Tenet Healthcare Corporation’s (THC) “Hold” Rating Reiterated at Citigroup Inc.

Citigroup Inc. restated their hold rating on shares of Tenet Healthcare Corporation (NYSE:THC) in a research note issued to investors on Thursday. Citigroup Inc. currently has a $16.00 target price on the stock.

Other analysts also recently issued reports about the company. Deutsche Bank AG reaffirmed a buy rating and set a $24.00 price objective (down from $28.00) on shares of Tenet Healthcare Corporation in a research note on Thursday, August 10th. Jefferies Group LLC reaffirmed a buy rating and set a $24.00 price objective (down from $26.00) on shares of Tenet Healthcare Corporation in a research note on Tuesday, August 8th. Robert W. Baird reaffirmed a buy rating and set a $23.00 price objective on shares of Tenet Healthcare Corporation in a research note on Thursday, August 24th. Morgan Stanley started coverage on Tenet Healthcare Corporation in a research note on Tuesday, June 6th. They set an equal weight rating and a $19.00 price objective for the company. Finally, Royal Bank Of Canada reaffirmed a hold rating and set a $25.00 price objective on shares of Tenet Healthcare Corporation in a research note on Tuesday, July 18th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Hold and a consensus price target of $21.43.

Shares of Tenet Healthcare Corporation (THC) opened at 16.73 on Thursday. Tenet Healthcare Corporation has a 12-month low of $12.54 and a 12-month high of $24.13. The company’s 50-day moving average price is $16.08 and its 200 day moving average price is $17.53. The firm’s market capitalization is $1.69 billion.

Tenet Healthcare Corporation (NYSE:THC) last posted its quarterly earnings data on Monday, August 7th. The company reported ($0.17) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.17). The firm had revenue of $14.80 billion during the quarter, compared to the consensus estimate of $4.90 billion. Tenet Healthcare Corporation had a negative return on equity of 2.00% and a negative net margin of 0.97%. The firm’s revenue was up 204.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 EPS. On average, equities research analysts forecast that Tenet Healthcare Corporation will post $0.82 EPS for the current fiscal year.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harris Associates L P grew its holdings in shares of Tenet Healthcare Corporation by 1.4% in the 2nd quarter. Harris Associates L P now owns 7,733,435 shares of the company’s stock worth $149,565,000 after acquiring an additional 108,070 shares during the period. Vanguard Group Inc. grew its holdings in shares of Tenet Healthcare Corporation by 6.2% in the 2nd quarter. Vanguard Group Inc. now owns 6,995,269 shares of the company’s stock worth $135,289,000 after acquiring an additional 407,910 shares during the period. Franklin Resources Inc. grew its holdings in shares of Tenet Healthcare Corporation by 25.0% in the 2nd quarter. Franklin Resources Inc. now owns 5,000,000 shares of the company’s stock worth $96,700,000 after acquiring an additional 1,000,000 shares during the period. FMR LLC grew its holdings in shares of Tenet Healthcare Corporation by 36.9% in the 2nd quarter. FMR LLC now owns 3,724,713 shares of the company’s stock worth $72,036,000 after acquiring an additional 1,004,700 shares during the period. Finally, State Street Corp grew its holdings in shares of Tenet Healthcare Corporation by 25.4% in the 2nd quarter. State Street Corp now owns 2,926,533 shares of the company’s stock worth $56,603,000 after acquiring an additional 593,520 shares during the period.

Tenet Healthcare Corporation Company Profile

Tenet Healthcare Corporation (Tenet) is a healthcare services company. The Company operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets in the United States. The Company’s segments include Hospital Operations and Other, Ambulatory Care and Conifer. As of December 31, 2016, its subsidiaries operated 79 hospitals, including three academic medical centers, two children’s hospitals, two specialty hospitals and one critical access hospital.

Analyst Recommendations for Tenet Healthcare Corporation (NYSE:THC)

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