Tenet Healthcare (NYSE:THC) Cut to “Buy” at StockNews.com

StockNews.com lowered shares of Tenet Healthcare (NYSE:THC) from a strong-buy rating to a buy rating in a report released on Tuesday morning.

Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $175.00 target price on shares of Tenet Healthcare in a research report on Tuesday. Wells Fargo & Company lowered shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $205.00 to $150.00 in a research note on Monday, November 25th. Cantor Fitzgerald raised their price target on shares of Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. UBS Group increased their price objective on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada upped their target price on Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $166.88.

Tenet Healthcare Price Performance

Shares of THC opened at $125.70 on Tuesday. The stock has a market cap of $11.95 billion, a P/E ratio of 4.03, a P/E/G ratio of 0.61 and a beta of 2.06. The business’s fifty day moving average is $150.26 and its 200 day moving average is $149.05. 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 has a 12-month low of $73.21 and a 12-month high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.33 by $0.60. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The company had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the previous year, the firm posted $1.44 earnings per share. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. Sell-side analysts anticipate that Tenet Healthcare will post 11.38 earnings per share for the current fiscal year.

Insider Transactions at Tenet Healthcare

In related news, EVP Lisa Y. Foo sold 4,000 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 15,566 shares in the company, valued at approximately $2,427,362.04. This represents a 20.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tenet Healthcare

Institutional investors have recently made changes to their positions in the stock. Plato Investment Management Ltd bought a new stake in shares of Tenet Healthcare during the 3rd quarter valued at $28,000. ORG Wealth Partners LLC bought a new stake in shares of Tenet Healthcare during the third quarter valued at about $30,000. Financial Management Professionals Inc. lifted its holdings in shares of Tenet Healthcare by 2,222.2% in the third quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock worth $35,000 after buying an additional 200 shares in the last quarter. Innealta Capital LLC purchased a new position in Tenet Healthcare during the second quarter valued at approximately $28,000. Finally, True Wealth Design LLC purchased a new stake in Tenet Healthcare in the 3rd quarter worth approximately $38,000. Hedge funds and other 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.