Shares of Tenet Healthcare Co. (NYSE:THC - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $124.91, but opened at $121.98. Tenet Healthcare shares last traded at $122.86, with a volume of 72,178 shares.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on THC shares. Truist Financial decreased their price objective on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Cantor Fitzgerald reiterated an "overweight" rating and set a $177.00 price objective on shares of Tenet Healthcare in a research note on Thursday, February 13th. Barclays cut their price target on shares of Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Baird R W lowered shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Finally, KeyCorp dropped their target price 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. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Tenet Healthcare currently has an average rating of "Moderate Buy" and an average price target of $165.44.
Check Out Our Latest Report on THC
Tenet Healthcare Trading Up 0.9 %
The stock has a market capitalization of $11.46 billion, a PE ratio of 3.77, a P/E/G ratio of 1.02 and a beta of 1.77. The stock has a 50 day moving average price of $127.88 and a 200-day moving average price of $138.14. 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 (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, 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%. Sell-side analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.
Insiders Place Their Bets
In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were 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 in the company, valued at $3,434,022.54. This represents a 25.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.93% of the stock is owned by insiders.
Hedge Funds Weigh In On Tenet Healthcare
A number of large investors have recently bought and sold shares of the business. Franklin Resources Inc. grew its position in Tenet Healthcare by 11.9% during the 3rd quarter. Franklin Resources Inc. now owns 457,704 shares of the company's stock worth $71,077,000 after purchasing an additional 48,580 shares during the last quarter. Retirement Systems of Alabama grew its stake in Tenet Healthcare by 46.6% during the 3rd quarter. Retirement Systems of Alabama now owns 176,757 shares of the company's stock valued at $29,377,000 after purchasing an additional 56,193 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position in Tenet Healthcare by 101.3% in the third quarter. B. Riley Wealth Advisors Inc. now owns 7,894 shares of the company's stock valued at $1,281,000 after buying an additional 3,973 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Tenet Healthcare by 13.5% in the fourth quarter. Nordea Investment Management AB now owns 83,793 shares of the company's stock worth $10,577,000 after acquiring an additional 9,946 shares during the period. Finally, CWA Asset Management Group LLC acquired a new stake in Tenet Healthcare during the 4th quarter worth about $1,758,000. 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.
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