Tenet Healthcare (THC) Downgraded by ValuEngine

Tenet Healthcare (NYSE:THC) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Sunday.

A number of other equities research analysts have also weighed in on THC. Leerink Swann reaffirmed a “buy” rating and set a $27.00 price target on shares of Tenet Healthcare in a report on Wednesday, December 20th. Royal Bank of Canada reaffirmed a “hold” rating and set a $19.00 price target on shares of Tenet Healthcare in a report on Monday, September 25th. SunTrust Banks set a $15.00 price target on shares of Tenet Healthcare and gave the company a “hold” rating in a report on Sunday, October 15th. Robert W. Baird reaffirmed a “buy” rating and set a $23.00 price target on shares of Tenet Healthcare in a report on Thursday, September 28th. Finally, Morgan Stanley lowered shares of Tenet Healthcare from an “equal weight” rating to an “underweight” rating and set a $14.00 price target for the company. in a report on Wednesday, December 20th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $18.93.

Tenet Healthcare (THC) traded down $0.05 on Friday, reaching $15.16. 1,328,746 shares of the company were exchanged, compared to its average volume of 2,879,596. The firm has a market cap of $1,530.20, a price-to-earnings ratio of -2.75, a price-to-earnings-growth ratio of 3.67 and a beta of 1.17. Tenet Healthcare has a 1-year low of $12.25 and a 1-year high of $22.72. The company has a debt-to-equity ratio of 21.21, a quick ratio of 1.21 and a current ratio of 1.28.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Monday, November 6th. The company reported ($0.17) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.40) by $0.23. The business had revenue of $4.59 billion during the quarter, compared to analyst estimates of $4.94 billion. Tenet Healthcare had a negative net margin of 2.85% and a negative return on equity of 5.61%. The business’s revenue was down 5.4% on a year-over-year basis. During the same period last year, the business earned $0.16 EPS. analysts forecast that Tenet Healthcare will post 0.69 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Riverhead Capital Management LLC lifted its position in shares of Tenet Healthcare by 67.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 7,861 shares of the company’s stock worth $152,000 after buying an additional 3,161 shares during the last quarter. Flinton Capital Management LLC lifted its position in shares of Tenet Healthcare by 65.7% in the 2nd quarter. Flinton Capital Management LLC now owns 7,888 shares of the company’s stock worth $153,000 after buying an additional 3,128 shares during the last quarter. Pentwater Capital Management LP bought a new position in shares of Tenet Healthcare in the 3rd quarter worth about $164,000. Russell Investments Group Ltd. lifted its position in shares of Tenet Healthcare by 182.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 10,525 shares of the company’s stock worth $173,000 after buying an additional 6,800 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Tenet Healthcare in the 3rd quarter worth about $183,000.

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Tenet Healthcare Company Profile

Tenet Healthcare Corporation (Tenet) is a healthcare services company. The Company operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets in the United States. The Company’s segments include Hospital Operations and Other, Ambulatory Care and Conifer. As of December 31, 2016, its subsidiaries operated 79 hospitals, including three academic medical centers, two children’s hospitals, two specialty hospitals and one critical access hospital.

Analyst Recommendations for Tenet Healthcare (NYSE:THC)

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