Tenet Healthcare (NYSE:THC) Downgraded by StockNews.com to “Hold”

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

Other analysts have also issued research reports about the company. TD Cowen initiated coverage on Tenet Healthcare in a report on Wednesday, February 26th. They set a “buy” rating and a $175.00 target price on the stock. Barclays dropped 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. Cantor Fitzgerald reissued an “overweight” rating and set a $177.00 price target on shares of Tenet Healthcare in a research report on Thursday, February 13th. Wells Fargo & Company downgraded Tenet Healthcare from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. Finally, Truist Financial lowered their price target on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tenet Healthcare has a consensus rating of “Moderate Buy” and a consensus price target of $163.88.

Tenet Healthcare Stock Performance

Shares of Tenet Healthcare stock opened at $127.64 on Wednesday. The firm has a market cap of $12.14 billion, a price-to-earnings ratio of 3.96, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. The stock’s 50-day moving average is $132.67 and its 200-day moving average is $146.24. Tenet Healthcare has a one year low of $90.03 and a one year high of $171.20. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 EPS 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%. Equities analysts predict that Tenet Healthcare will post 12.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tenet Healthcare

A number of hedge funds have recently added to or reduced their stakes in THC. Coldstream Capital Management Inc. boosted its holdings in shares of Tenet Healthcare by 2.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company’s stock valued at $566,000 after purchasing an additional 74 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Tenet Healthcare by 9.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company’s stock worth $119,000 after buying an additional 80 shares during the period. GeoWealth Management LLC raised its position in shares of Tenet Healthcare by 39.8% in the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock worth $37,000 after acquiring an additional 84 shares in the last quarter. Spire Wealth Management raised its position in shares of Tenet Healthcare by 19.5% in the 4th quarter. Spire Wealth Management now owns 558 shares of the company’s stock worth $70,000 after acquiring an additional 91 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in shares of Tenet Healthcare by 1.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company’s stock worth $732,000 after acquiring 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.