Tenet Healthcare (NYSE:THC) Shares Down 5% – Should You Sell?

Tenet Healthcare Co. (NYSE:THC) traded down 5% during mid-day trading on Wednesday . The company traded as low as $128.52 and last traded at $131.88. 774,260 shares changed hands during trading, a decline of 24% from the average session volume of 1,023,463 shares. The stock had previously closed at $138.83.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. 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. Raymond James lowered shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price objective for the company. in a report on Friday, November 22nd. UBS Group boosted their target price on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Barclays dropped their price target on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Wells Fargo & Company lowered 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. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $163.19.

Tenet Healthcare Stock Up 5.4 %

The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. The company has a market cap of $12.65 billion, a P/E ratio of 4.26, a PEG ratio of 0.63 and a beta of 2.05. The firm’s 50-day simple moving average is $133.43 and its 200 day simple moving average is $148.26.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. On average, research analysts forecast that Tenet Healthcare Co. will post 11.37 earnings per share for the current fiscal year.

Institutional Trading of Tenet Healthcare

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