Tenet Healthcare Co. (NYSE:THC - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $129.49, but opened at $132.81. Tenet Healthcare shares last traded at $133.32, with a volume of 231,453 shares trading hands.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the stock. Truist Financial cut their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating on the stock in a report on Monday, January 6th. KeyCorp reduced their target price 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. Barclays dropped their price objective on Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $175.00 target price on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Finally, The Goldman Sachs Group lowered Tenet Healthcare from a "buy" rating to a "neutral" rating and cut their price target for the company from $196.00 to $140.00 in a research note on Monday, December 16th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $166.41.
Check Out Our Latest Report on Tenet Healthcare
Tenet Healthcare Stock Down 0.9 %
The company's fifty day simple moving average is $132.43 and its 200-day simple moving average is $142.50. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The firm has a market capitalization of $12.67 billion, a PE ratio of 4.13, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06.
Tenet Healthcare (NYSE:THC - Get Free Report) last announced its earnings results 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 return on equity of 21.88% and a net margin of 15.48%. On average, analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current year.
Insider Buying and Selling at Tenet Healthcare
In other news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction dated 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 represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.93% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Tenet Healthcare
Large investors have recently bought and sold shares of the company. New Wave Wealth Advisors LLC purchased a new stake in shares of Tenet Healthcare in the 4th quarter valued at $343,000. Swedbank AB boosted its holdings in 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 last quarter. Signet Financial Management LLC acquired a new stake in Tenet Healthcare during the 4th quarter worth about $1,526,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Tenet Healthcare in the 4th quarter valued at about $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 fourth quarter worth about $5,892,000. Hedge funds and other 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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