Today, Tenet Healthcare Corp. (THC) to Post FY2018 Earnings of $2.49 Per Share, Leerink Swann Forecasts

Today, Tenet Healthcare Corp. (THC) to Post FY2018 Earnings of $2.49 Per Share, Leerink Swann Forecasts

Tenet Healthcare Corp. (NYSE:THC) – Research analysts at Leerink Swann decreased their FY2018 earnings estimates for Tenet Healthcare Corp. in a research note issued on Wednesday. Leerink Swann analyst A. Gupte now forecasts that the brokerage will earn $2.49 per share for the year, down from their previous forecast of $2.77. Leerink Swann currently has a “Market Perform” rating and a $28.00 target price on the stock.

Other analysts have also recently issued research reports about the company. Zacks Investment Research raised Tenet Healthcare Corp. from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Tuesday, October 4th. Barclays PLC reaffirmed a “buy” rating and issued a $39.00 price target on shares of Tenet Healthcare Corp. in a report on Friday, August 19th. Morgan Stanley reaffirmed a “hold” rating and issued a $38.00 price target on shares of Tenet Healthcare Corp. in a report on Tuesday, August 2nd. Wolfe Research initiated coverage on Tenet Healthcare Corp. in a report on Tuesday, October 25th. They issued a “market perform” rating on the stock. Finally, Raymond James Financial Inc. cut Tenet Healthcare Corp. from an “outperform” rating to a “market perform” rating in a report on Thursday, November 10th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the stock. Tenet Healthcare Corp. currently has a consensus rating of “Hold” and an average price target of $30.69.

Tenet Healthcare Corp. (NYSE:THC) opened at 16.22 on Friday. Tenet Healthcare Corp. has a 52 week low of $14.06 and a 52 week high of $35.35. The firm has a 50-day moving average price of $19.53 and a 200 day moving average price of $24.94. The firm’s market capitalization is $1.62 billion.

In related news, Director Peter M. Wilver purchased 5,000 shares of Tenet Healthcare Corp. stock in a transaction that occurred on Wednesday, November 9th. The shares were acquired at an average cost of $15.19 per share, for a total transaction of $75,950.00. Following the transaction, the director now directly owns 5,000 shares in the company, valued at $75,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronald A. Rittenmeyer purchased 15,000 shares of Tenet Healthcare Corp. stock in a transaction that occurred on Friday, November 11th. The shares were bought at an average price of $14.35 per share, for a total transaction of $215,250.00. Following the completion of the transaction, the director now owns 23,783 shares in the company, valued at $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 institutional investors have recently bought and sold shares of THC. Bank of New York Mellon Corp raised its position 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 raised its position 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 bought a new position in Tenet Healthcare Corp. during the second quarter valued at about $575,000. Essex Investment Management Co. LLC bought a new position in Tenet Healthcare Corp. during the second quarter valued at about $291,000. Finally, Retirement Systems of Alabama raised its position 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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