StockNews.com Downgrades Tenet Healthcare (NYSE:THC) to Hold

Tenet Healthcare (NYSE:THC) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

A number of other equities analysts also recently commented on THC. KeyCorp dropped their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Truist Financial dropped their price objective on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Cantor Fitzgerald reiterated an “overweight” rating and set a $177.00 price objective on shares of Tenet Healthcare in a research note on Thursday, February 13th. Wells Fargo & Company downgraded shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $205.00 to $150.00 in a research note on Monday, November 25th. Finally, Barclays dropped 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. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $163.88.

Tenet Healthcare Stock Down 1.4 %

Shares of NYSE THC opened at $122.77 on Wednesday. The firm’s 50-day moving average price is $132.79 and its 200-day moving average price is $146.53. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. The stock has a market capitalization of $11.68 billion, a price-to-earnings ratio of 3.81, a P/E/G ratio of 1.02 and a beta of 2.05. Tenet Healthcare has a 12-month low of $90.03 and a 12-month high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. On average, equities research analysts anticipate that Tenet Healthcare will post 12.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Tenet Healthcare

A number of large investors have recently made changes to their positions in THC. FMR LLC grew its stake in Tenet Healthcare by 88.0% in the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock valued at $1,279,855,000 after acquiring an additional 3,604,161 shares during the last quarter. Geode Capital Management LLC grew its stake in Tenet Healthcare by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company’s stock valued at $268,591,000 after acquiring an additional 71,454 shares during the last quarter. Norges Bank acquired a new stake in Tenet Healthcare in the 4th quarter valued at about $190,819,000. Dimensional Fund Advisors LP grew its stake in Tenet Healthcare by 22.4% in 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 grew its stake in Tenet Healthcare by 20.8% in the 4th quarter. AQR Capital Management LLC now owns 872,117 shares of the company’s stock valued at $110,087,000 after acquiring an additional 150,361 shares during the last quarter. 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.