Tenet Healthcare (NYSE:THC) Stock Price Down 7.1% – What’s Next?

Tenet Healthcare Co. (NYSE:THC)’s stock price was down 7.1% on Friday . The stock traded as low as $117.00 and last traded at $121.20. Approximately 427,692 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 1,324,976 shares. The stock had previously closed at $130.48.

Analysts Set New Price Targets

Several analysts have commented on the stock. Barclays decreased their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Raymond James lowered 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. KeyCorp reduced their price objective on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $177.00 target price on shares of Tenet Healthcare in a research note on Thursday, February 13th. Finally, Truist Financial decreased their price target on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tenet Healthcare currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.88.

Tenet Healthcare Price Performance

The stock’s 50 day moving average is $133.03 and its two-hundred day moving average is $147.03. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The stock has a market capitalization of $12.04 billion, a PE ratio of 3.93, a price-to-earnings-growth ratio of 1.02 and a beta of 2.05.

Tenet Healthcare (NYSE:THC) last issued 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 return on equity of 21.88% and a net margin of 15.48%. On average, equities analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Institutional Trading of Tenet Healthcare

Large investors have recently bought and sold shares of the business. Plato Investment Management Ltd purchased a new stake in shares of Tenet Healthcare in the third quarter valued at approximately $28,000. Colonial Trust Co SC grew its holdings in Tenet Healthcare by 85.7% in the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company’s stock valued at $31,000 after buying an additional 114 shares in the last quarter. GeoWealth Management LLC raised its holdings 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 during the period. True Wealth Design LLC purchased a new stake in shares of Tenet Healthcare in the third quarter valued at about $38,000. Finally, WR Wealth Planners LLC increased its position in Tenet Healthcare by 2,836.4% during the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock worth $41,000 after purchasing an additional 312 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

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.