KeyCorp Lowers Tenet Healthcare (NYSE:THC) Price Target to $185.00

Tenet Healthcare (NYSE:THC) had its price objective reduced by analysts at KeyCorp from $200.00 to $185.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price objective would suggest a potential upside of 44.25% from the stock’s previous close.

A number of other brokerages have also issued reports on THC. Royal Bank of Canada lifted their price target on shares of Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research note 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 objective for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. Raymond James downgraded Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price for the company. in a research note on Friday, November 22nd. Barclays increased their price target on Tenet Healthcare from $171.00 to $190.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company downgraded Tenet Healthcare from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $205.00 to $150.00 in a research note on Monday, November 25th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $165.00.

Tenet Healthcare Trading Up 2.1 %

NYSE:THC traded up $2.64 during trading hours on Tuesday, reaching $128.25. 185,313 shares of the company were exchanged, compared to its average volume of 921,432. Tenet Healthcare has a 52-week low of $75.83 and a 52-week high of $171.20. The firm has a market cap of $12.20 billion, a price-to-earnings ratio of 4.11, 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 stock has a 50 day simple moving average of $143.47 and a 200 day simple moving average of $148.45.

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

Insider Activity

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $155.94, for a total transaction of $623,760.00. Following the transaction, the executive vice president now directly owns 15,566 shares in the company, valued at $2,427,362.04. This trade represents a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tenet Healthcare

Several large investors have recently added to or reduced their stakes in the company. Plato Investment Management Ltd acquired a new stake in shares of Tenet Healthcare during the 3rd quarter valued at about $28,000. ORG Wealth Partners LLC bought a new stake in Tenet Healthcare during the 3rd quarter worth approximately $30,000. Financial Management Professionals Inc. increased its position in Tenet Healthcare by 2,222.2% in the 3rd quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock valued at $35,000 after acquiring an additional 200 shares in the last quarter. True Wealth Design LLC bought a new position in Tenet Healthcare in the 3rd quarter valued at $38,000. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Tenet Healthcare in the second quarter worth about $34,000. Institutional investors and hedge funds 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.