Tenet Healthcare (NYSE:THC) Coverage Initiated at TD Cowen

Research analysts at TD Cowen assumed coverage on shares of Tenet Healthcare (NYSE:THC) in a research report issued on Wednesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $175.00 price target on the stock. TD Cowen’s price objective would suggest a potential upside of 36.45% from the stock’s current price.

THC has been the subject of several other reports. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $175.00 target price on shares of Tenet Healthcare in a research report on Tuesday, December 17th. KeyCorp lowered their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Raymond James cut shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target for the company. in a research note on Friday, November 22nd. Barclays dropped their target price on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Finally, Wells Fargo & Company cut Tenet Healthcare from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $205.00 to $150.00 in a research report on Monday, November 25th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tenet Healthcare presently has an average rating of “Moderate Buy” and a consensus target price of $163.88.

Tenet Healthcare Stock Down 4.7 %

THC stock opened at $128.25 on Wednesday. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The company has a 50-day moving average of $132.90 and a two-hundred day moving average of $147.47. The stock has a market capitalization of $12.20 billion, a price-to-earnings ratio of 3.98, a price-to-earnings-growth ratio of 1.02 and a beta of 2.05. Tenet Healthcare has a 52-week low of $88.98 and a 52-week high of $171.20.

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, 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%. As a group, equities research analysts anticipate that Tenet Healthcare will post 12.24 EPS for the current year.

Institutional Investors Weigh In On Tenet Healthcare

A number of institutional investors and hedge funds have recently modified their holdings of the business. Coldstream Capital Management Inc. raised its position in shares of Tenet Healthcare by 2.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company’s stock valued at $566,000 after acquiring an additional 74 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Tenet Healthcare by 9.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company’s stock valued at $119,000 after buying an additional 80 shares during the period. GeoWealth Management LLC boosted its holdings in Tenet Healthcare by 39.8% during the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock worth $37,000 after buying an additional 84 shares during the last quarter. Spire Wealth Management increased its stake in shares of Tenet Healthcare by 19.5% in the 4th quarter. Spire Wealth Management now owns 558 shares of the company’s stock valued at $70,000 after acquiring an additional 91 shares during 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 valued at $732,000 after acquiring an additional 92 shares during the period. 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.