Tenet Healthcare (NYSE:THC) Given New $161.00 Price Target at Barclays

Tenet Healthcare (NYSE:THC) had its price objective cut by investment analysts at Barclays from $190.00 to $161.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 27.48% from the stock’s previous close.

A number of other research analysts also recently commented on THC. Wells Fargo & Company downgraded shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $205.00 to $150.00 in a research report on Monday, November 25th. Raymond James downgraded Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target on the stock. in a research report on Friday, November 22nd. KeyCorp cut their price objective on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $175.00 target price on shares of Tenet Healthcare in a report on Tuesday, December 17th. Finally, StockNews.com cut shares of Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 17th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tenet Healthcare currently has an average rating of “Moderate Buy” and an average price target of $163.19.

Tenet Healthcare Trading Down 9.0 %

Tenet Healthcare stock opened at $126.29 on Thursday. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52. The firm has a 50-day moving average of $133.55 and a 200-day moving average of $148.37. The company has a market cap of $12.01 billion, a price-to-earnings ratio of 4.05, a P/E/G ratio of 0.63 and a beta of 2.05. Tenet Healthcare has a one year low of $86.90 and a one year high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results 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 return on equity of 24.05% and a net margin of 14.91%. On average, equities analysts expect that Tenet Healthcare will post 11.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tenet Healthcare

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. New Wave Wealth Advisors LLC bought a new stake in shares of Tenet Healthcare during the 4th quarter valued at $343,000. Swedbank AB lifted its position in Tenet Healthcare by 100.0% during 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. Legacy Capital Group California Inc. bought a new position in Tenet Healthcare in the 3rd quarter valued at about $1,055,000. Signet Financial Management LLC acquired a new position in shares of Tenet Healthcare in the 4th quarter valued at approximately $1,526,000. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of Tenet Healthcare during the 4th quarter worth approximately $410,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

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.