Tenet Healthcare’s (THC) Overweight Rating Reiterated at JPMorgan Chase & Co.

Tenet Healthcare (NYSE:THC)‘s stock had its “overweight” rating reaffirmed by research analysts at JPMorgan Chase & Co. in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $175.00 target price on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 30.86% from the company’s previous close.

THC has been the subject of several other research reports. KeyCorp started coverage on Tenet Healthcare in a report on Friday, October 11th. They set an “overweight” rating and a $200.00 price target for the company. Royal Bank of Canada boosted their price objective on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. UBS Group boosted their price objective on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Barclays boosted their price objective on Tenet Healthcare from $171.00 to $190.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group cut Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $196.00 to $140.00 in a research report on Monday. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Tenet Healthcare has a consensus rating of “Buy” and an average target price of $166.88.

Tenet Healthcare Trading Down 2.2 %

NYSE THC opened at $133.73 on Tuesday. The company has a market cap of $12.72 billion, a price-to-earnings ratio of 4.28, a P/E/G ratio of 0.63 and a beta of 2.06. Tenet Healthcare has a 52 week low of $73.21 and a 52 week high of $171.20. The business has a 50 day moving average price of $151.70 and a 200-day moving average price of $149.39. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.60. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The business had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter in the prior year, the company posted $1.44 earnings per share. Tenet Healthcare’s revenue was up 1.1% compared to the same quarter last year. As a group, equities analysts expect that Tenet Healthcare will post 11.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Lisa Y. Foo sold 4,000 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $155.94, for a total transaction of $623,760.00. Following the sale, the executive vice president now owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. This represents a 20.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.93% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tenet Healthcare

Institutional investors have recently added to or reduced their stakes in the business. Legacy Capital Group California Inc. bought a new position in Tenet Healthcare in the 3rd quarter worth about $1,055,000. Caprock Group LLC bought a new position in Tenet Healthcare in the 2nd quarter worth about $477,000. Intech Investment Management LLC increased its stake in Tenet Healthcare by 44.4% in the 3rd quarter. Intech Investment Management LLC now owns 79,266 shares of the company’s stock worth $13,174,000 after acquiring an additional 24,385 shares during the last quarter. Swiss National Bank increased its stake in Tenet Healthcare by 8.7% in the 3rd quarter. Swiss National Bank now owns 190,800 shares of the company’s stock worth $31,711,000 after acquiring an additional 15,200 shares during the last quarter. Finally, Hancock Whitney Corp increased its stake in Tenet Healthcare by 175.9% in the 3rd quarter. Hancock Whitney Corp now owns 94,826 shares of the company’s stock worth $15,760,000 after acquiring an additional 60,453 shares during 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.