Tenet Healthcare (NYSE:THC) Receives “Overweight” Rating from Cantor Fitzgerald

Tenet Healthcare (NYSE:THC)‘s stock had its “overweight” rating reiterated by analysts at Cantor Fitzgerald in a research note issued to investors on Thursday,Benzinga reports. They presently have a $177.00 price target on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 38.05% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. The Goldman Sachs Group cut Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their price target for the company from $196.00 to $140.00 in a report on Monday, December 16th. Royal Bank of Canada upped 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. Wells Fargo & Company lowered Tenet Healthcare from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $175.00 price target on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Finally, KeyCorp cut their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Tenet Healthcare has a consensus rating of “Moderate Buy” and a consensus price target of $163.19.

Tenet Healthcare Stock Performance

THC stock traded up $2.02 during midday trading on Thursday, reaching $128.21. The company had a trading volume of 459,277 shares, compared to its average volume of 1,142,271. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. The stock has a 50 day moving average price of $133.55 and a 200 day moving average price of $148.37. The firm has a market capitalization of $12.19 billion, a PE ratio of 4.11, a P/E/G ratio of 0.63 and a beta of 2.05. Tenet Healthcare has a fifty-two week low of $87.06 and a fifty-two week high of $171.20.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. Analysts anticipate that Tenet Healthcare will post 11.37 earnings per share for the current year.

Hedge Funds Weigh In On Tenet Healthcare

Institutional investors have recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC bought a new position in shares of Tenet Healthcare in the fourth quarter valued at approximately $343,000. Swedbank AB lifted its position in Tenet Healthcare by 100.0% during the 4th quarter. Swedbank AB now owns 40,000 shares of the company’s stock worth $5,049,000 after buying an additional 20,000 shares in the last quarter. Legacy Capital Group California Inc. bought a new position in shares of Tenet Healthcare in the third quarter worth about $1,055,000. Signet Financial Management LLC bought a new position in Tenet Healthcare in the fourth quarter valued at about $1,526,000. Finally, China Universal Asset Management Co. Ltd. acquired a new position in shares of Tenet Healthcare in the 4th quarter valued at $410,000. 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.