Tenet Healthcare (NYSE:THC) Stock Price Down 7.1% – Time to Sell?

Tenet Healthcare Co. (NYSE:THC)’s share price traded down 7.1% during mid-day trading on Friday . The stock traded as low as $117.00 and last traded at $121.20. 427,692 shares traded hands during trading, a decline of 68% from the average session volume of 1,324,976 shares. The stock had previously closed at $130.48.

Analyst Ratings Changes

THC has been the subject of a number of research reports. Truist Financial dropped their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, January 6th. The Goldman Sachs Group lowered Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their price objective for the company from $196.00 to $140.00 in a research report on Monday, December 16th. KeyCorp dropped their price target on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Barclays reduced their price objective on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Finally, Wells Fargo & Company lowered shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $205.00 to $150.00 in a report on Monday, November 25th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Tenet Healthcare has a consensus rating of “Moderate Buy” and a consensus target price of $163.88.

Tenet Healthcare Price Performance

The stock has a 50 day moving average of $133.09 and a 200-day moving average of $147.25. The stock has a market capitalization of $12.04 billion, a P/E ratio of 3.93, a price-to-earnings-growth ratio of 1.02 and a beta of 2.05. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating 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 Co. will post 12.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of THC. Coldstream Capital Management Inc. grew its position in shares of Tenet Healthcare by 2.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company’s stock worth $566,000 after buying an additional 74 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Tenet Healthcare by 9.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company’s stock valued at $119,000 after purchasing an additional 80 shares during the period. GeoWealth Management LLC raised its holdings in shares of Tenet Healthcare by 39.8% in the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock valued at $37,000 after purchasing an additional 84 shares in the last quarter. Spire Wealth Management boosted its stake in shares of Tenet Healthcare by 19.5% during the fourth quarter. Spire Wealth Management now owns 558 shares of the company’s stock valued at $70,000 after purchasing an additional 91 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in Tenet Healthcare by 1.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company’s stock worth $732,000 after buying an additional 92 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

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.