Latest Stocks: ValuEngine Downgrades Tenet Healthcare Corp (THC) to Sell

Latest Stocks: ValuEngine Downgrades Tenet Healthcare Corp (THC) to Sell

Tenet Healthcare Corp (NYSE:THC) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Friday.

THC has been the subject of several other reports. Zacks Investment Research lowered Tenet Healthcare Corp from a “hold” rating to a “strong sell” rating in a report on Thursday, March 9th. Mizuho raised Tenet Healthcare Corp from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $13.00 to $22.80 in a report on Friday, February 24th. Deutsche Bank AG began coverage on Tenet Healthcare Corp in a report on Tuesday, April 4th. They issued a “buy” rating and a $28.00 price target for the company. Royal Bank of Canada reaffirmed a “hold” rating and issued a $25.00 price target on shares of Tenet Healthcare Corp in a report on Friday, March 3rd. Finally, Jefferies Group LLC cut their price target on Tenet Healthcare Corp from $36.00 to $28.00 and set a “buy” rating for the company in a report on Monday, February 6th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. Tenet Healthcare Corp currently has a consensus rating of “Hold” and an average price target of $25.08.

Tenet Healthcare Corp (NYSE:THC) opened at 16.67 on Friday. The firm has a 50-day moving average price of $16.92 and a 200 day moving average price of $17.35. Tenet Healthcare Corp has a one year low of $14.06 and a one year high of $31.84. The firm’s market capitalization is $1.68 billion.

Tenet Healthcare Corp (NYSE:THC) last announced its quarterly earnings data on Monday, May 1st. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.25. Tenet Healthcare Corp had a positive return on equity of 12.75% and a negative net margin of 1.04%. The business had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.84 billion. During the same period in the prior year, the company earned $0.45 earnings per share. Tenet Healthcare Corp’s revenue was down 4.6% compared to the same quarter last year. Analysts anticipate that Tenet Healthcare Corp will post $1.19 EPS for the current fiscal year.

Several large investors have recently modified their holdings of THC. Menta Capital LLC increased its stake in shares of Tenet Healthcare Corp by 80.3% in the fourth quarter. Menta Capital LLC now owns 90,920 shares of the company’s stock worth $1,349,000 after buying an additional 40,500 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Tenet Healthcare Corp during the fourth quarter worth about $19,676,000. Rudman Errol M increased its stake in shares of Tenet Healthcare Corp by 1,602.5% in the fourth quarter. Rudman Errol M now owns 200,900 shares of the company’s stock worth $2,981,000 after buying an additional 189,100 shares during the period. Allianz Asset Management AG acquired a new stake in shares of Tenet Healthcare Corp during the fourth quarter worth about $5,263,000. Finally, Stonehill Capital Management LLC acquired a new stake in shares of Tenet Healthcare Corp during the fourth quarter worth about $9,688,000. Tenet Healthcare Corp Company Profile

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