Tenet Healthcare (NYSE:THC - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Thursday.
THC has been the subject of several other reports. KeyCorp cut their target price on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Truist Financial cut their target price on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Wells Fargo & Company cut Tenet Healthcare from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $205.00 to $150.00 in a research note on Monday, November 25th. Cantor Fitzgerald restated an "overweight" rating and set a $177.00 target price on shares of Tenet Healthcare in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $175.00 price target on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $163.88.
Read Our Latest Analysis on Tenet Healthcare
Tenet Healthcare Trading Down 4.2 %
Shares of NYSE:THC opened at $121.11 on Thursday. The company has a market capitalization of $11.52 billion, a P/E ratio of 3.76, a P/E/G ratio of 1.02 and a beta of 2.06. Tenet Healthcare has a 1 year low of $90.03 and a 1 year high of $171.20. 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 business's 50 day simple moving average is $132.57 and its 200 day simple moving average is $145.21.
Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 anticipate that Tenet Healthcare will post 12.24 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, Director J Robert Kerrey sold 9,525 shares of the firm's 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 completion of the sale, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.93% of the company's stock.
Institutional Trading of Tenet Healthcare
Several large investors have recently made changes to their positions in the company. FMR LLC lifted its position 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 acquiring an additional 3,604,161 shares in the last quarter. Norges Bank bought a new position in Tenet Healthcare in the 4th quarter valued at about $190,819,000. Wealthfront Advisers LLC bought a new position in Tenet Healthcare in the 4th quarter valued at about $69,059,000. Geode Capital Management LLC lifted its position in Tenet Healthcare by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company's stock valued at $339,893,000 after acquiring an additional 390,316 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Tenet Healthcare in the 4th quarter valued at about $49,001,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.
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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