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 report report published on Thursday morning.

Several other analysts also recently commented on THC. Cantor Fitzgerald restated an “overweight” rating and set a $177.00 target price on shares of Tenet Healthcare in a report on Thursday, February 13th. TD Cowen began coverage on shares of Tenet Healthcare in a report on Wednesday, February 26th. They set a “buy” rating and a $175.00 target price on the stock. Raymond James downgraded shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price objective on the stock. in a report on Friday, November 22nd. Barclays reduced their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Finally, KeyCorp reduced 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 report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Tenet Healthcare has an average rating of “Moderate Buy” and an average price target of $163.88.

Tenet Healthcare Stock Up 2.7 %

Shares of NYSE THC opened at $122.76 on Thursday. The firm’s 50-day moving average is $132.46 and its 200-day moving average is $144.62. Tenet Healthcare has a 1 year low of $90.03 and a 1 year high of $171.20. The firm has a market capitalization of $11.68 billion, a PE ratio of 3.81, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. 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 released its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping 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%. Equities analysts expect that Tenet Healthcare will post 12.24 EPS for the current year.

Insider Activity

In related news, Director J Robert Kerrey sold 9,525 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the transaction, the director now owns 27,378 shares of the company’s stock, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in THC. Assetmark Inc. boosted its holdings in shares of Tenet Healthcare by 190.3% in the 3rd quarter. Assetmark Inc. now owns 5,446 shares of the company’s stock valued at $905,000 after buying an additional 3,570 shares in the last quarter. Atria Investments Inc boosted its stake in Tenet Healthcare by 31.8% in the 3rd quarter. Atria Investments Inc now owns 3,871 shares of the company’s stock worth $643,000 after purchasing an additional 935 shares in the last quarter. Sigma Planning Corp acquired a new stake in Tenet Healthcare in the 3rd quarter worth approximately $605,000. Crossmark Global Holdings Inc. boosted its stake in Tenet Healthcare by 34.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,187 shares of the company’s stock worth $1,028,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in Tenet Healthcare by 36.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 521 shares of the company’s stock worth $87,000 after purchasing an additional 138 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors.

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.