Tenet Healthcare’s (THC) Overweight Rating Reiterated at JPMorgan Chase & Co.

Tenet Healthcare (NYSE:THC)‘s stock had its “overweight” rating restated by equities researchers at JPMorgan Chase & Co. in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. They currently have a $175.00 price target on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 37.30% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Cantor Fitzgerald boosted 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. Barclays upped their target price on Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Royal Bank of Canada lifted their price target on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. KeyCorp assumed coverage on Tenet Healthcare in a report on Friday, October 11th. They issued an “overweight” rating and a $200.00 price objective for the company. Finally, UBS Group upped their price target on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $166.88.

Tenet Healthcare Stock Down 3.8 %

Tenet Healthcare stock opened at $127.46 on Tuesday. The stock’s fifty day moving average is $150.81 and its two-hundred day moving average is $149.22. The stock has a market cap of $12.12 billion, a PE ratio of 4.08, a P/E/G ratio of 0.61 and a beta of 2.06. Tenet Healthcare has a 1-year low of $73.21 and a 1-year high of $171.20. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52.

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

Insider Buying and Selling at Tenet Healthcare

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legacy Capital Group California Inc. purchased a new stake in shares of Tenet Healthcare during the 3rd quarter worth approximately $1,055,000. Caprock Group LLC acquired a new position in Tenet Healthcare during the second quarter worth $477,000. Intech Investment Management LLC grew its holdings in Tenet Healthcare by 44.4% in the third quarter. Intech Investment Management LLC now owns 79,266 shares of the company’s stock valued at $13,174,000 after purchasing an additional 24,385 shares during the last quarter. Swiss National Bank increased its position in shares of Tenet Healthcare by 8.7% in the third quarter. Swiss National Bank now owns 190,800 shares of the company’s stock valued at $31,711,000 after buying an additional 15,200 shares in the last quarter. Finally, Hancock Whitney Corp boosted its position in shares of Tenet Healthcare by 175.9% in the 3rd quarter. Hancock Whitney Corp now owns 94,826 shares of the company’s stock worth $15,760,000 after buying an additional 60,453 shares in the last quarter. 95.44% of the stock is currently 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.