Barclays Cuts Tenet Healthcare (NYSE:THC) Price Target to $161.00

Tenet Healthcare (NYSE:THC) had its target price trimmed by Barclays from $190.00 to $161.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities research analysts also recently issued reports on THC. Raymond James downgraded 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 research note on Friday, November 22nd. Royal Bank of Canada upped their price target on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. StockNews.com downgraded Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 17th. Wells Fargo & Company downgraded Tenet Healthcare from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $205.00 to $150.00 in a research report on Monday, November 25th. Finally, KeyCorp reduced their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $163.19.

Tenet Healthcare Stock Performance

Tenet Healthcare stock opened at $133.40 on Thursday. The stock has a market cap of $12.69 billion, a price-to-earnings ratio of 4.27, a price-to-earnings-growth ratio of 0.63 and a beta of 2.05. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52. The firm has a 50 day simple moving average of $133.32 and a 200-day simple moving average of $148.11. Tenet Healthcare has a 1-year low of $88.57 and a 1-year high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, beating analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. On average, analysts expect that Tenet Healthcare will post 11.37 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC increased its stake in Tenet Healthcare by 88.0% in the third 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. Norges Bank purchased a new position in shares of Tenet Healthcare in the 4th quarter valued at $190,819,000. Wealthfront Advisers LLC purchased a new stake in Tenet Healthcare in the fourth quarter valued at $69,059,000. Geode Capital Management LLC grew its holdings in shares of Tenet Healthcare by 23.6% during the third quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock worth $339,893,000 after purchasing an additional 390,316 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Tenet Healthcare in the 4th quarter valued at about $49,001,000. 95.44% of the stock is owned by institutional investors and hedge funds.

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.