Tenet Healthcare (NYSE:THC) Research Coverage Started at Guggenheim

Guggenheim began coverage on shares of Tenet Healthcare (NYSE:THC) in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $165.00 target price on the stock.

Several other equities research analysts have also weighed in on the company. Barclays reduced their target price on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. The Goldman Sachs Group downgraded shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $196.00 to $140.00 in a report on Monday, December 16th. Truist Financial dropped their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com raised Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Finally, Morgan Stanley began coverage on Tenet Healthcare in a research note on Wednesday, March 26th. They set an “overweight” rating and a $165.00 target price for the company. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $166.33.

Tenet Healthcare Trading Down 3.0 %

Shares of NYSE THC opened at $123.70 on Wednesday. The stock has a market cap of $11.77 billion, a price-to-earnings ratio of 3.84, a PEG ratio of 1.02 and a beta of 1.77. The business has a 50 day simple moving average of $129.77 and a 200 day simple moving average of $139.60. 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 $90.03 and a 52 week high of $171.20.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. On average, research analysts predict that Tenet Healthcare will post 12.24 earnings per share for the current fiscal year.

Insider Activity

In related news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the transaction, the director now owns 27,378 shares of the company’s stock, valued at $3,434,022.54. This represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Tenet Healthcare

A number of hedge funds have recently modified their holdings of the stock. Merit Financial Group LLC bought a new position in shares of Tenet Healthcare during the first quarter valued at $310,000. Somerset Trust Co acquired a new position in Tenet Healthcare in the first quarter valued at about $303,000. Parallel Advisors LLC grew its stake in Tenet Healthcare by 48.5% during the first quarter. Parallel Advisors LLC now owns 860 shares of the company’s stock worth $116,000 after buying an additional 281 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Tenet Healthcare by 17,134.3% in the first quarter. GAMMA Investing LLC now owns 192,335 shares of the company’s stock valued at $25,869,000 after acquiring an additional 191,219 shares during the last quarter. Finally, Capital Market Strategies LLC bought a new stake in Tenet Healthcare during the 1st quarter worth approximately $202,000. 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.