Tenet Healthcare (NYSE:THC) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Tenet Healthcare (NYSE:THC) from a hold rating to a buy rating in a research note released on Tuesday.

Several other research firms have also commented on THC. UBS Group boosted their price target on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Raymond James lowered Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target for the company. in a research report on Friday, November 22nd. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $175.00 price target on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $177.00 price target on shares of Tenet Healthcare in a research report on Thursday, February 13th. Finally, Royal Bank of Canada boosted their price target on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.19.

Tenet Healthcare Trading Up 2.5 %

Shares of NYSE THC opened at $134.82 on Tuesday. 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 business has a fifty day simple moving average of $132.90 and a two-hundred day simple moving average of $147.47. The firm has a market cap of $12.82 billion, a PE ratio of 4.18, a price-to-earnings-growth ratio of 1.02 and a beta of 2.05. Tenet Healthcare has a twelve month low of $88.98 and a twelve month high of $171.20.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. Analysts expect that Tenet Healthcare will post 12.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Forum Financial Management LP increased its holdings in shares of Tenet Healthcare by 43.5% in the fourth quarter. Forum Financial Management LP now owns 2,469 shares of the company’s stock valued at $312,000 after purchasing an additional 749 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Tenet Healthcare in the fourth quarter valued at about $2,773,000. Vise Technologies Inc. increased its holdings in shares of Tenet Healthcare by 28.4% in the fourth quarter. Vise Technologies Inc. now owns 1,613 shares of the company’s stock valued at $204,000 after purchasing an additional 357 shares during the period. MidWestOne Financial Group Inc. grew its holdings in Tenet Healthcare by 6.7% during the fourth quarter. MidWestOne Financial Group Inc. now owns 11,822 shares of the company’s stock worth $1,492,000 after acquiring an additional 744 shares during the period. Finally, PharVision Advisers LLC acquired a new stake in Tenet Healthcare during the fourth quarter worth about $359,000. 95.44% of the stock is owned by institutional investors and hedge funds.

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.