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

Tenet Healthcare (NYSE:THC - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Thursday.

THC has been the topic of a number of other research reports. UBS Group boosted their price target on Tenet Healthcare from $197.00 to $217.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Royal Bank of Canada lifted their price target on shares of Tenet Healthcare from $174.00 to $183.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Truist Financial dropped 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. KeyCorp decreased their price target 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, Raymond James lowered Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 price target on the stock. in a research report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $163.19.

Tenet Healthcare Trading Down 0.1 %

Shares of THC traded down $0.17 during mid-day trading on Thursday, reaching $133.40. The company's stock had a trading volume of 1,991,865 shares, compared to its average volume of 951,949. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. Tenet Healthcare has a 52 week low of $88.57 and a 52 week high of $171.20. The company's fifty day moving average price is $133.32 and its two-hundred day moving average price is $148.10. The stock has a market cap of $12.69 billion, a PE ratio of 4.27, a P/E/G ratio of 0.63 and a beta of 2.05.

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

Institutional Investors Weigh In On Tenet Healthcare

Several institutional investors have recently modified their holdings of the business. ProShare Advisors LLC increased its position in Tenet Healthcare by 6.5% during the fourth quarter. ProShare Advisors LLC now owns 4,449 shares of the company's stock valued at $562,000 after acquiring an additional 272 shares during the last quarter. Parkman Healthcare Partners LLC grew its position in Tenet Healthcare by 14.1% during the fourth quarter. Parkman Healthcare Partners LLC now owns 106,987 shares of the company's stock valued at $13,505,000 after buying an additional 13,234 shares during the period. Man Group plc raised its position in Tenet Healthcare by 21.4% in the fourth quarter. Man Group plc now owns 86,005 shares of the company's stock worth $10,856,000 after acquiring an additional 15,164 shares during the period. Occudo Quantitative Strategies LP grew its position in shares of Tenet Healthcare by 174.8% during the 4th quarter. Occudo Quantitative Strategies LP now owns 5,933 shares of the company's stock valued at $749,000 after acquiring an additional 3,774 shares during the period. Finally, Meridiem Capital Partners LP purchased a new position in Tenet Healthcare during the fourth quarter valued at $2,957,000. 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.