Tenet Healthcare (NYSE:THC) Lowered to Outperform Rating by Raymond James

Raymond James downgraded shares of Tenet Healthcare (NYSE:THC) from a strong-buy rating to an outperform rating in a research note released on Friday, MarketBeat reports. Raymond James currently has $195.00 price target on the stock.

THC has been the subject of a number of other reports. Citigroup raised their price target on Tenet Healthcare from $139.00 to $171.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. KeyCorp started coverage on Tenet Healthcare in a research note on Friday, October 11th. They issued an “overweight” rating and a $200.00 price target for the company. Barclays raised their price target on Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. The Goldman Sachs Group lifted their target price on Tenet Healthcare from $173.00 to $196.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, UBS Group boosted their price target on Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tenet Healthcare presently has an average rating of “Buy” and an average price target of $171.63.

Tenet Healthcare Stock Down 2.9 %

Shares of Tenet Healthcare stock opened at $143.57 on Friday. The business’s 50 day simple moving average is $158.86 and its 200 day simple moving average is $147.87. Tenet Healthcare has a 52-week low of $65.90 and a 52-week high of $171.20. The firm has a market cap of $13.65 billion, a PE ratio of 4.60, a P/E/G ratio of 0.66 and a beta of 2.15. 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 (NYSE:THC) last announced its earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.60. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The business had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter last year, the firm earned $1.44 EPS. Tenet Healthcare’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, analysts predict that Tenet Healthcare will post 11.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Tenet Healthcare

In related news, Director Richard W. Fisher sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total transaction of $327,340.00. Following the transaction, the director now directly owns 14,227 shares of the company’s stock, valued at approximately $2,328,533.09. This represents a 12.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa Y. Foo sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $155.94, for a total value of $623,760.00. Following the completion of the sale, the executive vice president now directly owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. This trade represents a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,599 shares of company stock worth $2,830,834. Insiders own 0.93% of the company’s stock.

Institutional Trading of Tenet Healthcare

Institutional investors and hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC increased its position in shares of Tenet Healthcare by 102.9% during the first quarter. Acadian Asset Management LLC now owns 4,455 shares of the company’s stock valued at $468,000 after acquiring an additional 2,259 shares during the last quarter. Quadrature Capital Ltd increased its position in shares of Tenet Healthcare by 203.3% during the first quarter. Quadrature Capital Ltd now owns 11,091 shares of the company’s stock valued at $1,166,000 after acquiring an additional 7,434 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Tenet Healthcare by 11.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,915,000 shares of the company’s stock valued at $831,947,000 after acquiring an additional 790,684 shares during the last quarter. Bellevue Group AG increased its position in shares of Tenet Healthcare by 193.3% during the first quarter. Bellevue Group AG now owns 4,244 shares of the company’s stock valued at $446,000 after acquiring an additional 2,797 shares during the last quarter. Finally, Paloma Partners Management Co bought a new position in Tenet Healthcare during the first quarter valued at $354,000. 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.