Analysts at Guggenheim started coverage on shares of Tenet Healthcare (NYSE:THC - Get Free Report) in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm set a "buy" rating and a $165.00 price target on the stock. Guggenheim's price objective would suggest a potential upside of 35.04% from the stock's previous close.
A number of other research analysts have also recently commented on the stock. The Goldman Sachs Group cut shares of Tenet Healthcare from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. Cantor Fitzgerald reissued an "overweight" rating and set a $177.00 target price on shares of Tenet Healthcare in a report on Thursday, February 13th. Morgan Stanley initiated coverage on Tenet Healthcare in a research note on Wednesday, March 26th. They set an "overweight" rating and a $165.00 price objective for the company. StockNews.com upgraded Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. Finally, TD Cowen initiated coverage on shares of Tenet Healthcare in a report on Wednesday, February 26th. They issued a "buy" rating and a $175.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $166.33.
View Our Latest Analysis on Tenet Healthcare
Tenet Healthcare Trading Down 1.3 %
Shares of Tenet Healthcare stock traded down $1.60 during trading hours on Wednesday, reaching $122.19. The stock had a trading volume of 652,298 shares, compared to its average volume of 1,519,156. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. Tenet Healthcare has a 1 year low of $90.03 and a 1 year high of $171.20. The firm has a market capitalization of $11.62 billion, a price-to-earnings ratio of 3.79, a P/E/G ratio of 1.02 and a beta of 1.77. The firm has a 50 day simple moving average of $129.77 and a two-hundred day simple moving average of $139.42.
Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings data 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%. As a group, equities research analysts anticipate that Tenet Healthcare will post 12.24 earnings per share for the current year.
Insiders Place Their Bets
In related news, Director J Robert Kerrey sold 9,525 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value of $1,194,720.75. Following the transaction, the director now directly owns 27,378 shares of the company's stock, valued at approximately $3,434,022.54. This trade represents a 25.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.93% of the company's stock.
Hedge Funds Weigh In On Tenet Healthcare
Institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in Tenet Healthcare in the 4th quarter worth $190,819,000. Wealthfront Advisers LLC acquired a new stake in Tenet Healthcare in the 4th quarter valued at approximately $69,059,000. Geode Capital Management LLC increased its position in Tenet Healthcare by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company's stock worth $339,893,000 after buying an additional 390,316 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Tenet Healthcare in the fourth quarter valued at approximately $49,001,000. Finally, Renaissance Technologies LLC increased its position in Tenet Healthcare by 579.2% during the fourth quarter. Renaissance Technologies LLC now owns 438,563 shares of the company's stock worth $55,360,000 after acquiring an additional 373,988 shares during the period. Institutional investors own 95.44% of the company's stock.
About Tenet Healthcare
(
Get Free Report)
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.
See Also
Before you consider Tenet Healthcare, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tenet Healthcare wasn't on the list.
While Tenet Healthcare currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
