Tenet Healthcare (NYSE:THC) Coverage Initiated at TD Cowen

Equities researchers at TD Cowen began coverage on shares of Tenet Healthcare (NYSE:THC) in a research report issued on Wednesday, MarketBeat.com reports. The firm set a “buy” rating and a $175.00 price target on the stock. TD Cowen’s price objective suggests a potential upside of 34.12% from the company’s previous close.

Several other equities research analysts have also recently issued reports on THC. Cantor Fitzgerald reiterated an “overweight” rating and issued a $177.00 price target on shares of Tenet Healthcare in a research note on Thursday, February 13th. Wells Fargo & Company lowered Tenet Healthcare from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $205.00 to $150.00 in a report on Monday, November 25th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $175.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Raymond James lowered shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price on the stock. in a report on Friday, November 22nd. Finally, KeyCorp reduced their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.88.

Tenet Healthcare Stock Performance

THC opened at $130.48 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 company has a market capitalization of $12.41 billion, a PE ratio of 4.05, a price-to-earnings-growth ratio of 1.02 and a beta of 2.05. The business has a fifty day simple moving average of $133.09 and a 200 day simple moving average of $147.25. Tenet Healthcare has a 1 year low of $88.98 and a 1 year high of $171.20.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results 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 net margin of 15.48% and a return on equity of 21.88%. Research analysts expect that Tenet Healthcare will post 12.24 EPS for the current year.

Hedge Funds Weigh In On Tenet Healthcare

Large investors have recently bought and sold shares of the company. Coldstream Capital Management Inc. grew its holdings in Tenet Healthcare by 2.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company’s stock worth $566,000 after acquiring an additional 74 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Tenet Healthcare by 9.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company’s stock worth $119,000 after purchasing an additional 80 shares during the last quarter. GeoWealth Management LLC raised its position in Tenet Healthcare by 39.8% during the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock worth $37,000 after purchasing an additional 84 shares during the last quarter. Spire Wealth Management lifted its stake in shares of Tenet Healthcare by 19.5% in the fourth quarter. Spire Wealth Management now owns 558 shares of the company’s stock worth $70,000 after acquiring an additional 91 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its position in shares of Tenet Healthcare by 1.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company’s stock worth $732,000 after purchasing an additional 92 shares during the period. 95.44% of the stock is currently owned by institutional investors.

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.