Tenet Healthcare (NYSE:THC) Given New $185.00 Price Target at KeyCorp

Tenet Healthcare (NYSE:THC) had its target price cut by KeyCorp from $200.00 to $185.00 in a report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also recently weighed in on THC. Barclays upped their price target on shares of Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a report on Friday, November 8th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $175.00 price target on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Raymond James cut Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price objective for the company. in a research report on Friday, November 22nd. Cantor Fitzgerald boosted their target price on Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company downgraded shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $205.00 to $150.00 in a report on Monday, November 25th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $165.00.

Tenet Healthcare Trading Up 1.0 %

Shares of NYSE THC opened at $130.08 on Tuesday. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. Tenet Healthcare has a twelve month low of $78.00 and a twelve month high of $171.20. The company’s fifty day moving average is $141.73 and its 200-day moving average is $148.16. The stock has a market cap of $12.37 billion, a price-to-earnings ratio of 4.17, a P/E/G ratio of 0.61 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the prior year, the company earned $1.44 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities research analysts predict that Tenet Healthcare will post 11.38 EPS for the current year.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total transaction of $623,760.00. Following the completion of the sale, the executive vice president now directly owns 15,566 shares in the company, valued at $2,427,362.04. This trade represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.93% of the company’s stock.

Institutional Trading of Tenet Healthcare

Hedge funds have recently added to or reduced their stakes in the company. Oliver Luxxe Assets LLC lifted its holdings in shares of Tenet Healthcare by 12.9% during the fourth quarter. Oliver Luxxe Assets LLC now owns 5,628 shares of the company’s stock worth $710,000 after buying an additional 643 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in Tenet Healthcare in the 4th quarter valued at about $1,758,000. Nordea Investment Management AB increased its holdings in shares of Tenet Healthcare by 13.5% during the fourth quarter. Nordea Investment Management AB now owns 83,793 shares of the company’s stock worth $10,577,000 after purchasing an additional 9,946 shares during the period. B. Riley Wealth Advisors Inc. boosted its stake in shares of Tenet Healthcare by 101.3% in the third quarter. B. Riley Wealth Advisors Inc. now owns 7,894 shares of the company’s stock valued at $1,281,000 after buying an additional 3,973 shares during the period. Finally, Retirement Systems of Alabama grew its position in Tenet Healthcare by 46.6% during the third quarter. Retirement Systems of Alabama now owns 176,757 shares of the company’s stock worth $29,377,000 after buying an additional 56,193 shares in the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

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.