Tenet Healthcare (NYSE:THC) Given New $161.00 Price Target at Barclays

Tenet Healthcare (NYSE:THC) had its target price lowered by Barclays from $190.00 to $161.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also recently weighed in on THC. KeyCorp decreased their price target on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. StockNews.com lowered shares of Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 17th. Wells Fargo & Company lowered shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $205.00 to $150.00 in a research report on Monday, November 25th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $175.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Finally, Cantor Fitzgerald boosted their target price on Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $163.19.

Tenet Healthcare Price Performance

NYSE THC opened at $133.02 on Thursday. The company has a market cap of $12.65 billion, a PE ratio of 4.26, a price-to-earnings-growth ratio of 0.63 and a beta of 2.05. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. The firm’s 50-day simple moving average is $133.43 and its two-hundred day simple moving average is $148.26. Tenet Healthcare has a 52 week low of $87.06 and a 52 week high of $171.20.

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, beating 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%. Research analysts predict that Tenet Healthcare will post 11.37 earnings per share for the current year.

Hedge Funds Weigh In On Tenet Healthcare

A number of large investors have recently added to or reduced their stakes in THC. Plato Investment Management Ltd bought a new position in shares of Tenet Healthcare during the third quarter valued at about $28,000. Financial Management Professionals Inc. grew its position in Tenet Healthcare by 2,222.2% during the 3rd quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock worth $35,000 after acquiring an additional 200 shares during the last quarter. True Wealth Design LLC purchased a new position in Tenet Healthcare in the 3rd quarter worth approximately $38,000. WR Wealth Planners LLC boosted its stake in shares of Tenet Healthcare by 2,836.4% during the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock valued at $41,000 after purchasing an additional 312 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Tenet Healthcare by 30.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock worth $59,000 after purchasing an additional 110 shares during the last quarter. Hedge funds and other institutional investors 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.