Tenet Healthcare (NYSE:THC) Cut to “Hold” at Baird R W

Baird R W lowered shares of Tenet Healthcare (NYSE:THC) from a strong-buy rating to a hold rating in a report issued on Tuesday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. The Goldman Sachs Group lowered shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and decreased their price target for the company from $196.00 to $140.00 in a report on Monday, December 16th. StockNews.com upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Guggenheim assumed coverage on shares of Tenet Healthcare in a report on Wednesday, April 9th. They set a “buy” rating and a $165.00 price objective for the company. TD Cowen assumed coverage on shares of Tenet Healthcare in a report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 price target for the company. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $175.00 target price on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $165.44.

Tenet Healthcare Stock Up 0.9 %

Shares of NYSE THC opened at $121.47 on Tuesday. The firm’s 50 day moving average price is $128.22 and its 200 day moving average price is $138.59. 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 firm has a market cap of $11.55 billion, a P/E ratio of 3.77, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. Tenet Healthcare has a 1 year low of $90.03 and a 1 year high of $171.20.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, beating analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. As a group, sell-side analysts anticipate that Tenet Healthcare will post 12.24 earnings per share for the current year.

Insiders Place Their Bets

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction 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. The trade was a 25.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Colonial Trust Co SC grew its stake in shares of Tenet Healthcare by 85.7% in the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company’s stock valued at $31,000 after buying an additional 114 shares in the last quarter. GeoWealth Management LLC boosted its stake in Tenet Healthcare by 39.8% during the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock valued at $37,000 after purchasing an additional 84 shares during the period. WR Wealth Planners LLC boosted its holdings in Tenet Healthcare by 2,836.4% in the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock valued at $41,000 after purchasing an additional 312 shares during the period. Smartleaf Asset Management LLC increased its stake in Tenet Healthcare by 30.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock valued at $59,000 after acquiring an additional 110 shares during the period. Finally, Kestra Investment Management LLC bought a new position in Tenet Healthcare in the fourth quarter worth $60,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

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.