Tenet Healthcare (NYSE:THC) Upgraded at StockNews.com

StockNews.com upgraded shares of Tenet Healthcare (NYSE:THC) from a hold rating to a buy rating in a report issued on Thursday.

Several other brokerages also recently issued reports on THC. KeyCorp reduced their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Truist Financial decreased their price target on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Barclays cut their price objective on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $177.00 price target on shares of Tenet Healthcare in a research report on Thursday, February 13th. Finally, Raymond James cut 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 research note on Friday, November 22nd. 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $163.88.

Tenet Healthcare Price Performance

THC opened at $122.76 on Thursday. Tenet Healthcare has a 1 year low of $90.03 and a 1 year high of $171.20. The company’s 50 day simple moving average is $132.46 and its 200 day simple moving average is $144.62. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The stock has a market capitalization of $11.68 billion, a PE ratio of 3.81, a P/E/G ratio of 1.02 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data 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%. As a group, sell-side analysts expect that Tenet Healthcare will post 12.24 EPS for the current year.

Insiders Place Their Bets

In related news, Director J Robert Kerrey sold 9,525 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the sale, the director now directly owns 27,378 shares of the company’s stock, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.93% of the company’s stock.

Institutional Trading of Tenet Healthcare

A number of hedge funds have recently bought and sold shares of THC. Assetmark Inc. raised its stake 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 raised its stake in shares of Tenet Healthcare by 31.8% in the 3rd quarter. Atria Investments Inc now owns 3,871 shares of the company’s stock valued at $643,000 after buying an additional 935 shares in the last quarter. Sigma Planning Corp acquired a new position in shares of Tenet Healthcare in the 3rd quarter valued at $605,000. Crossmark Global Holdings Inc. raised its stake in shares of Tenet Healthcare by 34.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,187 shares of the company’s stock valued at $1,028,000 after buying an additional 1,600 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its stake in shares of Tenet Healthcare by 36.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 521 shares of the company’s stock valued at $87,000 after buying an additional 138 shares in the last quarter. 95.44% of the stock is 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.