Tenet Healthcare Corporation (NYSE:THC) Receives Outperform Rating from Robert W. Baird
Tenet Healthcare Corporation (NYSE:THC)‘s stock had its “outperform” rating restated by equities researchers at Robert W. Baird in a research note issued on Thursday. They presently have a $23.00 target price on the stock. Robert W. Baird’s price objective would suggest a potential upside of 69.99% from the stock’s current price.
THC has been the subject of a number of other research reports. ValuEngine lowered shares of Tenet Healthcare Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Credit Suisse Group lifted their price objective on shares of Tenet Healthcare Corporation from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, May 5th. Jefferies Group LLC restated a “buy” rating and issued a $28.00 price target on shares of Tenet Healthcare Corporation in a report on Thursday, April 13th. Royal Bank Of Canada restated a “hold” rating and issued a $25.00 price target on shares of Tenet Healthcare Corporation in a report on Tuesday, July 18th. Finally, Mizuho restated a “neutral” rating and issued a $18.00 price target on shares of Tenet Healthcare Corporation in a report on Sunday, April 23rd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Tenet Healthcare Corporation currently has a consensus rating of “Hold” and a consensus target price of $23.20.
Tenet Healthcare Corporation (NYSE:THC) opened at 13.53 on Thursday. Tenet Healthcare Corporation has a 52 week low of $13.31 and a 52 week high of $27.85. The stock’s 50 day moving average is $18.76 and its 200 day moving average is $18.18. The company’s market capitalization is $1.36 billion. Tenet Healthcare Corporation also was the recipient of unusually large options trading activity on Monday. Stock traders purchased 14,690 put options on the stock. This represents an increase of approximately 974% compared to the typical volume of 1,368 put options.
Tenet Healthcare Corporation (NYSE:THC) last announced its quarterly earnings data on Monday, August 7th. The company reported ($0.17) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.17). Tenet Healthcare Corporation had a negative net margin of 0.97% and a negative return on equity of 1.98%. The company had revenue of $14.80 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same quarter last year, the business posted $0.38 EPS. The firm’s revenue for the quarter was up 204.1% on a year-over-year basis. On average, equities research analysts expect that Tenet Healthcare Corporation will post $1.12 earnings per share for the current year.
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Several hedge funds have recently added to or reduced their stakes in the stock. FNY Managed Accounts LLC purchased a new position in Tenet Healthcare Corporation during the first quarter valued at about $109,000. PNC Financial Services Group Inc. boosted its position in 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 valued at $117,000 after buying an additional 2,266 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in 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 valued at $126,000 after buying an additional 2,590 shares in the last quarter. First Mercantile Trust Co. boosted its position in Tenet Healthcare Corporation by 23.8% in the first quarter. First Mercantile Trust Co. now owns 9,900 shares of the company’s stock valued at $175,000 after buying an additional 1,900 shares in the last quarter. Finally, Advantus Capital Management Inc boosted its position in Tenet Healthcare Corporation by 3.2% in the first quarter. Advantus Capital Management Inc now owns 10,223 shares of the company’s stock valued at $181,000 after buying an additional 317 shares in the last quarter.
About Tenet Healthcare Corporation
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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