Royal Bank Of Canada Cuts Tenet Healthcare (THC) Price Target to $17.00

Tenet Healthcare (NYSE:THC) had its target price lowered by Royal Bank Of Canada from $19.00 to $17.00 in a research report released on Monday, November 13th, MarketBeat reports. The brokerage currently has a sector perform rating on the stock.

A number of other research firms also recently weighed in on THC. Deutsche Bank reaffirmed a buy rating and set a $24.00 price target on shares of Tenet Healthcare in a research note on Friday, September 1st. Mizuho reaffirmed a neutral rating and set a $14.00 price target on shares of Tenet Healthcare in a research note on Thursday, September 14th. BidaskClub downgraded Tenet Healthcare from a hold rating to a sell rating in a research note on Saturday, August 5th. Jefferies Group reaffirmed a buy rating and set a $24.00 price target (down from $26.00) on shares of Tenet Healthcare in a research note on Tuesday, August 8th. Finally, Robert W. Baird reaffirmed a buy rating and set a $23.00 price target on shares of Tenet Healthcare in a research note on Thursday, August 24th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $19.00.

Shares of Tenet Healthcare (NYSE THC) traded down $0.60 during trading on Monday, reaching $13.50. The company had a trading volume of 3,800,000 shares, compared to its average volume of 3,690,000. The company has a debt-to-equity ratio of 21.21, a current ratio of 1.28 and a quick ratio of 1.21. Tenet Healthcare has a 1 year low of $12.25 and a 1 year high of $22.72.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Monday, November 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.23. Tenet Healthcare 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 the consensus estimate of $4.94 billion. During the same period in the prior year, the business earned $0.16 EPS. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. research analysts forecast that Tenet Healthcare will post 0.69 earnings per share for the current year.

Several hedge funds have recently modified their holdings of THC. PNC Financial Services Group Inc. raised its stake in shares of Tenet Healthcare by 52.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,618 shares of the company’s stock valued at $117,000 after acquiring an additional 2,266 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Tenet Healthcare by 57.4% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 7,100 shares of the company’s stock valued at $126,000 after acquiring an additional 2,590 shares in the last quarter. Riverhead Capital Management LLC raised its stake in shares of Tenet Healthcare by 67.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 7,861 shares of the company’s stock valued at $152,000 after acquiring an additional 3,161 shares in the last quarter. Flinton Capital Management LLC raised its stake in shares of Tenet Healthcare by 65.7% in the 2nd quarter. Flinton Capital Management LLC now owns 7,888 shares of the company’s stock valued at $153,000 after acquiring an additional 3,128 shares in the last quarter. Finally, Pentwater Capital Management LP bought a new position in shares of Tenet Healthcare in the 3rd quarter valued at approximately $164,000.

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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.

Analyst Recommendations for Tenet Healthcare (NYSE:THC)

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