Tenet Healthcare (NYSE:THC) Rating Increased to Buy at StockNews.com

Tenet Healthcare (NYSE:THC) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

A number of other brokerages have also commented on THC. UBS Group lifted their price target on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. The Goldman Sachs Group cut Tenet Healthcare from a “buy” rating to a “neutral” rating and decreased their price target for the company from $196.00 to $140.00 in a research note on Monday, December 16th. Barclays reduced their target price on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Truist Financial dropped their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, 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. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $163.19.

Tenet Healthcare Stock Performance

Shares of NYSE THC traded up $3.26 during midday trading on Tuesday, hitting $134.82. 1,385,709 shares of the company’s stock were exchanged, compared to its average volume of 1,348,611. Tenet Healthcare has a 12 month low of $88.98 and a 12 month high of $171.20. The company’s 50 day moving average price is $132.90 and its 200 day moving average price is $147.47. 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 firm has a market capitalization 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 (NYSE:THC) last issued its 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%. As a group, analysts predict that Tenet Healthcare will post 12.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tenet Healthcare

Institutional investors have recently bought and sold shares of the business. Signaturefd LLC boosted its stake in shares of Tenet Healthcare by 17.6% during the 3rd quarter. Signaturefd LLC now owns 628 shares of the company’s stock worth $104,000 after purchasing an additional 94 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Tenet Healthcare by 16,520.0% in the third quarter. International Assets Investment Management LLC now owns 18,282 shares of the company’s stock worth $3,038,000 after buying an additional 18,172 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Tenet Healthcare by 122.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 8,009 shares of the company’s stock valued at $1,331,000 after acquiring an additional 4,414 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Tenet Healthcare by 4.8% during the third quarter. State of Alaska Department of Revenue now owns 11,139 shares of the company’s stock valued at $1,851,000 after purchasing an additional 515 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in Tenet Healthcare by 72.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 16,090 shares of the company’s stock valued at $2,674,000 after buying an additional 6,759 shares in 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.