Barclays Initiates Coverage on Tenet Healthcare (THC)
Barclays started coverage on shares of Tenet Healthcare (NYSE:THC) in a research report report published on Tuesday, MarketBeat.com reports. The brokerage issued an equal weight rating and a $35.00 target price on the stock.
THC has been the subject of several other reports. Zacks Investment Research cut shares of Tenet Healthcare from a buy rating to a hold rating in a research note on Monday, August 13th. JPMorgan Chase & Co. lifted their price target on shares of Tenet Healthcare from $22.00 to $28.00 and gave the company an underweight rating in a report on Friday, August 10th. SunTrust Banks reiterated a hold rating and issued a $27.00 price target on shares of Tenet Healthcare in a report on Tuesday, April 17th. ValuEngine lowered shares of Tenet Healthcare from a strong-buy rating to a buy rating in a report on Wednesday, June 27th. Finally, Mizuho reiterated a buy rating and issued a $35.00 price target on shares of Tenet Healthcare in a report on Wednesday, May 9th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. Tenet Healthcare has an average rating of Hold and an average price target of $30.24.
THC stock opened at $33.99 on Tuesday. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 41.96, a PEG ratio of 1.46 and a beta of 1.05. The company has a debt-to-equity ratio of 24.66, a current ratio of 1.08 and a quick ratio of 1.01. Tenet Healthcare has a one year low of $12.25 and a one year high of $39.74.
Several institutional investors and hedge funds have recently made changes to their positions in THC. NumerixS Investment Technologies Inc acquired a new position in shares of Tenet Healthcare during the 2nd quarter valued at $166,000. Advisors Preferred LLC acquired a new position in shares of Tenet Healthcare during the 2nd quarter valued at $163,000. Assetmark Inc. lifted its holdings in shares of Tenet Healthcare by 45.8% during the 2nd quarter. Assetmark Inc. now owns 5,093 shares of the company’s stock valued at $171,000 after acquiring an additional 1,601 shares in the last quarter. Vident Investment Advisory LLC acquired a new position in shares of Tenet Healthcare during the 2nd quarter valued at $207,000. Finally, LMR Partners LLP acquired a new position in shares of Tenet Healthcare during the 2nd quarter valued at $234,000.
About Tenet Healthcare
Tenet Healthcare Corporation operates as a diversified healthcare services company. It operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The company's general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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