The Tenet Healthcare Corp. (THC) Decreased to Underperform at Mizuho

The Tenet Healthcare Corp. (THC) Decreased to Underperform at Mizuho

Mizuho cut shares of Tenet Healthcare Corp. (NYSE:THC) from a neutral rating to an underperform rating in a research note issued to investors on Tuesday morning. The brokerage currently has $13.00 target price on the stock.

A number of other equities research analysts have also issued reports on THC. Morgan Stanley reissued a hold rating and set a $38.00 price target on shares of Tenet Healthcare Corp. in a research note on Tuesday, August 2nd. Zacks Investment Research lowered Tenet Healthcare Corp. from a hold rating to a sell rating in a research note on Wednesday, August 3rd. Citigroup Inc. decreased their price target on Tenet Healthcare Corp. from $36.00 to $31.00 and set a neutral rating for the company in a research note on Thursday, August 4th. Barclays PLC reissued a buy rating and set a $39.00 price target on shares of Tenet Healthcare Corp. in a research note on Friday, August 19th. Finally, Leerink Swann reissued a market perform rating and set a $28.00 price target (down from $30.00) on shares of Tenet Healthcare Corp. in a research note on Sunday, September 4th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company. Tenet Healthcare Corp. currently has a consensus rating of Hold and an average target price of $30.69.

Shares of Tenet Healthcare Corp. (NYSE:THC) opened at 16.22 on Tuesday. The stock has a 50 day moving average price of $19.53 and a 200-day moving average price of $24.94. Tenet Healthcare Corp. has a 1-year low of $14.06 and a 1-year high of $35.35. The stock’s market capitalization is $1.62 billion.

Tenet Healthcare Corp. (NYSE:THC) last announced its earnings results on Monday, October 31st. The company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.01. The company earned $4.85 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Tenet Healthcare Corp. had a positive return on equity of 12.75% and a negative net margin of 1.04%. Tenet Healthcare Corp.’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 EPS. On average, analysts forecast that Tenet Healthcare Corp. will post $1.21 earnings per share for the current year.

In other news, Director Peter M. Wilver purchased 5,000 shares of the company’s stock in a transaction on Wednesday, November 9th. The shares were acquired at an average price of $15.19 per share, for a total transaction of $75,950.00. Following the purchase, the director now owns 5,000 shares in the company, valued at $75,950. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ronald A. Rittenmeyer purchased 15,000 shares of the company’s stock in a transaction on Friday, November 11th. The shares were purchased at an average price of $14.35 per share, for a total transaction of $215,250.00. Following the purchase, the director now owns 23,783 shares in the company, valued at approximately $341,286.05. The disclosure for this purchase can be found here. Corporate insiders own 2.90% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in Tenet Healthcare Corp. by 49.2% in the second quarter. Bank of New York Mellon Corp now owns 1,296,517 shares of the company’s stock valued at $35,837,000 after buying an additional 427,803 shares during the last quarter. Boston Private Wealth LLC increased its stake in Tenet Healthcare Corp. by 7.6% in the second quarter. Boston Private Wealth LLC now owns 39,510 shares of the company’s stock valued at $1,092,000 after buying an additional 2,775 shares during the last quarter. LMR Partners LLP purchased a new stake in Tenet Healthcare Corp. during the second quarter valued at $575,000. Essex Investment Management Co. LLC purchased a new stake in Tenet Healthcare Corp. during the second quarter valued at $291,000. Finally, Retirement Systems of Alabama increased its stake in Tenet Healthcare Corp. by 157.0% in the second quarter. Retirement Systems of Alabama now owns 128,098 shares of the company’s stock valued at $3,541,000 after buying an additional 78,248 shares during the last quarter.

Tenet Healthcare Corp. Company Profile

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