Tenet Healthcare (THC) Cut to “Sell” at ValuEngine

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

A number of other brokerages have also recently commented on THC. JPMorgan Chase & Co. raised their target price on Tenet Healthcare from $22.00 to $28.00 and gave the stock an underweight rating in a report on Friday, August 10th. SunTrust Banks reaffirmed a hold rating and issued a $35.00 target price on shares of Tenet Healthcare in a report on Wednesday, August 8th. Citigroup raised their target price on Tenet Healthcare from $37.00 to $44.00 and gave the stock a buy rating in a report on Monday, July 23rd. Zacks Investment Research raised Tenet Healthcare from a hold rating to a buy rating and set a $36.00 target price on the stock in a report on Tuesday, August 14th. Finally, Mizuho set a $36.00 target price on Tenet Healthcare and gave the stock a buy rating in a report on Tuesday, August 7th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $30.56.

Tenet Healthcare stock traded down $0.16 during trading on Wednesday, reaching $26.48. The company had a trading volume of 56,325 shares, compared to its average volume of 1,391,989. Tenet Healthcare has a 52 week low of $12.45 and a 52 week high of $39.74. The stock has a market cap of $2.53 billion, a P/E ratio of 32.81, a P/E/G ratio of 1.12 and a beta of 0.87. The company has a debt-to-equity ratio of 21.55, a quick ratio of 1.01 and a current ratio of 1.06.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Monday, November 5th. The company reported $0.29 EPS for the quarter, topping the Zacks’ 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 period last year, the firm earned ($0.17) EPS. Tenet Healthcare’s revenue for the quarter was down 2.1% compared to the same quarter last year. Analysts predict that Tenet Healthcare will post 1.69 EPS for the current year.

A number of large investors have recently bought and sold shares of THC. Partner Fund Management L.P. raised its holdings in Tenet Healthcare by 22.2% during the second quarter. Partner Fund Management L.P. now owns 4,336,946 shares of the company’s stock valued at $145,591,000 after acquiring an additional 786,785 shares during the period. Morgan Stanley raised its holdings in Tenet Healthcare by 165.3% during the second quarter. Morgan Stanley now owns 1,167,972 shares of the company’s stock valued at $39,208,000 after acquiring an additional 727,713 shares during the period. Hood River Capital Management LLC bought a new stake in Tenet Healthcare during the second quarter valued at about $15,094,000. Acadian Asset Management LLC raised its holdings in Tenet Healthcare by 695.3% during the third quarter. Acadian Asset Management LLC now owns 332,691 shares of the company’s stock valued at $9,468,000 after acquiring an additional 290,861 shares during the period. Finally, Castleark Management LLC bought a new stake in Tenet Healthcare during the second quarter valued at about $8,898,000.

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.

See Also: Return on Investment (ROI)

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

Analyst Recommendations for Tenet Healthcare (NYSE:THC)

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