Tenet Healthcare (NYSE:THC) Coverage Initiated by Analysts at Deutsche Bank

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.

Recommended Story: Why Dividend Stocks May Be Right for You

Analyst Recommendations for Tenet Healthcare (NYSE:THC)

Receive News & Ratings for Tenet Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenet Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply