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

StockNews.com upgraded shares of Tenet Healthcare (NYSE:THC) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning.

Several other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $175.00 price target on shares of Tenet Healthcare in a report on Tuesday, December 17th. Royal Bank of Canada increased their price target on Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $177.00 price target on shares of Tenet Healthcare in a report on Thursday, February 13th. Raymond James cut 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. Finally, Barclays cut their price target on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $163.19.

Tenet Healthcare Stock Performance

NYSE THC opened at $134.82 on Tuesday. The company has a market cap of $12.82 billion, a PE ratio of 4.18, a price-to-earnings-growth ratio of 1.02 and a beta of 2.05. The stock’s 50 day simple moving average is $132.90 and its 200-day simple moving average is $147.47. Tenet Healthcare has a 1-year low of $88.98 and a 1-year high of $171.20. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70.

Tenet Healthcare (NYSE:THC) last released its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, beating the consensus estimate 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, equities research analysts anticipate that Tenet Healthcare will post 12.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Tenet Healthcare

A number of institutional investors have recently modified their holdings of the company. Forum Financial Management LP grew its stake in shares of Tenet Healthcare by 43.5% in the fourth quarter. Forum Financial Management LP now owns 2,469 shares of the company’s stock valued at $312,000 after buying an additional 749 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Tenet Healthcare in the fourth quarter valued at $2,773,000. Vise Technologies Inc. grew its stake in shares of Tenet Healthcare by 28.4% in the fourth quarter. Vise Technologies Inc. now owns 1,613 shares of the company’s stock valued at $204,000 after buying an additional 357 shares in the last quarter. MidWestOne Financial Group Inc. grew its stake in shares of Tenet Healthcare by 6.7% in the fourth quarter. MidWestOne Financial Group Inc. now owns 11,822 shares of the company’s stock valued at $1,492,000 after buying an additional 744 shares in the last quarter. Finally, PharVision Advisers LLC acquired a new stake in shares of Tenet Healthcare in the fourth quarter valued at $359,000. 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.