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

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

Several other research analysts have also recently commented on THC. The Goldman Sachs Group cut Tenet Healthcare from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $175.00 target price on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $177.00 target price on shares of Tenet Healthcare in a research note on Thursday, February 13th. Barclays lowered their target price on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Finally, Wells Fargo & Company cut Tenet Healthcare from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.88.

Tenet Healthcare Price Performance

THC stock opened at $126.21 on Wednesday. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. The company has a market capitalization of $12.01 billion, a PE ratio of 3.92, a P/E/G ratio of 1.02 and a beta of 2.06. Tenet Healthcare has a 12-month low of $90.03 and a 12-month high of $171.20. The business’s fifty day moving average price is $132.72 and its 200 day moving average price is $146.39.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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, sell-side analysts anticipate that Tenet Healthcare will post 12.24 EPS for the current year.

Institutional Trading of Tenet Healthcare

Several institutional investors and hedge funds have recently made changes to their positions in THC. Plato Investment Management Ltd purchased a new stake in Tenet Healthcare during the 3rd quarter valued at approximately $28,000. True Wealth Design LLC purchased a new stake in Tenet Healthcare during the 3rd quarter valued at approximately $38,000. Colonial Trust Co SC raised its stake in Tenet Healthcare by 85.7% during the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company’s stock valued at $31,000 after acquiring an additional 114 shares during the last quarter. GeoWealth Management LLC raised its stake in Tenet Healthcare by 39.8% during the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock valued at $37,000 after acquiring an additional 84 shares during the last quarter. Finally, WR Wealth Planners LLC raised its stake in Tenet Healthcare by 2,836.4% during the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock valued at $41,000 after acquiring an additional 312 shares during the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

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.