Tenet Healthcare Co. (NYSE:THC - Get Free Report)'s share price fell 3.2% during trading on Friday . The company traded as low as $121.01 and last traded at $121.27. 84,178 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 363,409 shares. The stock had previously closed at $125.22.
Analyst Ratings Changes
A number of brokerages have recently weighed in on THC. KeyCorp began coverage on Tenet Healthcare in a research note on Friday, October 11th. They set an "overweight" rating and a $200.00 price target on the stock. Cantor Fitzgerald raised their price target on shares of Tenet Healthcare from $168.00 to $177.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on shares of Tenet Healthcare from $174.00 to $183.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Truist Financial reaffirmed a "buy" rating and set a $190.00 price target (up previously from $180.00) on shares of Tenet Healthcare in a research report on Wednesday, October 30th. Finally, Barclays raised their price objective on Tenet Healthcare from $171.00 to $190.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $166.88.
Check Out Our Latest Report on THC
Tenet Healthcare Trading Down 2.1 %
The stock has a market cap of $11.66 billion, a PE ratio of 3.93, a price-to-earnings-growth ratio of 0.61 and a beta of 2.06. The company has a 50 day moving average of $144.08 and a two-hundred day moving average of $148.47. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58.
Tenet Healthcare (NYSE:THC - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.33 by $0.60. The firm had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The business's revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.44 EPS. Sell-side analysts anticipate that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the firm's stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $155.94, for a total value of $623,760.00. Following the transaction, the executive vice president now owns 15,566 shares in the company, valued at approximately $2,427,362.04. This trade represents a 20.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.93% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Tenet Healthcare
Several hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC grew its holdings in Tenet Healthcare by 88.0% in the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company's stock valued at $1,279,855,000 after buying an additional 3,604,161 shares in the last quarter. Geode Capital Management LLC increased its position in Tenet Healthcare by 23.6% during the third quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company's stock worth $339,893,000 after purchasing an additional 390,316 shares during the last quarter. Acadian Asset Management LLC raised its stake in Tenet Healthcare by 7,223.1% during the second quarter. Acadian Asset Management LLC now owns 326,244 shares of the company's stock worth $43,385,000 after purchasing an additional 321,789 shares during the period. Iron Triangle Partners LP purchased a new stake in shares of Tenet Healthcare in the 3rd quarter valued at approximately $51,346,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Tenet Healthcare by 344.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 317,198 shares of the company's stock worth $52,718,000 after buying an additional 245,875 shares during the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.
Tenet Healthcare Company Profile
(
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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