Tenet Healthcare (THC) Downgraded by ValuEngine

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ValuEngine cut shares of Tenet Healthcare (NYSE:THC) from a hold rating to a sell rating in a report issued on Thursday morning, ValuEngine reports.

THC has been the subject of a number of other reports. Citigroup lifted their target price on Tenet Healthcare from $35.00 to $37.00 and gave the company a buy rating in a report on Wednesday, February 27th. Deutsche Bank began coverage on Tenet Healthcare in a report on Thursday, January 3rd. They issued a hold rating and a $20.00 target price for the company. Zacks Investment Research lowered Tenet Healthcare from a hold rating to a sell rating in a report on Thursday, January 10th. Barclays set a $24.00 target price on Tenet Healthcare and gave the company a hold rating in a report on Wednesday, April 17th. Finally, Stephens began coverage on Tenet Healthcare in a report on Monday, January 14th. They issued an equal weight rating and a $23.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. Tenet Healthcare has an average rating of Hold and an average price target of $30.94.

THC opened at $23.41 on Thursday. Tenet Healthcare has a 52 week low of $16.60 and a 52 week high of $39.74. The firm has a market cap of $2.41 billion, a PE ratio of 12.59, a PEG ratio of 0.45 and a beta of 1.83. The company has a quick ratio of 1.12, a current ratio of 1.20 and a debt-to-equity ratio of 21.32.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Monday, February 25th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.24 by $0.27. The business had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.50 billion. Tenet Healthcare had a return on equity of 30.43% and a net margin of 0.61%. The company’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period last year, the business posted $1.40 earnings per share. Equities research analysts predict that Tenet Healthcare will post 2.24 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. GWM Advisors LLC acquired a new stake in Tenet Healthcare in the fourth quarter valued at $201,000. GSA Capital Partners LLP raised its stake in Tenet Healthcare by 925.8% in the fourth quarter. GSA Capital Partners LLP now owns 85,951 shares of the company’s stock valued at $1,473,000 after buying an additional 77,572 shares in the last quarter. AQR Capital Management LLC raised its stake in Tenet Healthcare by 110.4% in the third quarter. AQR Capital Management LLC now owns 668,309 shares of the company’s stock valued at $19,020,000 after buying an additional 350,745 shares in the last quarter. Mackenzie Financial Corp raised its stake in Tenet Healthcare by 47.3% in the third quarter. Mackenzie Financial Corp now owns 263,187 shares of the company’s stock valued at $7,490,000 after buying an additional 84,537 shares in the last quarter. Finally, Flinton Capital Management LLC raised its stake in Tenet Healthcare by 3.6% in the fourth quarter. Flinton Capital Management LLC now owns 14,484 shares of the company’s stock valued at $248,000 after buying an additional 510 shares in the last quarter.

About Tenet Healthcare

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

Analyst Recommendations for Tenet Healthcare (NYSE:THC)

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