Shares of Tenet Healthcare Co. (NYSE:THC - Get Free Report) dropped 7.7% during trading on Monday . The stock traded as low as $112.05 and last traded at $112.48. Approximately 537,022 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 1,496,713 shares. The stock had previously closed at $121.81.
Analyst Ratings Changes
A number of research firms recently issued reports on THC. Robert W. Baird reiterated a "neutral" rating and issued a $137.00 target price (down from $153.00) on shares of Tenet Healthcare in a report on Tuesday, April 15th. Baird R W lowered shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Barclays decreased their price objective on Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Morgan Stanley began coverage on Tenet Healthcare in a research report on Wednesday, March 26th. They issued an "overweight" rating and a $165.00 price target on the stock. Finally, KeyCorp cut their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Tenet Healthcare currently has a consensus rating of "Moderate Buy" and a consensus target price of $165.44.
Check Out Our Latest Stock Analysis on Tenet Healthcare
Tenet Healthcare Stock Down 1.8 %
The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The company has a market cap of $11.51 billion, a PE ratio of 3.78, a P/E/G ratio of 1.02 and a beta of 1.77. The firm has a 50-day simple moving average of $126.50 and a two-hundred day simple moving average of $136.90.
Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (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%. Research analysts anticipate that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, Director J Robert Kerrey sold 9,525 shares of the firm's stock in a transaction that occurred on 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 sale, the director now directly owns 27,378 shares of the company's stock, valued at approximately $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.81% of the company's stock.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in THC. Norges Bank purchased a new stake in shares of Tenet Healthcare during the 4th quarter worth about $190,819,000. Wealthfront Advisers LLC purchased a new position in Tenet Healthcare in the fourth quarter valued at about $69,059,000. Raymond James Financial Inc. purchased a new stake in shares of Tenet Healthcare in the fourth quarter worth about $49,001,000. Renaissance Technologies LLC raised its holdings in shares of Tenet Healthcare by 579.2% during the 4th quarter. Renaissance Technologies LLC now owns 438,563 shares of the company's stock valued at $55,360,000 after buying an additional 373,988 shares during the period. Finally, Bridgewater Associates LP grew its position in Tenet Healthcare by 225.4% in the fourth quarter. Bridgewater Associates LP now owns 407,194 shares of the company's stock valued at $51,400,000 after acquiring an additional 282,071 shares in the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.
Tenet Healthcare Company Profile
(
Get Free Report)
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.
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