Tenet Healthcare (NYSE:THC) Upgraded to “Buy” at StockNews.com

Tenet Healthcare (NYSE:THC) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

Other research analysts also recently issued reports about the stock. Raymond James downgraded 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 report on Friday, November 22nd. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $175.00 target price on shares of Tenet Healthcare in a research report on Tuesday, December 17th. The Goldman Sachs Group cut Tenet Healthcare from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $196.00 to $140.00 in a report on Monday, December 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $177.00 price objective on shares of Tenet Healthcare in a report on Thursday, February 13th. Finally, Royal Bank of Canada upped their price target on shares of Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Three research 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $163.88.

Tenet Healthcare Trading Down 2.1 %

Shares of THC opened at $131.81 on Tuesday. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. Tenet Healthcare has a 52-week low of $88.98 and a 52-week high of $171.20. The firm has a market cap of $12.54 billion, a price-to-earnings ratio of 4.09, a PEG ratio of 1.02 and a beta of 2.05. The business’s fifty day moving average is $132.99 and its 200-day moving average is $147.36.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, topping 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%. Equities analysts anticipate that Tenet Healthcare will post 12.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of THC. FMR LLC boosted its position in shares of Tenet Healthcare by 88.0% during the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock worth $1,279,855,000 after purchasing an additional 3,604,161 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Tenet Healthcare by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company’s stock worth $268,591,000 after acquiring an additional 71,454 shares in the last quarter. Norges Bank acquired a new stake in Tenet Healthcare in the fourth quarter valued at approximately $190,819,000. Dimensional Fund Advisors LP raised its position in shares of Tenet Healthcare by 22.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company’s stock worth $188,524,000 after purchasing an additional 272,906 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of Tenet Healthcare by 20.8% in the 4th quarter. AQR Capital Management LLC now owns 872,117 shares of the company’s stock worth $110,087,000 after purchasing an additional 150,361 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.