KeyCorp Issues Pessimistic Forecast for Tenet Healthcare (NYSE:THC) Stock Price

Tenet Healthcare (NYSE:THC) had its price target cut by research analysts at KeyCorp from $200.00 to $185.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price target would suggest a potential upside of 44.25% from the stock’s current price.

THC has been the subject of a number of other reports. Royal Bank of Canada upped their price target on Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. UBS Group boosted their price target on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Raymond James downgraded shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price on the stock. in a research note on Friday, November 22nd. JPMorgan Chase & Co. restated an “overweight” rating and set a $175.00 price target on shares of Tenet Healthcare in a report on Tuesday, December 17th. Finally, Barclays increased 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. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $165.00.

Tenet Healthcare Stock Performance

Shares of NYSE THC traded up $2.64 during trading on Tuesday, reaching $128.25. 185,313 shares of the company traded hands, compared to its average volume of 921,432. The firm’s fifty day simple moving average is $143.47 and its 200 day simple moving average is $148.45. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. The stock has a market cap of $12.20 billion, a P/E ratio of 4.11, a PEG ratio of 0.61 and a beta of 2.06. Tenet Healthcare has a 12-month low of $75.83 and a 12-month high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data 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 company had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the previous year, the firm posted $1.44 EPS. Tenet Healthcare’s revenue was up 1.1% compared to the same quarter last year. As a group, research analysts anticipate that Tenet Healthcare will post 11.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tenet Healthcare 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 value of $623,760.00. Following the sale, the executive vice president now owns 15,566 shares of the company’s stock, valued at $2,427,362.04. This trade represents a 20.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Coldstream Capital Management Inc. increased its stake in shares of Tenet Healthcare by 2.2% during the third quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company’s stock worth $566,000 after acquiring an additional 74 shares during the period. Optas LLC raised its stake in shares of Tenet Healthcare by 3.4% during the 3rd quarter. Optas LLC now owns 2,821 shares of the company’s stock worth $469,000 after buying an additional 93 shares in the last quarter. Signaturefd LLC grew its holdings in Tenet Healthcare by 17.6% during the third quarter. Signaturefd LLC now owns 628 shares of the company’s stock worth $104,000 after acquiring an additional 94 shares during the period. CIBC Asset Management Inc raised its position in Tenet Healthcare by 3.4% in the third quarter. CIBC Asset Management Inc now owns 2,887 shares of the company’s stock worth $480,000 after acquiring an additional 94 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Tenet Healthcare by 20.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 560 shares of the company’s stock worth $74,000 after purchasing an additional 96 shares in the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

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.