Tenet Healthcare (NYSE:THC) Stock Rating Upgraded by StockNews.com

Tenet Healthcare (NYSE:THC) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Several other equities research analysts also recently weighed in on the stock. The Goldman Sachs Group downgraded shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $196.00 to $140.00 in a report on Monday, December 16th. TD Cowen initiated coverage on shares of Tenet Healthcare in a research note on Wednesday, February 26th. They issued a “buy” rating and a $175.00 price target for the company. Barclays lowered their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $175.00 price target on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $177.00 price objective on shares of Tenet Healthcare in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $163.88.

Tenet Healthcare Stock Up 2.7 %

THC stock opened at $122.76 on Thursday. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The firm’s 50-day simple moving average is $132.46 and its 200 day simple moving average is $144.75. The stock has a market cap of $11.68 billion, a PE ratio of 3.81, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. Tenet Healthcare has a fifty-two week low of $90.03 and a fifty-two week high of $171.20.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts predict that Tenet Healthcare will post 12.24 EPS for the current year.

Insider Activity

In related news, Director J Robert Kerrey sold 9,525 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the sale, the director now directly owns 27,378 shares in the company, valued at approximately $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in THC. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Tenet Healthcare during the fourth quarter worth $8,783,000. Forum Financial Management LP raised its stake in shares of Tenet Healthcare by 43.5% during the 4th quarter. Forum Financial Management LP now owns 2,469 shares of the company’s stock worth $312,000 after purchasing an additional 749 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Tenet Healthcare in the 4th quarter valued at approximately $2,773,000. Vise Technologies Inc. increased its holdings in Tenet Healthcare by 28.4% in the fourth quarter. Vise Technologies Inc. now owns 1,613 shares of the company’s stock worth $204,000 after buying an additional 357 shares during the last quarter. Finally, MidWestOne Financial Group Inc. lifted its stake in Tenet Healthcare by 6.7% in the fourth quarter. MidWestOne Financial Group Inc. now owns 11,822 shares of the company’s stock valued at $1,492,000 after acquiring an additional 744 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.