Tenet Healthcare (NYSE:THC) Now Covered by TD Cowen

Research analysts at TD Cowen initiated coverage on shares of Tenet Healthcare (NYSE:THC - Get Free Report) in a report issued on Wednesday, MarketBeat.com reports. The brokerage set a "buy" rating and a $175.00 price target on the stock. TD Cowen's price objective suggests a potential upside of 38.25% from the company's current price.

Several other research firms have also recently issued reports on THC. Barclays dropped their target price on Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. StockNews.com upgraded Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Tuesday. UBS Group upped their price target on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $175.00 price objective on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $177.00 target price on shares of Tenet Healthcare in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $163.88.

Tenet Healthcare Stock Performance

Shares of NYSE:THC traded down $3.90 on Wednesday, reaching $126.58. The company's stock had a trading volume of 3,557,071 shares, compared to its average volume of 1,413,571. The stock's 50-day moving average is $133.03 and its two-hundred day moving average is $147.07. Tenet Healthcare has a 52-week low of $90.03 and a 52-week high of $171.20. The stock has a market capitalization of $12.04 billion, a P/E ratio of 3.93, a PEG ratio of 1.02 and a beta of 2.05. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. As a group, sell-side analysts forecast that Tenet Healthcare will post 12.24 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Tenet Healthcare in the 4th quarter worth approximately $8,783,000. Forum Financial Management LP lifted its position in Tenet Healthcare by 43.5% during the fourth quarter. Forum Financial Management LP now owns 2,469 shares of the company's stock worth $312,000 after buying an additional 749 shares during the period. Neo Ivy Capital Management purchased a new position in Tenet Healthcare during the fourth quarter worth about $2,773,000. Vise Technologies Inc. lifted its position in Tenet Healthcare by 28.4% during the fourth quarter. Vise Technologies Inc. now owns 1,613 shares of the company's stock worth $204,000 after buying an additional 357 shares during the period. Finally, MidWestOne Financial Group Inc. lifted its position in Tenet Healthcare by 6.7% during the fourth quarter. MidWestOne Financial Group Inc. now owns 11,822 shares of the company's stock worth $1,492,000 after buying an additional 744 shares during the period. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

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.