Tenet Healthcare (NYSE:THC) Now Covered by Analysts at TD Cowen

TD Cowen began coverage on shares of Tenet Healthcare (NYSE:THC) in a research report report published on Wednesday, MarketBeat.com reports. The brokerage issued a buy rating and a $175.00 target price on the stock.

A number of other equities analysts have also recently weighed in on THC. The Goldman Sachs Group cut Tenet Healthcare from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. Wells Fargo & Company lowered shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $205.00 to $150.00 in a report on Monday, November 25th. StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Tuesday. Barclays lowered their price target on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $175.00 price objective on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $163.88.

Tenet Healthcare Stock Performance

Shares of THC opened at $131.81 on Wednesday. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The firm’s 50 day moving average is $132.99 and its 200-day moving average is $147.36. Tenet Healthcare has a 12-month low of $88.98 and a 12-month high of $171.20. The stock has a market capitalization of $12.54 billion, a P/E ratio of 4.09, a P/E/G ratio of 1.02 and a beta of 2.05.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results 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%. Equities research analysts anticipate that Tenet Healthcare will post 12.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Tenet Healthcare

Large investors have recently bought and sold shares of the business. Plato Investment Management Ltd bought a new stake in shares of Tenet Healthcare during the 3rd quarter worth about $28,000. Colonial Trust Co SC boosted its position in Tenet Healthcare by 85.7% during the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company’s stock worth $31,000 after purchasing an additional 114 shares during the period. GeoWealth Management LLC grew its holdings in Tenet Healthcare by 39.8% during the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock valued at $37,000 after purchasing an additional 84 shares during the last quarter. True Wealth Design LLC acquired a new stake in shares of Tenet Healthcare in the third quarter worth $38,000. Finally, WR Wealth Planners LLC boosted its holdings in shares of Tenet Healthcare by 2,836.4% during the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock worth $41,000 after buying an additional 312 shares during the period. 95.44% of the stock is currently owned by 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.