Tenet Healthcare (NYSE:THC) Upgraded at StockNews.com

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

Several other research analysts have also issued reports on THC. Barclays dropped their target price on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Wells Fargo & Company lowered Tenet Healthcare from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $205.00 to $150.00 in a research note on Monday, November 25th. Raymond James cut shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target on the stock. in a report on Friday, November 22nd. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $175.00 price objective on shares of Tenet Healthcare in a report on Tuesday, December 17th. Finally, The Goldman Sachs Group lowered shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $163.88.

Tenet Healthcare Price Performance

Shares of Tenet Healthcare stock opened at $130.48 on Tuesday. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. Tenet Healthcare has a 52 week low of $88.98 and a 52 week high of $171.20. The stock’s 50-day simple moving average is $133.09 and its 200-day simple moving average is $147.25. The company has a market capitalization of $12.41 billion, a price-to-earnings ratio of 4.05, a PEG ratio of 1.02 and a beta of 2.05.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC increased its holdings in Tenet Healthcare by 88.0% in the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock valued at $1,279,855,000 after purchasing an additional 3,604,161 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Tenet Healthcare by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company’s stock valued at $268,591,000 after buying an additional 71,454 shares in the last quarter. Norges Bank acquired a new position in Tenet Healthcare during the 4th quarter worth about $190,819,000. Dimensional Fund Advisors LP grew its position in Tenet Healthcare by 22.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company’s stock valued at $188,524,000 after acquiring an additional 272,906 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Tenet Healthcare by 20.8% during the fourth 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 during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

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.