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

Tenet Healthcare (NYSE:THC - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Friday.

Other equities analysts also recently issued reports about the stock. Mizuho increased their target price on shares of Tenet Healthcare from $184.00 to $194.00 and gave the stock an "outperform" rating in a research report on Friday, July 11th. Royal Bank Of Canada raised their price objective on Tenet Healthcare from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Robert W. Baird reaffirmed a "neutral" rating and set a $137.00 target price (down previously from $153.00) on shares of Tenet Healthcare in a research report on Tuesday, April 15th. Morgan Stanley lifted their price target on shares of Tenet Healthcare from $175.00 to $210.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. Finally, Bank of America raised their target price on shares of Tenet Healthcare from $165.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $185.41.

Tenet Healthcare Stock Performance

NYSE THC traded down $0.18 during trading hours on Friday, reaching $174.96. The company's stock had a trading volume of 1,855,884 shares, compared to its average volume of 1,272,888. The stock has a market cap of $16.25 billion, a PE ratio of 11.57, a PEG ratio of 1.35 and a beta of 1.64. The business has a 50-day simple moving average of $168.41 and a 200 day simple moving average of $144.21. Tenet Healthcare has a 52 week low of $109.82 and a 52 week high of $179.91. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.23.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.11 by $1.25. The business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a return on equity of 22.58% and a net margin of 7.09%. The business's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the company posted $3.22 EPS. Equities research analysts predict that Tenet Healthcare will post 12.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director James L. Bierman sold 13,836 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $159.58, for a total value of $2,207,948.88. Following the sale, the director directly owned 41,435 shares of the company's stock, valued at approximately $6,612,197.30. This represents a 25.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard W. Fisher sold 3,077 shares of Tenet Healthcare stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $165.72, for a total value of $509,920.44. Following the transaction, the director owned 12,128 shares of the company's stock, valued at $2,009,852.16. The trade was a 20.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,121 shares of company stock valued at $8,846,305 in the last quarter. Company insiders own 0.81% of the company's stock.

Institutional Trading of Tenet Healthcare

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. acquired a new position in Tenet Healthcare during the first quarter valued at approximately $212,000. Envestnet Asset Management Inc. raised its holdings in shares of Tenet Healthcare by 3.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 203,582 shares of the company's stock worth $27,382,000 after buying an additional 6,424 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Tenet Healthcare by 65.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,420 shares of the company's stock valued at $189,000 after buying an additional 562 shares in the last quarter. GAMMA Investing LLC grew its position in Tenet Healthcare by 28.1% in the first quarter. GAMMA Investing LLC now owns 1,430 shares of the company's stock valued at $192,000 after acquiring an additional 314 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in shares of Tenet Healthcare in the first quarter worth about $1,986,000. 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.