Barclays Lowers Tenet Healthcare (NYSE:THC) Price Target to $161.00

Tenet Healthcare (NYSE:THC) had its target price lowered by investment analysts at Barclays from $190.00 to $161.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 20.69% from the company’s previous close.

Several other analysts have also weighed in on THC. KeyCorp lowered their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. The Goldman Sachs Group lowered shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and lowered their target price for the company from $196.00 to $140.00 in a research note on Monday, December 16th. Raymond James lowered shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price for the company. in a research note on Friday, November 22nd. Wells Fargo & Company lowered shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $205.00 to $150.00 in a research note on Monday, November 25th. Finally, StockNews.com downgraded shares of Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $163.19.

Tenet Healthcare Stock Down 0.1 %

Shares of NYSE:THC opened at $133.40 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. The company has a fifty day simple moving average of $133.32 and a 200 day simple moving average of $148.13. The firm has a market cap of $12.69 billion, a PE ratio of 4.27, a price-to-earnings-growth ratio of 0.63 and a beta of 2.05. Tenet Healthcare has a 12-month low of $88.57 and a 12-month high of $171.20.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. On average, equities research analysts anticipate that Tenet Healthcare will post 11.37 EPS for the current fiscal year.

Institutional Trading of Tenet Healthcare

A number of hedge funds and other institutional investors have recently modified their holdings of THC. Plato Investment Management Ltd acquired a new stake in shares of Tenet Healthcare in the third quarter valued at $28,000. Financial Management Professionals Inc. lifted its holdings in shares of Tenet Healthcare by 2,222.2% in the third quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock valued at $35,000 after buying an additional 200 shares during the period. GeoWealth Management LLC lifted its holdings in shares of Tenet Healthcare by 39.8% in the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock valued at $37,000 after buying an additional 84 shares during the period. True Wealth Design LLC acquired a new stake in shares of Tenet Healthcare in the third quarter valued at $38,000. Finally, WR Wealth Planners LLC lifted its holdings in shares of Tenet Healthcare by 2,836.4% in the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock valued at $41,000 after buying an additional 312 shares during the period. 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.