Tenet Healthcare Corporation (THC) Given New $17.00 Price Target at Royal Bank Of Canada

Tenet Healthcare Corporation (NYSE:THC) had its target price decreased by Royal Bank Of Canada from $19.00 to $17.00 in a report released on Monday, Marketbeat Ratings reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

THC has been the subject of several other research reports. Leerink Swann reiterated an outperform rating and issued a $30.00 target price (up previously from $23.00) on shares of Tenet Healthcare Corporation in a research report on Sunday, August 20th. Zacks Investment Research lowered Tenet Healthcare Corporation from a hold rating to a strong sell rating in a research report on Tuesday, September 19th. Robert W. Baird restated a buy rating and set a $23.00 price objective on shares of Tenet Healthcare Corporation in a research report on Thursday, September 28th. Citigroup Inc. restated a hold rating and set a $16.00 price objective on shares of Tenet Healthcare Corporation in a research report on Thursday, September 14th. Finally, Mizuho restated a neutral rating and set a $14.00 price objective on shares of Tenet Healthcare Corporation in a research report on Sunday, August 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Tenet Healthcare Corporation currently has an average rating of Hold and a consensus target price of $19.00.

Shares of Tenet Healthcare Corporation (THC) traded up $0.37 during midday trading on Monday, reaching $13.60. The company’s stock had a trading volume of 3,113,800 shares, compared to its average volume of 3,662,672. Tenet Healthcare Corporation has a 12-month low of $12.25 and a 12-month high of $22.72. The company has a quick ratio of 1.21, a current ratio of 1.28 and a debt-to-equity ratio of 21.21.

Tenet Healthcare Corporation (NYSE:THC) last issued its quarterly earnings data on Monday, November 6th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.23. Tenet Healthcare Corporation had a negative return on equity of 5.61% and a negative net margin of 2.85%. The firm had revenue of $4.59 billion during the quarter, compared to analyst estimates of $4.94 billion. During the same quarter last year, the firm earned $0.16 EPS. Tenet Healthcare Corporation’s quarterly revenue was down 5.4% on a year-over-year basis. equities analysts expect that Tenet Healthcare Corporation will post 0.7 earnings per share for the current fiscal year.

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Large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. lifted its position in shares of Tenet Healthcare Corporation by 52.1% in the first quarter. PNC Financial Services Group Inc. now owns 6,618 shares of the company’s stock worth $117,000 after buying an additional 2,266 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Tenet Healthcare Corporation by 57.4% in the first quarter. Nomura Asset Management Co. Ltd. now owns 7,100 shares of the company’s stock worth $126,000 after buying an additional 2,590 shares during the last quarter. Riverhead Capital Management LLC lifted its position in shares of Tenet Healthcare Corporation by 67.3% in the second quarter. Riverhead Capital Management LLC now owns 7,861 shares of the company’s stock worth $152,000 after buying an additional 3,161 shares during the last quarter. Flinton Capital Management LLC lifted its position in shares of Tenet Healthcare Corporation by 65.7% in the second quarter. Flinton Capital Management LLC now owns 7,888 shares of the company’s stock worth $153,000 after buying an additional 3,128 shares during the last quarter. Finally, Pentwater Capital Management LP acquired a new position in shares of Tenet Healthcare Corporation during the 3rd quarter worth about $164,000.

Tenet Healthcare Corporation 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.

Analyst Recommendations for Tenet Healthcare Corporation (NYSE:THC)

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