Tenet Healthcare Co. (NYSE:THC - Get Free Report)'s stock price traded down 7.7% during mid-day trading on Monday . The company traded as low as $112.05 and last traded at $112.48. 537,022 shares were traded during trading, a decline of 64% from the average session volume of 1,496,713 shares. The stock had previously closed at $121.81.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. TD Cowen initiated coverage on Tenet Healthcare in a report on Wednesday, February 26th. They set a "buy" rating and a $175.00 target price for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $177.00 target price on shares of Tenet Healthcare in a report on Thursday, February 13th. Baird R W lowered Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Truist Financial dropped their price target 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. Finally, Guggenheim initiated coverage on shares of Tenet Healthcare in a report on Wednesday, April 9th. They issued a "buy" rating and a $165.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $165.44.
View Our Latest Stock Analysis on Tenet Healthcare
Tenet Healthcare Trading Up 1.5 %
The firm's 50-day moving average is $126.95 and its 200 day moving average is $137.42. The firm has a market capitalization of $11.60 billion, a price-to-earnings ratio of 3.81, a P/E/G ratio of 1.02 and a beta of 1.77. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25.
Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. On average, equities analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.
Insider Transactions at Tenet Healthcare
In related news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the transaction, the director now directly owns 27,378 shares in the company, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.93% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Tenet Healthcare during the 1st quarter valued at $26,000. Steph & Co. lifted its holdings in shares of Tenet Healthcare by 153.1% during the 1st quarter. Steph & Co. now owns 1,159 shares of the company's stock worth $156,000 after acquiring an additional 701 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Tenet Healthcare during the 1st quarter worth $3,777,000. Whalen Wealth Management Inc. bought a new stake in shares of Tenet Healthcare during the 1st quarter worth $429,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of Tenet Healthcare during the 1st quarter worth $212,000. 95.44% of the stock is currently 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.
Featured Articles
Before you consider Tenet Healthcare, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tenet Healthcare wasn't on the list.
While Tenet Healthcare currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
