Barclays Has Lowered Expectations for Tenet Healthcare (NYSE:THC) Stock Price

Tenet Healthcare (NYSE:THC - Free Report) had its target price trimmed by Barclays from $190.00 to $161.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages have also recently commented on THC. StockNews.com cut shares of Tenet Healthcare from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, December 17th. Truist Financial lowered their target price on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Raymond James downgraded Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 price objective on the stock. in a research report on Friday, November 22nd. KeyCorp cut their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $175.00 price target on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $163.19.

Tenet Healthcare Price Performance

Shares of NYSE THC traded down $0.17 during trading on Thursday, hitting $133.40. 1,991,865 shares of the company were exchanged, compared to its average volume of 951,949. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52. Tenet Healthcare has a 1 year low of $88.57 and a 1 year high of $171.20. The firm's fifty day moving average price is $133.32 and its 200 day moving average price is $148.10. The company has a market cap of $12.69 billion, a price-to-earnings ratio of 4.27, a PEG ratio of 0.63 and a beta of 2.05.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.95 by $0.49. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. On average, sell-side analysts expect that Tenet Healthcare will post 11.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of THC. Plato Investment Management Ltd acquired a new stake in shares of Tenet Healthcare in the third quarter worth $28,000. Colonial Trust Co SC raised its position in Tenet Healthcare by 85.7% in the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company's stock valued at $31,000 after purchasing an additional 114 shares during the period. Financial Management Professionals Inc. lifted its stake in shares of Tenet Healthcare by 2,222.2% during the third quarter. Financial Management Professionals Inc. now owns 209 shares of the company's stock worth $35,000 after purchasing an additional 200 shares in the last quarter. GeoWealth Management LLC grew its stake in shares of Tenet Healthcare by 39.8% in the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after buying an additional 84 shares in the last quarter. Finally, True Wealth Design LLC purchased a new stake in shares of Tenet Healthcare during the 3rd quarter valued at about $38,000. Hedge funds and other institutional investors own 95.44% of the company's stock.

About Tenet Healthcare

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.