Cantor Fitzgerald Reaffirms “Overweight” Rating for Tenet Healthcare (NYSE:THC)

Tenet Healthcare (NYSE:THC)‘s stock had its “overweight” rating restated by 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 target price would suggest a potential upside of 38.05% from the company’s previous close.

THC has been the topic of several other research reports. UBS Group upped their price objective on Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $175.00 price target on shares of Tenet Healthcare in a report on Tuesday, December 17th. Raymond James lowered shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price objective on the stock. in a research report on Friday, November 22nd. StockNews.com lowered shares of Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 17th. Finally, Barclays lowered their price target on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research report on Thursday. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Tenet Healthcare currently has a consensus rating of “Moderate Buy” and an average target price of $163.19.

Tenet Healthcare Stock Up 1.6 %

Shares of NYSE:THC traded up $2.02 during trading on Thursday, hitting $128.21. 459,277 shares of the company were exchanged, compared to its average volume of 1,142,271. The stock has a market cap of $12.19 billion, a price-to-earnings ratio of 4.11, a P/E/G ratio of 0.63 and a beta of 2.05. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. Tenet Healthcare has a fifty-two week low of $87.06 and a fifty-two week high of $171.20. The firm has a fifty day moving average price of $133.55 and a two-hundred day moving average price of $148.37.

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

Hedge Funds Weigh In On Tenet Healthcare

A number of institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC lifted its holdings in shares of Tenet Healthcare by 88.0% in the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock worth $1,279,855,000 after purchasing an additional 3,604,161 shares in the last quarter. Norges Bank bought a new stake in shares of Tenet Healthcare during the 4th quarter valued at $190,819,000. Wealthfront Advisers LLC bought a new position in Tenet Healthcare in the 4th quarter worth about $69,059,000. Geode Capital Management LLC grew its holdings in Tenet Healthcare by 23.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock valued at $339,893,000 after buying an additional 390,316 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Tenet Healthcare in the fourth quarter worth about $49,001,000. 95.44% of the stock is currently 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.