Tenet Healthcare (THC) Downgraded by ValuEngine to Sell

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

Other equities research analysts have also issued reports about the company. Robert W. Baird restated a buy rating and set a $35.00 price target on shares of Tenet Healthcare in a research report on Wednesday, November 7th. Zacks Investment Research raised Tenet Healthcare from a hold rating to a buy rating and set a $36.00 price objective on the stock in a report on Wednesday, August 8th. Mizuho set a $36.00 price objective on Tenet Healthcare and gave the stock a buy rating in a report on Tuesday, August 7th. Barclays began coverage on Tenet Healthcare in a report on Tuesday, August 14th. They set an equal weight rating and a $35.00 price objective on the stock. Finally, Piper Jaffray Companies reaffirmed a hold rating and set a $34.00 price objective on shares of Tenet Healthcare in a report on Wednesday, August 8th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. Tenet Healthcare presently has a consensus rating of Hold and a consensus target price of $31.13.

NYSE THC opened at $22.47 on Wednesday. The company has a market cap of $2.31 billion, a P/E ratio of 27.74, a price-to-earnings-growth ratio of 1.12 and a beta of 0.87. Tenet Healthcare has a one year low of $12.45 and a one year high of $39.74. The company has a debt-to-equity ratio of 21.55, a quick ratio of 0.99 and a current ratio of 1.06.

Tenet Healthcare (NYSE:THC) last released its quarterly 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. The business had revenue of $4.49 billion for 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 revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.17) EPS. Analysts forecast that Tenet Healthcare will post 1.61 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of THC. Vanguard Group Inc. lifted its holdings in Tenet Healthcare by 9.4% during the 3rd quarter. Vanguard Group Inc. now owns 11,496,136 shares of the company’s stock worth $327,180,000 after buying an additional 990,373 shares in the last quarter. Partner Fund Management L.P. lifted its stake in shares of Tenet Healthcare by 22.2% in 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 period. Morgan Stanley lifted its stake in shares of Tenet Healthcare by 165.3% in 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 period. Point72 Asset Management L.P. acquired a new position in shares of Tenet Healthcare in the 3rd quarter valued at $16,949,000. Finally, Hood River Capital Management LLC acquired a new position in shares of Tenet Healthcare in the 2nd quarter valued at $15,094,000.

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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Analyst Recommendations for Tenet Healthcare (NYSE:THC)

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