Tenet Healthcare (NYSE:THC) Downgraded by StockNews.com to “Hold”

Tenet Healthcare (NYSE:THC) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other analysts have also recently commented on the stock. KeyCorp reduced their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $175.00 price target on shares of Tenet Healthcare in a research note on Tuesday, December 17th. The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $196.00 to $140.00 in a research note on Monday, December 16th. Raymond James cut Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target for the company. in a research report on Friday, November 22nd. Finally, Royal Bank of Canada increased their price objective on shares of Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tenet Healthcare presently has a consensus rating of “Moderate Buy” and an average target price of $163.19.

Tenet Healthcare Price Performance

Shares of THC opened at $133.40 on Thursday. The firm has a market capitalization of $12.69 billion, a PE ratio of 4.27, a P/E/G ratio of 0.63 and a beta of 2.05. The stock’s 50 day moving average is $133.32 and its two-hundred day moving average is $148.13. Tenet Healthcare has a twelve month low of $88.57 and a twelve month high of $171.20. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping 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%. Research analysts anticipate that Tenet Healthcare will post 11.37 earnings per share for the current year.

Institutional Trading of Tenet Healthcare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in THC. Plato Investment Management Ltd acquired a new stake in shares of Tenet Healthcare in the third quarter worth approximately $28,000. Financial Management Professionals Inc. boosted its holdings in shares of Tenet Healthcare by 2,222.2% in the 3rd quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock valued at $35,000 after purchasing an additional 200 shares during the last quarter. GeoWealth Management LLC increased its holdings in shares of Tenet Healthcare by 39.8% during 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 last quarter. True Wealth Design LLC acquired a new position in Tenet Healthcare in the third quarter valued at $38,000. Finally, WR Wealth Planners LLC increased its stake in Tenet Healthcare by 2,836.4% during the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock worth $41,000 after acquiring an additional 312 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

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.