Tenet Healthcare (NYSE:THC) Stock Rating Upgraded by Credit Suisse Group

Credit Suisse Group upgraded shares of Tenet Healthcare (NYSE:THC) from a neutral rating to an outperform rating in a research report report published on Wednesday, Briefing.com Automated Import reports. The firm currently has $36.00 price target on the stock, up from their prior price target of $25.00.

THC has been the topic of several other reports. Goldman Sachs Group started coverage on shares of Tenet Healthcare in a report on Wednesday, August 14th. They set a neutral rating and a $28.00 target price on the stock. Royal Bank of Canada reiterated a hold rating and set a $26.00 target price on shares of Tenet Healthcare in a report on Sunday, August 11th. ValuEngine lowered shares of Tenet Healthcare from a sell rating to a strong sell rating in a research report on Tuesday. Finally, SunTrust Banks set a $24.00 price target on shares of Tenet Healthcare and gave the company a hold rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $29.64.

Tenet Healthcare stock traded down $0.30 during midday trading on Wednesday, hitting $29.70. 1,383,065 shares of the company’s stock were exchanged, compared to its average volume of 1,500,061. The company has a debt-to-equity ratio of 30.38, a quick ratio of 1.06 and a current ratio of 1.22. Tenet Healthcare has a 12 month low of $16.60 and a 12 month high of $31.64. The firm has a 50-day moving average of $23.99 and a two-hundred day moving average of $21.88. The company has a market cap of $2.91 billion, a PE ratio of 15.97, a P/E/G ratio of 0.74 and a beta of 1.66.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Monday, November 4th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.30. Tenet Healthcare had a negative net margin of 1.31% and a positive return on equity of 35.68%. The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the prior year, the business earned $0.29 EPS. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, equities analysts expect that Tenet Healthcare will post 2.55 earnings per share for the current year.

In related news, major shareholder Glenview Capital Management, L acquired 173,235 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average cost of $21.09 per share, with a total value of $3,653,526.15. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Edward A. Kangas sold 45,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $20.28, for a total transaction of $912,600.00. Following the completion of the transaction, the director now directly owns 47,138 shares of the company’s stock, valued at $955,958.64. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 1,098,419 shares of company stock valued at $22,395,899. Insiders own 1.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Financial Architects Inc raised its position in shares of Tenet Healthcare by 41.6% in the 3rd quarter. Financial Architects Inc now owns 2,775 shares of the company’s stock valued at $61,000 after purchasing an additional 815 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its holdings in Tenet Healthcare by 23.8% in the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 29,497 shares of the company’s stock worth $652,000 after buying an additional 5,673 shares during the period. Letko Brosseau & Associates Inc. increased its holdings in Tenet Healthcare by 18.8% in the 3rd quarter. Letko Brosseau & Associates Inc. now owns 2,476,785 shares of the company’s stock worth $54,786,000 after buying an additional 391,475 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Tenet Healthcare by 12.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 152,124 shares of the company’s stock worth $3,365,000 after buying an additional 16,975 shares during the period. Finally, Mason Street Advisors LLC increased its holdings in Tenet Healthcare by 21.8% in the 3rd quarter. Mason Street Advisors LLC now owns 54,250 shares of the company’s stock worth $1,200,000 after buying an additional 9,723 shares during the period. 99.16% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Tenet Healthcare (NYSE:THC)

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