Tenet Healthcare (NYSE:THC) Stock Price Down 7.1% - What's Next?

Shares of Tenet Healthcare Co. (NYSE:THC - Get Free Report) dropped 7.1% on Friday . The stock traded as low as $117.00 and last traded at $121.20. Approximately 427,692 shares were traded during trading, a decline of 68% from the average daily volume of 1,324,976 shares. The stock had previously closed at $130.48.

Analyst Ratings Changes

THC has been the topic of several recent research reports. KeyCorp lowered their price objective on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. The Goldman Sachs Group cut Tenet Healthcare from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. StockNews.com upgraded Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. restated an "overweight" rating and issued a $175.00 price target on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Finally, TD Cowen began coverage on Tenet Healthcare in a research report on Wednesday, February 26th. They issued a "buy" rating and a $175.00 price target on the stock. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $163.88.

Tenet Healthcare Stock Performance

The firm has a market capitalization of $11.68 billion, a P/E ratio of 3.81, a P/E/G ratio of 1.02 and a beta of 2.05. The stock has a fifty day simple moving average of $132.79 and a two-hundred day simple moving average of $146.53. 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 (NYSE:THC - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 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, research analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Institutional Investors Weigh In On Tenet Healthcare

Several hedge funds and other institutional investors have recently modified their holdings of the company. Coldstream Capital Management Inc. increased its holdings in shares of Tenet Healthcare by 2.2% during the third quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company's stock valued at $566,000 after acquiring an additional 74 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Tenet Healthcare by 9.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company's stock valued at $119,000 after buying an additional 80 shares during the last quarter. GeoWealth Management LLC boosted its position in shares of Tenet Healthcare by 39.8% during the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after buying an additional 84 shares during the last quarter. Spire Wealth Management boosted its position in shares of Tenet Healthcare by 19.5% during the fourth quarter. Spire Wealth Management now owns 558 shares of the company's stock valued at $70,000 after buying an additional 91 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Tenet Healthcare by 1.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company's stock valued at $732,000 after buying an additional 92 shares during the last quarter. Institutional investors own 95.44% of the company's stock.

Tenet Healthcare Company Profile

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.