Shares of Tenet Healthcare Corp (NYSE:THC) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $20.04 and traded as high as $17.65. Tenet Healthcare shares last traded at $17.39, with a volume of 40,471 shares trading hands.
A number of brokerages have recently weighed in on THC. TheStreet upgraded White Mountains Insurance Group from a “c” rating to a “b” rating in a research note on Monday, May 13th. ValuEngine lowered Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. SunTrust Banks upped their price objective on Mcdonald’s to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, Barclays set a $24.00 price objective on Tenet Healthcare and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. Tenet Healthcare has a consensus rating of “Hold” and an average price target of $29.46.
The firm has a market cap of $1.86 billion, a PE ratio of 9.45, a price-to-earnings-growth ratio of 0.50 and a beta of 1.59. The business’s 50 day simple moving average is $20.04. The company has a quick ratio of 1.15, a current ratio of 1.23 and a debt-to-equity ratio of 21.98.
Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.25. The firm had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.51 billion. Tenet Healthcare had a positive return on equity of 29.29% and a negative net margin of 0.04%. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period last year, the company posted $0.57 EPS. As a group, analysts expect that Tenet Healthcare Corp will post 2.33 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in THC. Bank of New York Mellon Corp raised its stake in shares of Tenet Healthcare by 6.6% during the fourth quarter. Bank of New York Mellon Corp now owns 999,415 shares of the company’s stock valued at $17,129,000 after acquiring an additional 61,675 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Tenet Healthcare by 14.2% in the fourth quarter. Great West Life Assurance Co. Can now owns 68,497 shares of the company’s stock valued at $1,098,000 after purchasing an additional 8,520 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Tenet Healthcare by 346.3% in the fourth quarter. Bessemer Group Inc. now owns 3,325 shares of the company’s stock valued at $57,000 after purchasing an additional 2,580 shares in the last quarter. United Services Automobile Association grew its holdings in shares of Tenet Healthcare by 10.8% in the fourth quarter. United Services Automobile Association now owns 17,605 shares of the company’s stock valued at $302,000 after purchasing an additional 1,721 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Tenet Healthcare by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,484,283 shares of the company’s stock valued at $42,582,000 after purchasing an additional 104,582 shares in the last quarter. 99.26% of the stock is currently owned by institutional investors and hedge funds.
About Tenet Healthcare (NYSE:THC)
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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