Tenet Healthcare (NYSE:THC) Rating Lowered to "Hold" at StockNews.com

StockNews.com downgraded shares of Tenet Healthcare (NYSE:THC - Free Report) from a buy rating to a hold rating in a research note released on Wednesday.

THC has been the subject of a number of other research reports. Truist Financial cut their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Raymond James cut Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 price target on the stock. in a research note on Friday, November 22nd. Barclays cut their price target on shares of Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. The Goldman Sachs Group downgraded Tenet Healthcare from a "buy" rating to a "neutral" rating and cut their target price for the company from $196.00 to $140.00 in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $175.00 price objective on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Tenet Healthcare has an average rating of "Moderate Buy" and a consensus price target of $163.88.

Tenet Healthcare Stock Down 1.1 %

THC stock traded down $1.41 during trading hours on Wednesday, reaching $124.61. 688,598 shares of the stock were exchanged, compared to its average volume of 1,410,505. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The company has a market cap of $11.85 billion, a price-to-earnings ratio of 3.87, a PEG ratio of 1.02 and a beta of 2.06. The firm's 50-day moving average is $132.72 and its 200-day moving average is $146.39. Tenet Healthcare has a 12 month low of $90.03 and a 12 month high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. On average, equities research analysts expect that Tenet Healthcare will post 12.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of THC. FMR LLC raised its stake in shares of Tenet Healthcare by 88.0% during the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company's stock worth $1,279,855,000 after buying an additional 3,604,161 shares during the last quarter. Norges Bank purchased a new stake in shares of Tenet Healthcare in the fourth quarter valued at about $190,819,000. Wealthfront Advisers LLC purchased a new stake in shares of Tenet Healthcare during the 4th quarter valued at $69,059,000. Geode Capital Management LLC lifted its position in Tenet Healthcare by 23.6% during the third quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company's stock valued at $339,893,000 after buying an additional 390,316 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Tenet Healthcare during the 4th quarter worth $49,001,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

Tenet Healthcare Company Profile

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.