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

StockNews.com downgraded shares of Tenet Healthcare (NYSE:THC) from a buy rating to a hold rating in a report issued on Thursday morning.

Other research analysts have also issued reports about the stock. UBS Group upped their target price on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $196.00 to $140.00 in a research note on Monday, December 16th. Wells Fargo & Company downgraded Tenet Healthcare from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $177.00 price target on shares of Tenet Healthcare in a research note on Thursday. Finally, Barclays lowered 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. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Tenet Healthcare has an average rating of “Moderate Buy” and a consensus target price of $163.19.

Tenet Healthcare Price Performance

Shares of THC opened at $133.02 on Thursday. The firm has a market capitalization of $12.65 billion, a PE ratio of 4.26, a P/E/G ratio of 0.63 and a beta of 2.05. The stock’s 50 day moving average is $133.43 and its two-hundred day moving average is $148.26. Tenet Healthcare has a twelve month low of $87.06 and a twelve month high of $171.20. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35.

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

Hedge Funds Weigh In On Tenet Healthcare

Several institutional investors have recently added to or reduced their stakes in THC. FMR LLC grew its holdings in Tenet Healthcare by 88.0% in the third quarter. FMR LLC now owns 7,700,693 shares of the company’s stock valued at $1,279,855,000 after purchasing an additional 3,604,161 shares during the period. Geode Capital Management LLC increased its holdings in shares of Tenet Healthcare by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company’s stock worth $268,591,000 after buying an additional 71,454 shares during the last quarter. Norges Bank purchased a new position in shares of Tenet Healthcare in the 4th quarter worth $190,819,000. Allianz Asset Management GmbH boosted its holdings in Tenet Healthcare by 15.1% in the fourth quarter. Allianz Asset Management GmbH now owns 577,143 shares of the company’s stock valued at $72,853,000 after acquiring an additional 75,688 shares during the last quarter. Finally, Wealthfront Advisers LLC acquired a new stake in Tenet Healthcare during the fourth quarter worth about $69,059,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

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.