Mizuho reiterated their buy rating on shares of Tenet Healthcare (NYSE:THC) in a report issued on Thursday morning, LiveTradingNews reports.
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Several other equities research analysts have also recently weighed in on the company. ValuEngine cut Tenet Healthcare from a sell rating to a strong sell rating in a research note on Tuesday, November 5th. Goldman Sachs Group began coverage on Tenet Healthcare in a research note on Wednesday, August 14th. They issued a neutral rating and a $28.00 price target for the company. Credit Suisse Group raised Tenet Healthcare from a neutral rating to an outperform rating and increased their price target for the company from $25.00 to $36.00 in a research note on Wednesday. SunTrust Banks increased their price target on Tenet Healthcare from $24.00 to $31.00 and gave the company a hold rating in a research note on Wednesday. Finally, Robert W. Baird raised their target price on Tenet Healthcare from $27.00 to $30.00 and gave the stock a neutral rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $29.64.
Shares of THC stock traded down $0.30 on Thursday, hitting $29.70. The company had a trading volume of 1,383,065 shares, compared to its average volume of 1,500,061. The firm has a market cap of $2.91 billion, a P/E ratio of 15.97, a P/E/G ratio of 0.74 and a beta of 1.66. The stock’s 50-day moving average is $23.99 and its two-hundred day moving average is $21.88. 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 twelve month low of $16.60 and a twelve month high of $31.64.
Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.30. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Tenet Healthcare had a positive return on equity of 35.68% and a negative net margin of 1.31%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 earnings per share. Equities research analysts predict that Tenet Healthcare will post 2.55 EPS for the current year.
In other Tenet Healthcare news, Director Edward A. Kangas sold 45,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $20.28, for a total value of $912,600.00. Following the completion of the sale, the director now owns 47,138 shares of the company’s stock, valued at $955,958.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Glenview Capital Management, L acquired 221,875 shares of Tenet Healthcare stock in a transaction on Wednesday, October 2nd. The stock was purchased at an average cost of $20.50 per share, with a total value of $4,548,437.50. The disclosure for this purchase can be found here. Insiders have purchased 1,098,419 shares of company stock valued at $22,395,899 in the last ninety days. 1.50% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in THC. FMR LLC grew its stake in Tenet Healthcare by 13.7% in the first quarter. FMR LLC now owns 1,785,117 shares of the company’s stock valued at $51,483,000 after acquiring an additional 215,600 shares during the period. Investors Research Corp grew its stake in Tenet Healthcare by 4.0% in the second quarter. Investors Research Corp now owns 31,475 shares of the company’s stock valued at $650,000 after acquiring an additional 1,200 shares during the period. Hennessy Advisors Inc. acquired a new stake in Tenet Healthcare in the second quarter valued at approximately $1,973,000. First Hawaiian Bank grew its stake in Tenet Healthcare by 54.9% in the second quarter. First Hawaiian Bank now owns 17,120 shares of the company’s stock valued at $354,000 after acquiring an additional 6,070 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in Tenet Healthcare in the second quarter valued at approximately $303,000. 99.16% of the stock is owned by hedge funds and other institutional investors.
Tenet Healthcare Company Profile
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.