Tenet Healthcare (NYSE:THC) Rating Lowered to Hold at StockNews.com

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

Several other equities analysts have also commented on the company. The Goldman Sachs Group lowered Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their price target for the company from $196.00 to $140.00 in a research note on Monday, December 16th. Royal Bank of Canada raised their price objective on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Truist Financial cut their price objective on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Raymond James lowered Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price objective for the company. in a research note on Friday, November 22nd. Finally, UBS Group increased their target price on Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $163.19.

Tenet Healthcare Stock Down 0.1 %

THC opened at $133.40 on Thursday. The stock has a market capitalization of $12.69 billion, a price-to-earnings ratio of 4.27, a PEG 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 has a 50 day moving average price of $133.32 and a 200-day moving average price of $148.13. Tenet Healthcare has a twelve month low of $88.57 and a twelve month high of $171.20.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, beating the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. Equities research analysts forecast that Tenet Healthcare will post 11.37 earnings per share for the current year.

Institutional Investors Weigh In On Tenet Healthcare

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Tenet Healthcare by 88.0% during the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock worth $1,279,855,000 after purchasing an additional 3,604,161 shares during the period. Geode Capital Management LLC boosted its stake in shares of Tenet Healthcare by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company’s stock worth $268,591,000 after buying an additional 71,454 shares during the period. Norges Bank purchased a new position in shares of Tenet Healthcare during the fourth quarter worth about $190,819,000. Dimensional Fund Advisors LP raised its stake in Tenet Healthcare by 22.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company’s stock valued at $188,524,000 after acquiring an additional 272,906 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in Tenet Healthcare by 20.8% during the 4th quarter. AQR Capital Management LLC now owns 872,117 shares of the company’s stock worth $110,087,000 after acquiring an additional 150,361 shares during the period. Hedge funds and other institutional investors own 95.44% of the company’s stock.

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.