Stock analysts at Deutsche Bank initiated coverage on shares of Tenet Healthcare (NYSE:THC) in a research report issued to clients and investors on Thursday, January 3rd, Marketbeat.com reports. The firm set a “hold” rating and a $20.00 price target on the stock. Deutsche Bank’s price target points to a potential downside of 7.79% from the stock’s previous close.
THC has been the topic of several other reports. ValuEngine upgraded shares of Tenet Healthcare from a “sell” rating to a “hold” rating in a research report on Tuesday, November 27th. Barclays restated a “hold” rating and set a $27.00 price target on shares of Tenet Healthcare in a report on Wednesday, November 7th. Zacks Investment Research cut shares of Tenet Healthcare from a “buy” rating to a “hold” rating in a report on Wednesday, October 10th. Robert W. Baird lowered shares of Tenet Healthcare from an “outperform” rating to a “neutral” rating in a research report on Monday, December 17th. Finally, Raymond James reissued a “buy” rating and set a $37.00 target price on shares of Tenet Healthcare in a research report on Monday, December 3rd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. Tenet Healthcare has a consensus rating of “Hold” and a consensus target price of $31.44.
NYSE THC opened at $21.69 on Thursday. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 26.78, a P/E/G ratio of 0.58 and a beta of 1.34. Tenet Healthcare has a 1 year low of $15.40 and a 1 year high of $39.74. The company has a current ratio of 1.06, a quick ratio of 0.99 and a debt-to-equity ratio of 21.55.
Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Monday, November 5th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.18. Tenet Healthcare had a positive return on equity of 47.38% and a negative net margin of 0.61%. The company had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter in the prior year, the company earned ($0.17) earnings per share. The firm’s revenue was down 2.1% on a year-over-year basis. As a group, analysts anticipate that Tenet Healthcare will post 1.61 EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Hong Kong Ltd bought a new stake in shares of Tenet Healthcare during the 3rd quarter worth about $110,000. NumerixS Investment Technologies Inc acquired a new stake in Tenet Healthcare in the 2nd quarter worth about $166,000. Vident Investment Advisory LLC acquired a new stake in Tenet Healthcare in the 2nd quarter worth about $207,000. Kentucky Retirement Systems acquired a new stake in Tenet Healthcare in the 3rd quarter worth about $345,000. Finally, GSA Capital Partners LLP acquired a new stake in Tenet Healthcare in the 3rd quarter worth about $238,000.
About Tenet Healthcare
Tenet Healthcare Corporation operates as a diversified healthcare services company. It operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The company's general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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