Barclays Issues Pessimistic Forecast for Tenet Healthcare (NYSE:THC) Stock Price

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

THC has been the subject of a number of other research reports. Raymond James downgraded Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price for the company. in a research report on Friday, November 22nd. Wells Fargo & Company downgraded shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $205.00 to $150.00 in a research report on Monday, November 25th. Cantor Fitzgerald lifted their price target on shares of Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group cut shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $196.00 to $140.00 in a research note on Monday, December 16th. Finally, Truist Financial dropped their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tenet Healthcare presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.19.

Tenet Healthcare Stock Performance

Shares of NYSE:THC opened at $126.29 on Thursday. The business has a fifty day moving average of $133.55 and a 200-day moving average of $148.37. The firm has a market cap of $12.01 billion, a PE ratio of 4.05, a price-to-earnings-growth ratio of 0.63 and a beta of 2.05. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. Tenet Healthcare has a twelve month low of $86.90 and a twelve month high of $171.20.

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

Hedge Funds Weigh In On Tenet Healthcare

Several institutional investors and hedge funds have recently modified their holdings of THC. FMR LLC lifted its stake in Tenet Healthcare by 88.0% in the third quarter. FMR LLC now owns 7,700,693 shares of the company’s stock valued at $1,279,855,000 after buying an additional 3,604,161 shares in the last quarter. Geode Capital Management LLC lifted its position in Tenet Healthcare by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company’s stock valued at $268,591,000 after acquiring an additional 71,454 shares in the last quarter. Norges Bank bought a new position in Tenet Healthcare during the 4th quarter worth about $190,819,000. Allianz Asset Management GmbH raised its stake in shares of Tenet Healthcare by 15.1% in the 4th quarter. Allianz Asset Management GmbH now owns 577,143 shares of the company’s stock valued at $72,853,000 after purchasing an additional 75,688 shares during the period. Finally, Wealthfront Advisers LLC acquired a new position in shares of Tenet Healthcare during the fourth quarter worth about $69,059,000. 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.