The index rose 18.86 points, or 1.38% to close at 1,387.57.
Shares of Tenet Healthcare increased 5.31% Thursday to $5.35. The hospital company is getting $84 million from the federal government through a Medicare settlement reached with the health care industry.
Tenet Healthcare shares trade at an estimated price-to-earnings ratio for next year of 8.23X; the average for health care providers is 17.83X. For comparison, Amerigroup (AGP) has a forward P/E of 13.38X.Eleven of the 19 analysts who cover Tenet Healthcare rate it at hold. Six analysts give the stock a buy rating and two rate it at sell. TheStreet Ratings gives Tenet Healthcare a C- grade and hold rating. The stock has risen 4.29% year to date.
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