebox Advisors LLC acquired a new stake in Tenet Healthcare Corp during the first quarter valued at $2,355,000. DW Partners LP acquired a new stake in Tenet Healthcare Corp during the first quarter valued at $3,542,000. AQR Capital Management LLC boosted its stake in Tenet Healthcare Corp by 143.7% in the first quarter. AQR Capital Management LLC now owns 77,369 shares of the company’s stock valued at $1,370,000 after buying an additional 45,620 shares in the last quarter. Finally, BlueCrest Capital Management Ltd boosted its stake in Tenet Healthcare Corp by 32.1% in the first quarter. BlueCrest Capital Management Ltd now owns 15,928 shares of the company’s stock valued at $282,000 after buying an additional 3,869 shares in the last quarter.
About Tenet Healthcare Corp
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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