Tenet Healthcare (NYSE:THC) Upgraded at StockNews.com

StockNews.com upgraded shares of Tenet Healthcare (NYSE:THC) from a hold rating to a buy rating in a research report report published on Tuesday morning.

Other analysts also recently issued research reports about the stock. The Goldman Sachs Group downgraded shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $196.00 to $140.00 in a report on Monday, December 16th. Royal Bank of Canada lifted their price objective on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Raymond James lowered Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price on the stock. in a report on Friday, November 22nd. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $175.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Finally, Barclays dropped their target price on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $163.88.

Tenet Healthcare Stock Performance

Shares of THC opened at $130.48 on Tuesday. The company’s 50 day simple moving average is $133.09 and its 200-day simple moving average is $147.25. Tenet Healthcare has a 12-month low of $88.98 and a 12-month high of $171.20. The firm has a market cap of $12.41 billion, a PE ratio of 4.05, a price-to-earnings-growth ratio of 1.02 and a beta of 2.05. 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) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. As a group, equities analysts predict that Tenet Healthcare will post 12.24 EPS for the current year.

Institutional Trading of Tenet Healthcare

A number of institutional investors and hedge funds have recently modified their holdings of the business. New Wave Wealth Advisors LLC acquired a new stake in shares of Tenet Healthcare in the 4th quarter worth approximately $343,000. Swedbank AB lifted its position in Tenet Healthcare by 100.0% in the fourth quarter. Swedbank AB now owns 40,000 shares of the company’s stock worth $5,049,000 after purchasing an additional 20,000 shares during the period. Signet Financial Management LLC acquired a new position in shares of Tenet Healthcare during the 4th quarter valued at $1,526,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Tenet Healthcare in the 4th quarter worth $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Tenet Healthcare during the fourth quarter valued at about $5,892,000. 95.44% of the stock is owned by institutional investors and hedge funds.

About Tenet Healthcare

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.