Tenet Healthcare (NYSE:THC) Stock Price Down 3.2% – What’s Next?

Tenet Healthcare Co. (NYSE:THC)’s stock price was down 3.2% during trading on Friday . The company traded as low as $121.01 and last traded at $121.27. Approximately 84,178 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 363,409 shares. The stock had previously closed at $125.22.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on THC shares. Cantor Fitzgerald increased their target price on Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. The Goldman Sachs Group lowered shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and dropped their price target for the company from $196.00 to $140.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $175.00 price target on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Barclays raised their price objective on Tenet Healthcare from $171.00 to $190.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, StockNews.com downgraded Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 17th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.88.

Tenet Healthcare Trading Down 1.0 %

The firm has a market capitalization of $11.79 billion, a price-to-earnings ratio of 3.97, a PEG ratio of 0.61 and a beta of 2.06. 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 business’s 50-day moving average price is $144.08 and its 200 day moving average price is $148.47.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.60. The firm had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. Tenet Healthcare’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.44 EPS. On average, equities analysts forecast that Tenet Healthcare Co. will post 11.38 earnings per share for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total transaction of $623,760.00. Following the completion of the sale, the executive vice president now owns 15,566 shares in the company, valued at $2,427,362.04. The trade was a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

A number of institutional investors have recently modified their holdings of the business. FMR LLC raised its position in shares of Tenet Healthcare by 88.0% during the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock worth $1,279,855,000 after purchasing an additional 3,604,161 shares during the period. Geode Capital Management LLC boosted 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 valued at $339,893,000 after acquiring an additional 390,316 shares during the period. Marshall Wace LLP increased its holdings in shares of Tenet Healthcare by 7.3% in the 2nd quarter. Marshall Wace LLP now owns 713,979 shares of the company’s stock worth $94,981,000 after acquiring an additional 48,626 shares during the period. Farallon Capital Management LLC boosted its stake in Tenet Healthcare by 7.8% during the 2nd quarter. Farallon Capital Management LLC now owns 687,442 shares of the company’s stock valued at $91,450,000 after purchasing an additional 50,000 shares during the period. Finally, Integral Health Asset Management LLC increased its stake in shares of Tenet Healthcare by 17.6% in the second quarter. Integral Health Asset Management LLC now owns 500,000 shares of the company’s stock valued at $66,515,000 after purchasing an additional 75,000 shares during the period. 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.