StockNews.com Downgrades Tenet Healthcare (NYSE:THC) to Hold

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

A number of other equities research analysts have also recently weighed in on THC. Cantor Fitzgerald restated an “overweight” rating and issued a $177.00 price target on shares of Tenet Healthcare in a report on Thursday, February 13th. Wells Fargo & Company cut Tenet Healthcare from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $205.00 to $150.00 in a report on Monday, November 25th. KeyCorp lowered their price target on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $175.00 price target on shares of Tenet Healthcare in a report on Tuesday, December 17th. Finally, TD Cowen started coverage on Tenet Healthcare in a report on Wednesday, February 26th. They set a “buy” rating and a $175.00 target price on the stock. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $163.88.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $126.21 on Wednesday. The company has a market cap of $12.01 billion, a price-to-earnings ratio of 3.92, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. The stock has a 50 day simple moving average of $132.72 and a 200-day simple moving average of $146.39. Tenet Healthcare has a 12-month low of $90.03 and a 12-month high of $171.20. 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 issued its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. On average, equities analysts forecast that Tenet Healthcare will post 12.24 EPS for the current year.

Institutional Investors Weigh In On Tenet Healthcare

Several hedge funds have recently made changes to their positions in the business. Coldstream Capital Management Inc. boosted its holdings in shares of Tenet Healthcare by 2.2% during the third quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company’s stock worth $566,000 after purchasing an additional 74 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Tenet Healthcare by 9.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company’s stock worth $119,000 after buying an additional 80 shares during the period. GeoWealth Management LLC raised its position in shares of Tenet Healthcare by 39.8% in the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock worth $37,000 after buying an additional 84 shares during the period. Spire Wealth Management raised its position in shares of Tenet Healthcare by 19.5% in the 4th quarter. Spire Wealth Management now owns 558 shares of the company’s stock worth $70,000 after buying an additional 91 shares during the period. Finally, CIBC Private Wealth Group LLC raised its position in shares of Tenet Healthcare by 1.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company’s stock worth $732,000 after buying an additional 92 shares during the period. Institutional investors and hedge funds 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.