Tenet Healthcare (NYSE:THC) Raised to "Buy" at StockNews.com

Tenet Healthcare (NYSE:THC - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Tuesday.

Several other analysts have also issued reports on the stock. KeyCorp reduced their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. UBS Group raised their price target on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. reissued an "overweight" rating and set a $175.00 target price on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Wells Fargo & Company downgraded shares of Tenet Healthcare from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $205.00 to $150.00 in a research note on Monday, November 25th. Finally, The Goldman Sachs Group downgraded shares of Tenet Healthcare from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $163.88.

Tenet Healthcare Stock Performance

Tenet Healthcare stock traded down $3.90 during trading hours on Tuesday, hitting $126.58. The company had a trading volume of 3,557,071 shares, compared to its average volume of 1,413,571. The firm has a market cap of $12.04 billion, a PE 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 has a one year low of $90.03 and a one year high of $171.20. The firm has a 50-day moving average of $133.03 and a 200 day moving average of $147.07.

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 for the quarter, beating 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, sell-side analysts expect that Tenet Healthcare will post 12.24 earnings per share for the current year.

Institutional Trading of Tenet Healthcare

Hedge funds and other institutional investors have recently modified their holdings of the business. New Wave Wealth Advisors LLC bought a new stake in shares of Tenet Healthcare in the fourth quarter valued at approximately $343,000. Swedbank AB raised its position in shares of Tenet Healthcare by 100.0% in the fourth 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 period. Signet Financial Management LLC bought a new stake in Tenet Healthcare during the 4th quarter worth approximately $1,526,000. China Universal Asset Management Co. Ltd. bought a new stake in Tenet Healthcare during the 4th quarter worth approximately $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Tenet Healthcare during the 4th quarter worth approximately $5,892,000. Institutional investors own 95.44% of the company's stock.

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.