Tenet Healthcare Corporation (THC) Stock Rating Reaffirmed by Citigroup Inc.
Tenet Healthcare Corporation (NYSE:THC)‘s stock had its “hold” rating reiterated by investment analysts at Citigroup Inc. in a note issued to investors on Thursday. They presently have a $16.00 target price on the stock. Citigroup Inc.’s target price indicates a potential downside of 4.36% from the company’s current price.
Other research analysts also recently issued research reports about the stock. Deutsche Bank AG reaffirmed a “buy” rating and issued a $24.00 price target (down previously from $28.00) on shares of Tenet Healthcare Corporation in a report on Thursday, August 10th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $24.00 price target (down previously from $26.00) on shares of Tenet Healthcare Corporation in a report on Tuesday, August 8th. Robert W. Baird reaffirmed a “buy” rating and issued a $23.00 price target on shares of Tenet Healthcare Corporation in a report on Thursday, August 24th. Morgan Stanley started coverage on shares of Tenet Healthcare Corporation in a report on Tuesday, June 6th. They issued an “equal weight” rating and a $19.00 price target for the company. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $25.00 price target on shares of Tenet Healthcare Corporation in a report on Tuesday, July 18th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $21.43.
Shares of Tenet Healthcare Corporation (NYSE THC) opened at 16.73 on Thursday. Tenet Healthcare Corporation has a 52-week low of $12.54 and a 52-week high of $24.13. The stock’s market cap is $1.69 billion. The firm’s 50-day moving average price is $16.08 and its 200-day moving average price is $17.53.
Tenet Healthcare Corporation (NYSE:THC) last released its quarterly earnings data on Monday, August 7th. The company reported ($0.17) EPS for the quarter, meeting the consensus estimate of ($0.17). Tenet Healthcare Corporation had a negative net margin of 0.97% and a negative return on equity of 2.00%. The business had revenue of $14.80 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The business’s revenue was up 204.1% on a year-over-year basis. Equities analysts predict that Tenet Healthcare Corporation will post $0.82 EPS for the current year.
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A number of hedge funds have recently modified their holdings of the stock. Davidson Kempner Capital Management LP purchased a new position in Tenet Healthcare Corporation during the second quarter valued at approximately $20,133,000. Archford Capital Strategies LLC boosted its stake in Tenet Healthcare Corporation by 135,247.1% in the second quarter. Archford Capital Strategies LLC now owns 23,009 shares of the company’s stock valued at $1,195,000 after acquiring an additional 22,992 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Tenet Healthcare Corporation in the second quarter valued at approximately $267,000. Proxima Capital Management LLC boosted its stake in Tenet Healthcare Corporation by 8.3% in the second quarter. Proxima Capital Management LLC now owns 103,939 shares of the company’s stock valued at $2,010,000 after acquiring an additional 8,000 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in Tenet Healthcare Corporation by 29.6% in the second quarter. Ameritas Investment Partners Inc. now owns 31,287 shares of the company’s stock valued at $605,000 after acquiring an additional 7,138 shares in the last quarter.
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.
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