JPMorgan Chase & Co. cut shares of Tenet Healthcare (NYSE:THC) from a neutral rating to an underweight rating in a research report sent to investors on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has $20.00 price objective on the stock, down from their previous price objective of $28.00.
Several other equities research analysts have also weighed in on the company. Deutsche Bank raised their target price on Tenet Healthcare from $25.00 to $28.00 and gave the stock a hold rating in a research report on Wednesday, August 5th. Credit Suisse Group restated a buy rating on shares of Tenet Healthcare in a research note on Tuesday, August 4th. ValuEngine upgraded Tenet Healthcare from a sell rating to a hold rating in a research note on Monday, August 3rd. Truist raised their price target on Tenet Healthcare from $21.00 to $30.00 in a research note on Friday, August 14th. Finally, UBS Group raised their price target on Tenet Healthcare from $30.00 to $35.00 and gave the stock a buy rating in a research note on Monday, August 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Tenet Healthcare has a consensus rating of Hold and an average price target of $28.00.
Shares of NYSE THC opened at $21.78 on Monday. The company has a debt-to-equity ratio of 24.85, a quick ratio of 1.36 and a current ratio of 1.42. Tenet Healthcare has a fifty-two week low of $10.00 and a fifty-two week high of $39.37. The firm has a market capitalization of $2.30 billion, a PE ratio of -42.71, a price-to-earnings-growth ratio of 4.43 and a beta of 2.46. The stock’s 50-day simple moving average is $28.40 and its 200-day simple moving average is $22.03.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC acquired a new position in shares of Tenet Healthcare in the second quarter worth $26,000. Rosenberg Matthew Hamilton acquired a new position in shares of Tenet Healthcare in the second quarter worth $36,000. PNC Financial Services Group Inc. raised its holdings in shares of Tenet Healthcare by 62.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the company’s stock worth $37,000 after acquiring an additional 787 shares during the last quarter. Stonebridge Capital Advisors LLC acquired a new position in Tenet Healthcare in the first quarter valued at $46,000. Finally, Advisor Group Holdings Inc. acquired a new position in Tenet Healthcare in the first quarter valued at $57,000. 95.96% of the stock is owned by institutional investors.
Tenet Healthcare Company Profile
Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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