Tenet Healthcare Corp (NYSE:THC) Receives Average Recommendation of “Hold” from Brokerages

Shares of Tenet Healthcare Corp (NYSE:THC) have received an average recommendation of “Hold” from the fifteen brokerages that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $29.45.

Several analysts have weighed in on the company. Barclays set a $24.00 price target on Tenet Healthcare and gave the company a “hold” rating in a report on Wednesday, April 17th. SunTrust Banks raised their price target on Mcdonald’s to $230.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. TheStreet raised White Mountains Insurance Group from a “c” rating to a “b” rating in a report on Monday, May 13th. Finally, ValuEngine cut Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st.

Several hedge funds have recently modified their holdings of THC. Norges Bank bought a new stake in shares of Tenet Healthcare in the 4th quarter worth approximately $23,500,000. FMR LLC boosted its position in shares of Tenet Healthcare by 64.3% during the fourth quarter. FMR LLC now owns 1,569,517 shares of the company’s stock valued at $26,902,000 after purchasing an additional 614,397 shares in the last quarter. Orbimed Advisors LLC bought a new stake in shares of Tenet Healthcare during the fourth quarter valued at approximately $9,646,000. Acadian Asset Management LLC boosted its position in shares of Tenet Healthcare by 72.7% during the first quarter. Acadian Asset Management LLC now owns 1,074,895 shares of the company’s stock valued at $30,997,000 after purchasing an additional 452,346 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Tenet Healthcare by 41.6% during the fourth quarter. Deutsche Bank AG now owns 1,080,533 shares of the company’s stock valued at $18,519,000 after purchasing an additional 317,432 shares in the last quarter. Hedge funds and other institutional investors own 99.16% of the company’s stock.

THC traded up $0.35 during trading on Friday, reaching $19.48. 1,168,832 shares of the company were exchanged, compared to its average volume of 1,506,029. The company has a 50-day simple moving average of $20.56. The stock has a market cap of $1.96 billion, a P/E ratio of 10.49, a price-to-earnings-growth ratio of 0.35 and a beta of 1.59. The company has a debt-to-equity ratio of 21.98, a quick ratio of 1.15 and a current ratio of 1.23. Tenet Healthcare has a 12-month low of $16.60 and a 12-month high of $39.74.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Monday, April 29th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.25. Tenet Healthcare had a positive return on equity of 29.29% and a negative net margin of 0.04%. The business had revenue of $4.55 billion for the quarter, compared to analysts’ expectations of $4.51 billion. During the same quarter in the prior year, the firm posted $0.57 EPS. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. Equities analysts predict that Tenet Healthcare will post 2.33 earnings per share for the current year.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

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Analyst Recommendations for Tenet Healthcare (NYSE:THC)

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