Tenet Healthcare (NYSE:THC) Downgraded by The Goldman Sachs Group to “Neutral”

The Goldman Sachs Group cut shares of Tenet Healthcare (NYSE:THC) from a buy rating to a neutral rating in a research note released on Monday, MarketBeat.com reports. They currently have $140.00 price target on the stock, down from their previous price target of $196.00.

A number of other analysts have also issued reports on the stock. KeyCorp began coverage on shares of Tenet Healthcare in a research note on Friday, October 11th. They set an “overweight” rating and a $200.00 target price for the company. Wells Fargo & Company lowered shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $205.00 to $150.00 in a research note on Monday, November 25th. Barclays boosted their target price on shares of Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Cantor Fitzgerald boosted their target price on shares of Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada boosted their target price on shares of Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $164.69.

Tenet Healthcare Stock Down 2.2 %

NYSE THC opened at $133.73 on Monday. 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 company has a fifty day moving average of $151.70 and a two-hundred day moving average of $149.39. The firm has a market capitalization of $12.72 billion, a price-to-earnings ratio of 4.28, a PEG ratio of 0.63 and a beta of 2.06. Tenet Healthcare has a 52 week low of $73.21 and a 52 week high of $171.20.

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On Tenet Healthcare

Several hedge funds have recently modified their holdings of the stock. Plato Investment Management Ltd purchased a new stake in Tenet Healthcare in the third quarter valued at approximately $28,000. ORG Wealth Partners LLC purchased a new stake in Tenet Healthcare in the third quarter valued at approximately $30,000. Financial Management Professionals Inc. boosted its position in Tenet Healthcare by 2,222.2% in the third quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock valued at $35,000 after buying an additional 200 shares during the last quarter. Innealta Capital LLC purchased a new stake in Tenet Healthcare in the second quarter valued at approximately $28,000. Finally, True Wealth Design LLC purchased a new stake in Tenet Healthcare in the third quarter valued at approximately $38,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

About Tenet Healthcare

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.