Tenet Healthcare (NYSE:THC) Cut to Neutral at The Goldman Sachs Group

The Goldman Sachs Group cut shares of Tenet Healthcare (NYSE:THC - Free Report) from a buy rating to a neutral rating in a research report report published on Monday morning, Marketbeat.com reports. The Goldman Sachs Group currently has $140.00 target price on the stock, down from their previous target price of $196.00.

THC has been the subject of several other research reports. Raymond James cut shares of Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 price objective for the company. in a research note on Friday, November 22nd. Wells Fargo & Company lowered shares of Tenet Healthcare from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $205.00 to $150.00 in a report on Monday, November 25th. UBS Group lifted their price objective on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Barclays increased their target price on Tenet Healthcare from $171.00 to $190.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Finally, Cantor Fitzgerald upped their price objective on Tenet Healthcare from $168.00 to $177.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $164.69.

Tenet Healthcare Stock Performance

Shares of THC stock traded down $2.94 during trading on Monday, reaching $133.77. 1,577,506 shares of the company's stock traded hands, compared to its average volume of 1,225,069. Tenet Healthcare has a 1 year low of $73.21 and a 1 year high of $171.20. The company has a market capitalization of $12.72 billion, a P/E ratio of 4.38, a PEG ratio of 0.63 and a beta of 2.06. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. The firm's 50-day moving average is $152.09 and its 200 day moving average is $149.38.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.60. The company had revenue of $5.12 billion during the quarter, compared to analysts' expectations of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The firm's quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.44 earnings per share. Equities research analysts expect that Tenet Healthcare will post 11.38 EPS for the current year.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the business's stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total transaction of $623,760.00. Following the transaction, the executive vice president now directly owns 15,566 shares of the company's stock, valued at approximately $2,427,362.04. The trade was a 20.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.93% of the company's stock.

Hedge Funds Weigh In On Tenet Healthcare

Institutional investors have recently added to or reduced their stakes in 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. Optas LLC boosted its holdings in shares of Tenet Healthcare by 3.4% in the third quarter. Optas LLC now owns 2,821 shares of the company's stock worth $469,000 after buying an additional 93 shares during the last quarter. Signaturefd LLC grew its stake in shares of Tenet Healthcare by 17.6% during the 3rd quarter. Signaturefd LLC now owns 628 shares of the company's stock valued at $104,000 after acquiring an additional 94 shares during the period. CIBC Asset Management Inc grew its position in shares of Tenet Healthcare by 3.4% during the third quarter. CIBC Asset Management Inc now owns 2,887 shares of the company's stock worth $480,000 after purchasing an additional 94 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Tenet Healthcare by 20.7% in the second quarter. EverSource Wealth Advisors LLC now owns 560 shares of the company's stock worth $74,000 after purchasing an additional 96 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.