Tenet Healthcare (NYSE:THC) Rating Increased to Buy at StockNews.com

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

A number of other equities research analysts have also recently commented on THC. Truist Financial decreased their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Royal Bank of Canada boosted their target price on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. KeyCorp lowered their price target on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. UBS Group upped their price objective on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company downgraded shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. Three equities research 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $163.19.

Tenet Healthcare Stock Up 2.5 %

Shares of NYSE THC traded up $3.26 during midday trading on Tuesday, reaching $134.82. 1,385,709 shares of the company’s stock traded hands, compared to its average volume of 1,348,611. The stock’s 50 day simple moving average is $132.90 and its 200-day simple moving average is $147.47. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The company has a market cap of $12.82 billion, a price-to-earnings ratio of 4.18, a P/E/G ratio of 1.02 and a beta of 2.05. Tenet Healthcare has a one year low of $88.98 and a one year high of $171.20.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping 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%. On average, analysts predict that Tenet Healthcare will post 12.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Tenet Healthcare

Several institutional investors and hedge funds have recently modified their holdings of the stock. Plato Investment Management Ltd purchased a new stake in Tenet Healthcare in the 3rd quarter worth approximately $28,000. True Wealth Design LLC acquired a new stake in Tenet Healthcare during the third quarter valued at $38,000. Colonial Trust Co SC raised its position in shares of Tenet Healthcare by 85.7% in the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company’s stock worth $31,000 after acquiring an additional 114 shares during the period. GeoWealth Management LLC boosted its stake in shares of Tenet Healthcare by 39.8% during the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock worth $37,000 after acquiring an additional 84 shares in the last quarter. Finally, WR Wealth Planners LLC grew its position in shares of Tenet Healthcare by 2,836.4% during the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock valued at $41,000 after acquiring an additional 312 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.