How Credit Suisse Currently Rates Tenet Healthcare (NYSE:THC)
In recent note issued on 16 December, stock research analysts at Credit Suisse launched coverage on Tenet Healthcare (NYSE:THC) shares. The investment house issued a key “Neutral” rating for THC stock.
From a total of 18 analysts covering Tenet Healthcare Corporation (NYSE:THC) stock, 9 rate it a ”Buy”, 0 a “Sell”, and 10 a ”Hold”. This means that 47% of the ratings are positive. The highest target price is $85 while the lowest target price is $30. The mean of all analyst targets is $45.17 with a 61.97% above today’s ($27.27) stock price. Tenet Healthcare Corporation was the topic of 13 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Mizuho maintained shares on December 2 with “Neutral” rating. BMO Capital Markets upgraded THC stock in a recent report from September 4 to “Outperform” rating. Finally, Goldman Sachs reinitiated the stock with “Neutral” rating in a report issued on a July 21.
Approximately 649,488 shares of stock traded hands. Tenet Healthcare Corp (NYSE:THC) has declined 43.01% since May 13, 2015 and is downtrending. It has underperformed by 40.39% the S&P500.
The overall sentiment of institutions has decreased to 0.93 in Q2 2015. Its down 0.38, from 1.31 in 2015Q2. The ratio fall, as 60 institutions have sold all the shares of Tenet Healthcare Corp that they owned while 106 funds have taken shares off the table. 41 funds have purchased shares for the first time while 114 added to their positions. These institutions now hold 92.28 million shares or 5.71% less than the 97.87 million shares they owned in 2015Q2.
The Fund Tipp Hill Capital Management Llc currently is holding shares equating to 4.54% of its total portfolio in Tenet Healthcare Corp representing a total of 120,000 shares. Another fund,Glenview Capital Management Llc, is holding a total of 16.49 million shares equating to 3.02% of their holdings. Additionally, Sector Gamma As has a 286,400 share stake in Tenet Healthcare Corp which represents 2.86% of their total portfolio. The Fund, Kelly Lawrence W & Associates Inc Ca, based out of California, has also built up a stake in the stock, which represents a total of 2.33% of their total portfolio. Finally Seatown Holdings Pte. Ltd., a fund which is based in the state of Singapore reported a total holdings of 299,774 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 5, 2015, shareholders of Tenet Healthcare Corp have witnessed 4 buys, and a total of 3 insider sales equating to a net activity of approximately $112.11 million . Glenview Capital Management – Llc bought 500,000 shares worth approximately $14.85M. Fetter Trevor sold 184,481 shares worth approximately $11.11M. Ramsey R. Scott sold 5,650 shares worth approximately $291,773. Andrews Audrey T. sold 4,396 shares worth approximately $204,810.
Tenet Healthcare Corporation is a healthcare services company. The company has a market cap of $2.68 billion. The Firm operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets. It has 198.17 P/E ratio. As of December 31, 2014, it operated 80 hospitals, 210 outpatient centers, six health plans and Conifer Health Solutions, LLC , which provides healthcare business process services in the areas of revenue cycle management, value care and patient communications.
According to Zacks Investment Research, “Tenet Healthcare Corp. is an investor-owned health care services company. The company owns or operates general hospitals and related health care facilities serving urban and rural communities in numerous states, and holds investments in other health care companies. The related health care facilities includes a small number of rehabilitation hospitals, specialty hospitals, and long-term care facilities.”