Leerink Swann Reaffirms “Buy” Rating for Tenet Healthcare (THC)
Leerink Swann restated their buy rating on shares of Tenet Healthcare (NYSE:THC) in a report issued on Wednesday morning. They currently have a $27.00 price objective on the stock. Leerink Swann also issued estimates for Tenet Healthcare’s Q1 2018 earnings at $0.47 EPS, Q2 2018 earnings at $0.28 EPS, Q3 2018 earnings at $0.24 EPS and Q4 2018 earnings at $0.30 EPS.
A number of other brokerages have also weighed in on THC. Deutsche Bank restated a buy rating and set a $24.00 price target on shares of Tenet Healthcare in a research note on Friday, September 1st. Mizuho reiterated a neutral rating and issued a $14.00 target price on shares of Tenet Healthcare in a research report on Thursday, September 14th. Robert W. Baird reiterated a buy rating and issued a $23.00 target price on shares of Tenet Healthcare in a research report on Thursday, August 24th. Royal Bank of Canada reiterated a hold rating and issued a $19.00 target price on shares of Tenet Healthcare in a research report on Monday, September 25th. Finally, Citigroup reiterated a hold rating and issued a $16.00 target price on shares of Tenet Healthcare in a research report on Thursday, September 14th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $18.93.
Shares of Tenet Healthcare (NYSE:THC) traded up $0.02 during mid-day trading on Wednesday, hitting $15.13. The stock had a trading volume of 966,977 shares, compared to its average volume of 3,485,711. 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 issued its quarterly earnings results on Monday, November 6th. The company reported ($0.17) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.23. Tenet Healthcare had a negative return on equity of 5.61% and a negative net margin of 2.85%. The business had revenue of $4.59 billion for the quarter, compared to analyst estimates of $4.94 billion. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The company’s revenue was down 5.4% on a year-over-year basis. sell-side analysts predict that Tenet Healthcare will post 0.69 EPS for the current year.
Large investors have recently made changes to their positions in the business. Riverhead Capital Management LLC lifted its holdings in Tenet Healthcare by 67.3% in the second quarter. Riverhead Capital Management LLC now owns 7,861 shares of the company’s stock valued at $152,000 after acquiring an additional 3,161 shares during the period. Flinton Capital Management LLC lifted its holdings in Tenet Healthcare by 65.7% in the second quarter. Flinton Capital Management LLC now owns 7,888 shares of the company’s stock valued at $153,000 after acquiring an additional 3,128 shares during the period. Pentwater Capital Management LP acquired a new position in Tenet Healthcare in the third quarter valued at approximately $164,000. Russell Investments Group Ltd. lifted its holdings in Tenet Healthcare by 182.6% in the third quarter. Russell Investments Group Ltd. now owns 10,525 shares of the company’s stock valued at $173,000 after acquiring an additional 6,800 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in Tenet Healthcare in the third 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.
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