Tenet Healthcare (THC) Downgraded by ValuEngine to “Sell”

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ValuEngine cut shares of Tenet Healthcare (NYSE:THC) from a hold rating to a sell rating in a report published on Wednesday.

Other research analysts have also issued research reports about the company. Zacks Investment Research lowered Tenet Healthcare from a buy rating to a hold rating in a research report on Wednesday, October 10th. Piper Jaffray Companies reissued a hold rating and issued a $34.00 target price on shares of Tenet Healthcare in a research report on Wednesday, August 8th. Mizuho set a $36.00 target price on Tenet Healthcare and gave the stock a buy rating in a research report on Tuesday, August 7th. Barclays assumed coverage on Tenet Healthcare in a research report on Tuesday, August 14th. They issued an equal weight rating and a $35.00 target price for the company. Finally, Citigroup increased their target price on Tenet Healthcare from $37.00 to $44.00 and gave the stock a buy rating in a research report on Monday, July 23rd. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company’s stock. Tenet Healthcare currently has a consensus rating of Hold and an average price target of $30.56.

THC traded down $0.16 during midday trading on Wednesday, reaching $26.48. 56,325 shares of the company’s stock traded hands, compared to its average volume of 1,391,989. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 32.81, a PEG ratio of 1.12 and a beta of 0.87. The company has a debt-to-equity ratio of 21.55, a current ratio of 1.06 and a quick ratio of 1.01. Tenet Healthcare has a 52 week low of $12.45 and a 52 week high of $39.74.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Monday, November 5th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.18. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.37 billion. Tenet Healthcare had a positive return on equity of 47.38% and a negative net margin of 0.61%. Tenet Healthcare’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.17) EPS. As a group, sell-side analysts expect that Tenet Healthcare will post 1.69 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Partner Fund Management L.P. boosted its stake in Tenet Healthcare by 22.2% during the 2nd quarter. Partner Fund Management L.P. now owns 4,336,946 shares of the company’s stock valued at $145,591,000 after purchasing an additional 786,785 shares during the last quarter. Morgan Stanley boosted its stake in Tenet Healthcare by 165.3% during the 2nd quarter. Morgan Stanley now owns 1,167,972 shares of the company’s stock valued at $39,208,000 after purchasing an additional 727,713 shares during the last quarter. Hood River Capital Management LLC purchased a new stake in Tenet Healthcare during the 2nd quarter valued at $15,094,000. Acadian Asset Management LLC boosted its stake in Tenet Healthcare by 695.3% during the 3rd quarter. Acadian Asset Management LLC now owns 332,691 shares of the company’s stock valued at $9,468,000 after purchasing an additional 290,861 shares during the last quarter. Finally, Castleark Management LLC purchased a new stake in Tenet Healthcare during the 2nd quarter valued at $8,898,000.

Tenet Healthcare Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Tenet Healthcare (NYSE:THC)

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