Tenet Healthcare (NYSE:THC - Free Report) had its price objective lowered by KeyCorp from $200.00 to $185.00 in a report published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.
THC has been the subject of a number of other research reports. Truist Financial dropped their target price on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a research report on Monday. Wells Fargo & Company cut shares of Tenet Healthcare from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $205.00 to $150.00 in a research note on Monday, November 25th. Barclays raised their price target on Tenet Healthcare from $171.00 to $190.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. UBS Group increased their target price on Tenet Healthcare from $197.00 to $217.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. restated an "overweight" rating and set a $175.00 target price on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Tenet Healthcare has a consensus rating of "Moderate Buy" and an average price target of $165.00.
Check Out Our Latest Stock Analysis on THC
Tenet Healthcare Price Performance
Shares of THC stock traded up $3.34 during trading hours on Tuesday, hitting $128.95. 1,162,854 shares of the company's stock were exchanged, compared to its average volume of 1,175,988. Tenet Healthcare has a 52 week low of $75.83 and a 52 week high of $171.20. The stock has a market cap of $12.26 billion, a price-to-earnings ratio of 4.13, a price-to-earnings-growth ratio of 0.61 and a beta of 2.06. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52. The stock's 50-day moving average is $143.47 and its 200-day moving average is $148.45.
Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.60. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The firm had revenue of $5.12 billion during the quarter, compared to analysts' expectations of $5.05 billion. During the same quarter last year, the company posted $1.44 EPS. The company's quarterly revenue was up 1.1% compared to the same quarter last year. As a group, research analysts forecast that Tenet Healthcare will post 11.38 EPS for the current year.
Insider Activity
In related news, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $155.94, for a total value of $623,760.00. Following the sale, the executive vice president now owns 15,566 shares of the company's stock, valued at approximately $2,427,362.04. The trade was a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.93% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. Oliver Luxxe Assets LLC lifted its position in shares of Tenet Healthcare by 12.9% in the fourth quarter. Oliver Luxxe Assets LLC now owns 5,628 shares of the company's stock valued at $710,000 after buying an additional 643 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in Tenet Healthcare during the fourth quarter worth approximately $1,758,000. Nordea Investment Management AB grew its position in shares of Tenet Healthcare by 13.5% in the fourth quarter. Nordea Investment Management AB now owns 83,793 shares of the company's stock valued at $10,577,000 after purchasing an additional 9,946 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in Tenet Healthcare by 101.3% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 7,894 shares of the company's stock valued at $1,281,000 after purchasing an additional 3,973 shares during the period. Finally, Retirement Systems of Alabama lifted its holdings in shares of Tenet Healthcare by 46.6% during the third quarter. Retirement Systems of Alabama now owns 176,757 shares of the company's stock worth $29,377,000 after buying an additional 56,193 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.
About Tenet Healthcare
(
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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.
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