Tenet Healthcare (THC) Coverage Initiated at Goldman Sachs Group

Stock analysts at Goldman Sachs Group assumed coverage on shares of Tenet Healthcare (NYSE:THC) in a research note issued on Wednesday. The firm set a “neutral” rating and a $15.00 price target on the stock. Goldman Sachs Group’s target price would suggest a potential downside of 2.34% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Credit Suisse Group began coverage on Tenet Healthcare in a report on Thursday, November 2nd. They set a “neutral” rating and a $15.00 price target for the company. Zacks Investment Research upgraded Tenet Healthcare from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. SunTrust Banks set a $15.00 price target on Tenet Healthcare and gave the company a “hold” rating in a report on Sunday, October 15th. William Blair restated a “market perform” rating on shares of Tenet Healthcare in a report on Tuesday, November 21st. Finally, Jefferies Group set a $20.00 price target on Tenet Healthcare and gave the company a “buy” rating in a report on Monday, October 30th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. Tenet Healthcare currently has an average rating of “Hold” and a consensus target price of $18.87.

Tenet Healthcare (NYSE THC) traded down $0.20 during trading hours on Wednesday, hitting $15.36. The company had a trading volume of 1,457,500 shares, compared to its average volume of 2,130,533. The stock has a market capitalization of $1,570.58, a PE ratio of -2.79, a P/E/G ratio of 2.14 and a beta of 1.18. The company has a debt-to-equity ratio of 21.21, a current ratio of 1.28 and a quick ratio of 1.21. Tenet Healthcare has a 12-month low of $12.25 and a 12-month high of $22.72.

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 consensus estimate of ($0.40) by $0.23. The business had revenue of $4.59 billion during the quarter, compared to analysts’ expectations of $4.94 billion. Tenet Healthcare had a negative return on equity of 5.61% and a negative net margin of 2.85%. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 EPS. research analysts predict that Tenet Healthcare will post 0.69 EPS for the current year.

Large investors have recently bought and sold shares of the company. Riverhead Capital Management LLC lifted its stake 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 valued at $152,000 after purchasing an additional 3,161 shares during the last quarter. Flinton Capital Management LLC lifted its stake 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 valued at $153,000 after purchasing an additional 3,128 shares during the last quarter. Pentwater Capital Management LP bought a new stake in shares of Tenet Healthcare in the 3rd quarter valued at approximately $164,000. Russell Investments Group Ltd. lifted its stake 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 valued at $173,000 after purchasing an additional 6,800 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Tenet Healthcare in the 3rd quarter valued at approximately $183,000.

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About Tenet Healthcare

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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