Tenet Healthcare (NYSE:THC) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Tenet Healthcare (NYSE:THC) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday morning.

Several other brokerages also recently weighed in on THC. Wells Fargo & Company reduced their target price on shares of Tenet Healthcare from $252.00 to $229.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 7th. UBS Group upped their target price on Tenet Healthcare from $238.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Mizuho boosted their price objective on Tenet Healthcare from $194.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Guggenheim increased their target price on Tenet Healthcare from $238.00 to $257.00 and gave the stock a “buy” rating in a research note on Tuesday, December 2nd. Finally, Weiss Ratings upgraded shares of Tenet Healthcare from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $233.81.

Tenet Healthcare Trading Down 0.0%

THC opened at $189.48 on Friday. The stock has a 50-day moving average of $200.90 and a 200 day moving average of $192.03. The company has a current ratio of 1.71, a quick ratio of 1.64 and a debt-to-equity ratio of 2.27. Tenet Healthcare has a 12 month low of $109.82 and a 12 month high of $222.82. The firm has a market cap of $16.65 billion, a P/E ratio of 12.99, a P/E/G ratio of 0.81 and a beta of 1.41.

Insider Activity

In related news, Director Nadja West sold 2,178 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $197.47, for a total transaction of $430,089.66. Following the sale, the director owned 28,480 shares of the company’s stock, valued at $5,623,945.60. This trade represents a 7.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider R. Scott Ramsey sold 13,322 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $205.11, for a total transaction of $2,732,475.42. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 43,000 shares of company stock worth $8,725,996. Corporate insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Tenet Healthcare

Several institutional investors and hedge funds have recently bought and sold shares of THC. Boston Partners boosted its position in shares of Tenet Healthcare by 38.8% in the 3rd quarter. Boston Partners now owns 3,147,555 shares of the company’s stock worth $638,958,000 after purchasing an additional 880,413 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Tenet Healthcare by 8.0% in the second quarter. Ameriprise Financial Inc. now owns 2,119,423 shares of the company’s stock worth $373,020,000 after acquiring an additional 157,109 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Tenet Healthcare by 62.3% during the third quarter. AQR Capital Management LLC now owns 1,876,423 shares of the company’s stock worth $380,989,000 after acquiring an additional 720,160 shares during the last quarter. Norges Bank purchased a new position in shares of Tenet Healthcare in the 2nd quarter valued at approximately $206,981,000. Finally, Eminence Capital LP purchased a new stake in Tenet Healthcare during the 3rd quarter worth approximately $225,263,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

About Tenet Healthcare

Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.