Tenet Healthcare (THC) Rating Lowered to Sell at ValuEngine

ValuEngine downgraded shares of Tenet Healthcare (NYSE:THC) from a hold rating to a sell rating in a research report released on Thursday, April 18th, ValuEngine reports.

A number of other brokerages also recently commented on THC. Raymond James lifted their target price on shares of Tenet Healthcare from $37.00 to $47.00 in a research note on Wednesday, February 27th. Bank of America restated a neutral rating and issued a $30.00 price objective (up previously from $21.00) on shares of Tenet Healthcare in a report on Tuesday, February 26th. Citigroup boosted their price target on shares of Tenet Healthcare from $35.00 to $37.00 and gave the stock a buy rating in a report on Wednesday, February 27th. Barclays set a $24.00 price target on shares of Tenet Healthcare and gave the stock a hold rating in a report on Wednesday, April 17th. Finally, Zacks Investment Research cut shares of Tenet Healthcare from a buy rating to a hold rating in a report on Wednesday, January 16th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $30.07.

THC stock traded down $0.37 during mid-day trading on Thursday, reaching $20.59. The company had a trading volume of 1,515,360 shares, compared to its average volume of 2,058,666. The company has a market capitalization of $2.16 billion, a P/E ratio of 11.07, a P/E/G ratio of 0.39 and a beta of 1.68. Tenet Healthcare has a 12 month low of $16.60 and a 12 month high of $39.74. The company has a debt-to-equity ratio of 21.98, a current ratio of 1.23 and a quick ratio of 1.15.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Monday, April 29th. The company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.25. The company had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.51 billion. Tenet Healthcare had a negative net margin of 0.04% and a positive return on equity of 29.29%. The firm’s revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the business earned $0.57 earnings per share. On average, research analysts expect that Tenet Healthcare will post 2.32 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in THC. PNC Financial Services Group Inc. grew its stake in shares of Tenet Healthcare by 101.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,351 shares of the company’s stock worth $38,000 after purchasing an additional 682 shares during the period. Financial Gravity Wealth Inc. acquired a new position in shares of Tenet Healthcare during the 1st quarter worth $51,000. Enlightenment Research LLC acquired a new position in shares of Tenet Healthcare during the 4th quarter worth $36,000. Pearl River Capital LLC acquired a new position in shares of Tenet Healthcare during the 4th quarter worth $41,000. Finally, Bessemer Group Inc. grew its stake in shares of Tenet Healthcare by 346.3% during the 4th quarter. Bessemer Group Inc. now owns 3,325 shares of the company’s stock worth $57,000 after purchasing an additional 2,580 shares during the period.

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.

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Analyst Recommendations for Tenet Healthcare (NYSE:THC)

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