Investors sold shares of Tenet Healthcare Corp (NYSE:THC) on strength during trading hours on Monday. $5.77 million flowed into the stock on the tick-up and $15.71 million flowed out of the stock on the tick-down, for a money net flow of $9.94 million out of the stock. Of all companies tracked, Tenet Healthcare had the 18th highest net out-flow for the day. Tenet Healthcare traded up $0.50 for the day and closed at $25.12
A number of research firms have recently weighed in on THC. TheStreet upgraded shares of Tenet Healthcare from a “d+” rating to a “c” rating in a research note on Tuesday, March 13th. Zacks Investment Research upgraded shares of Tenet Healthcare from a “sell” rating to a “hold” rating in a research note on Tuesday, March 13th. ValuEngine upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. JPMorgan Chase & Co. increased their price objective on shares of Tenet Healthcare from $15.00 to $18.00 and gave the stock an “underweight” rating in a research note on Monday, March 5th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $21.00 price objective on shares of Tenet Healthcare in a research note on Thursday, March 1st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $20.56.
The stock has a market cap of $2,489.28, a PE ratio of -3.59, a P/E/G ratio of 2.11 and a beta of 1.07. The company has a debt-to-equity ratio of 27.44, a quick ratio of 1.22 and a current ratio of 1.29.
Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Monday, February 26th. The company reported $1.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.15. The company had revenue of $4.98 billion for the quarter, compared to analyst estimates of $4.85 billion. Tenet Healthcare had a negative net margin of 3.67% and a positive return on equity of 9.69%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the business earned $0.06 earnings per share. equities research analysts expect that Tenet Healthcare Corp will post 0.92 earnings per share for the current year.
In related news, Director George Fredrick Smitherman acquired 125,000 shares of the firm’s stock in a transaction on Thursday, January 25th. The shares were acquired at an average cost of $38.50 per share, with a total value of $4,812,500.00. Also, Director Ashish Dave sold 75,000 shares of the stock in a transaction on Friday, March 9th. The shares were sold at an average price of $1.40, for a total transaction of $105,000.00. Over the last ninety days, insiders have sold 129,600 shares of company stock worth $199,146. Insiders own 3.10% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Elkfork Partners LLC purchased a new position in Tenet Healthcare during the fourth quarter valued at $142,000. Xact Kapitalforvaltning AB purchased a new position in Tenet Healthcare during the fourth quarter valued at $153,000. Letko Brosseau & Associates Inc. purchased a new position in Tenet Healthcare during the fourth quarter valued at $30,300,000. MetLife Investment Advisors LLC purchased a new position in Tenet Healthcare during the fourth quarter valued at $1,358,000. Finally, Gotham Asset Management LLC lifted its holdings in Tenet Healthcare by 446.4% during the fourth quarter. Gotham Asset Management LLC now owns 439,274 shares of the company’s stock valued at $6,659,000 after purchasing an additional 358,885 shares in the last quarter.
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About Tenet Healthcare
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.
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