Tenet Healthcare (NYSE:THC) was downgraded by analysts at JPMorgan Chase & Co. from a „neutral” rating to an „underweight” rating in a report released on Monday, Briefing.com reports. They presently have a $20.00 price target on the stock. JPMorgan Chase & Co.’s price objective indicates a potential downside of 29.15% from the stock’s current price.
THC has been the subject of a number of other research reports. Deutsche Bank lifted their price objective on Tenet Healthcare from $25.00 to $28.00 and gave the stock a „hold” rating in a research report on Wednesday, August 5th. ValuEngine upgraded Tenet Healthcare from a „sell” rating to a „hold” rating in a research report on Monday, August 3rd. Truist lifted their price target on Tenet Healthcare from $21.00 to $30.00 in a report on Friday, August 14th. Credit Suisse Group restated a „buy” rating on shares of Tenet Healthcare in a report on Tuesday, August 4th. Finally, Royal Bank of Canada lifted their price target on Tenet Healthcare from $30.00 to $35.00 in a report on Friday, September 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five 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 $28.00.
Shares of THC stock opened at $28.23 on Monday. Tenet Healthcare has a fifty-two week low of $10.00 and a fifty-two week high of $39.37. The stock has a market cap of $2.98 billion, a P/E ratio of -55.35, a P/E/G ratio of 4.43 and a beta of 2.46. The business has a fifty day simple moving average of $28.49 and a 200-day simple moving average of $22.06. The company has a quick ratio of 1.36, a current ratio of 1.42 and a debt-to-equity ratio of 24.85.
Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Monday, August 3rd. The company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $1.97. The business had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Tenet Healthcare had a positive return on equity of 82.35% and a negative net margin of 0.28%. The business’s revenue for the quarter was down 20.0% on a year-over-year basis. During the same quarter last year, the business posted $0.65 earnings per share. On average, sell-side analysts anticipate that Tenet Healthcare will post 3.85 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC acquired a new position in shares of Tenet Healthcare in the 2nd quarter valued at about $26,000. Rosenberg Matthew Hamilton acquired a new position in Tenet Healthcare during the 2nd quarter worth approximately $36,000. PNC Financial Services Group Inc. lifted its position in Tenet Healthcare by 62.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the company’s stock worth $37,000 after acquiring an additional 787 shares in the last quarter. Stonebridge Capital Advisors LLC acquired a new position in Tenet Healthcare during the 1st quarter worth approximately $46,000. Finally, Advisor Group Holdings Inc. acquired a new position in Tenet Healthcare during the 1st quarter worth approximately $57,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.
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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