Tenet Healthcare (NYSE:THC) Receives "Overweight" Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their overweight rating on shares of Tenet Healthcare (NYSE:THC - Free Report) in a research report report published on Tuesday, Marketbeat reports. The firm currently has a $175.00 price target on the stock.

THC has been the subject of several other research reports. Cantor Fitzgerald increased their price objective on shares of Tenet Healthcare from $168.00 to $177.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Barclays increased their price objective on shares of Tenet Healthcare from $171.00 to $190.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. Royal Bank of Canada increased their price objective on shares of Tenet Healthcare from $174.00 to $183.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Truist Financial reaffirmed a "buy" rating and issued a $190.00 target price (up previously from $180.00) on shares of Tenet Healthcare in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company downgraded shares of Tenet Healthcare from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $205.00 to $150.00 in a research report on Monday, November 25th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $166.88.

Tenet Healthcare Trading Down 0.9 %

NYSE THC traded down $1.22 during trading hours on Tuesday, hitting $132.55. The company's stock had a trading volume of 1,315,115 shares, compared to its average volume of 1,226,815. The stock has a fifty day moving average of $151.70 and a 200 day moving average of $149.39. Tenet Healthcare has a twelve month low of $73.21 and a twelve month high of $171.20. The firm has a market capitalization of $12.61 billion, a P/E ratio of 4.28, a PEG ratio of 0.63 and a beta of 2.06. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. Tenet Healthcare's revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.44 earnings per share. Equities research analysts forecast that Tenet Healthcare will post 11.38 earnings per share for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other news, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the completion of the transaction, the executive vice president now owns 15,566 shares in the company, valued at $2,427,362.04. This trade represents a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.93% of the company's stock.

Hedge Funds Weigh In On Tenet Healthcare

A number of large investors have recently modified their holdings of THC. Coldstream Capital Management Inc. lifted its position in 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 purchasing an additional 74 shares during the last quarter. Optas LLC lifted its holdings in shares of Tenet Healthcare by 3.4% in the 3rd quarter. Optas LLC now owns 2,821 shares of the company's stock worth $469,000 after acquiring an additional 93 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Tenet Healthcare by 17.6% in the 3rd quarter. Signaturefd LLC now owns 628 shares of the company's stock worth $104,000 after acquiring an additional 94 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Tenet Healthcare by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 2,887 shares of the company's stock worth $480,000 after acquiring an additional 94 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Tenet Healthcare by 20.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 560 shares of the company's stock worth $74,000 after acquiring an additional 96 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors.

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.