Tenet Healthcare (NYSE:THC) Downgraded to Hold Rating by Wall Street Zen

Tenet Healthcare (NYSE:THC - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Thursday.

A number of other research analysts have also recently commented on the company. The Goldman Sachs Group raised their target price on Tenet Healthcare from $134.00 to $154.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Barclays raised their price objective on Tenet Healthcare from $161.00 to $171.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Morgan Stanley increased their price target on shares of Tenet Healthcare from $165.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Cantor Fitzgerald restated an "overweight" rating and issued a $177.00 price objective on shares of Tenet Healthcare in a report on Thursday, February 13th. Finally, Guggenheim began coverage on Tenet Healthcare in a research report on Wednesday, April 9th. They issued a "buy" rating and a $165.00 price target on the stock. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $174.94.

Tenet Healthcare Trading Down 1.1%

THC stock traded down $1.80 on Thursday, reaching $161.03. The company's stock had a trading volume of 210,757 shares, compared to its average volume of 1,527,854. 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 business has a fifty day simple moving average of $135.48 and a two-hundred day simple moving average of $136.64. The firm has a market cap of $14.96 billion, a PE ratio of 5.00, a PEG ratio of 1.02 and a beta of 1.63. Tenet Healthcare has a 12-month low of $109.82 and a 12-month high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, beating analysts' consensus estimates of $3.11 by $1.25. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.15 billion. During the same quarter in the previous year, the firm posted $3.22 EPS. The company's revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, research analysts forecast that Tenet Healthcare will post 12.24 EPS for the current year.

Insider Activity

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was 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 approximately $3,434,022.54. The trade was a 25.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Paola M. Arbour sold 6,461 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $160.20, for a total transaction of $1,035,052.20. Following the sale, the executive vice president now directly owns 27,848 shares in the company, valued at approximately $4,461,249.60. The trade was a 18.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,987 shares of company stock valued at $2,972,421 over the last ninety days. 0.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tenet Healthcare

Several hedge funds and other institutional investors have recently modified their holdings of THC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Tenet Healthcare in the first quarter valued at about $26,000. Wayfinding Financial LLC purchased a new stake in shares of Tenet Healthcare during the 1st quarter valued at about $28,000. SVB Wealth LLC purchased a new position in shares of Tenet Healthcare in the first quarter worth approximately $30,000. Colonial Trust Co SC grew its position in Tenet Healthcare by 85.7% during the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company's stock valued at $31,000 after buying an additional 114 shares during the period. Finally, N.E.W. Advisory Services LLC bought a new position in Tenet Healthcare in the first quarter worth approximately $31,000. 95.44% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.