Tenet Healthcare (NYSE:THC) Downgraded to Hold Rating by Baird R W

Baird R W lowered shares of Tenet Healthcare (NYSE:THC - Free Report) from a strong-buy rating to a hold rating in a report issued on Tuesday morning,Zacks.com reports.

A number of other research firms also recently weighed in on THC. Guggenheim started coverage on Tenet Healthcare in a report on Wednesday, April 9th. They issued a "buy" rating and a $165.00 target price on the stock. JPMorgan Chase & Co. restated an "overweight" rating and set a $175.00 target price on shares of Tenet Healthcare in a research note on Tuesday, December 17th. The Goldman Sachs Group downgraded shares of Tenet Healthcare from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $196.00 to $140.00 in a research report on Monday, December 16th. Truist Financial decreased their price target on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Finally, KeyCorp lowered their price target on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Tenet Healthcare has an average rating of "Moderate Buy" and a consensus target price of $165.44.

Tenet Healthcare Trading Down 8.4 %

NYSE:THC traded down $10.28 during trading hours on Tuesday, reaching $111.53. The company's stock had a trading volume of 725,100 shares, compared to its average volume of 1,499,960. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. Tenet Healthcare has a 1 year low of $92.01 and a 1 year high of $171.20. The firm has a market capitalization of $10.53 billion, a price-to-earnings ratio of 3.46, a PEG ratio of 1.02 and a beta of 1.77. The firm has a 50-day simple moving average of $127.88 and a 200-day simple moving average of $138.01.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data 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%. Research analysts expect that Tenet Healthcare will post 12.24 EPS for the current fiscal year.

Insider Buying and Selling at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the sale, the director now directly owns 27,378 shares of the company's stock, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.93% of the company's stock.

Hedge Funds Weigh In On Tenet Healthcare

A number of large investors have recently added to or reduced their stakes in the stock. New Wave Wealth Advisors LLC purchased a new stake in shares of Tenet Healthcare during the 4th quarter valued at approximately $343,000. Swedbank AB increased its position in shares of Tenet Healthcare by 100.0% in the 4th quarter. Swedbank AB now owns 40,000 shares of the company's stock valued at $5,049,000 after purchasing an additional 20,000 shares during the last quarter. Signet Financial Management LLC acquired a new position in shares of Tenet Healthcare during the 4th quarter worth about $1,526,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Tenet Healthcare during the 4th quarter worth approximately $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Tenet Healthcare in the 4th quarter valued at about $5,892,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

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.