Analysts Set Tenet Healthcare Co. (NYSE:THC) PT at $165.00

Tenet Healthcare Co. (NYSE:THC) has received an average rating of “Moderate Buy” from the seventeen brokerages that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $165.00.

A number of research firms recently issued reports on THC. Royal Bank of Canada upped their price target 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. Barclays upped their price objective on Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. StockNews.com downgraded Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 17th. Truist Financial lowered their price target on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Wells Fargo & Company downgraded shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $205.00 to $150.00 in a research note on Monday, November 25th.

Tenet Healthcare Stock Performance

Shares of NYSE THC opened at $135.50 on Friday. The firm’s fifty day moving average is $134.94 and its two-hundred day moving average is $148.10. Tenet Healthcare has a 52-week low of $80.53 and a 52-week high of $171.20. The company has a market cap of $12.89 billion, a P/E ratio of 4.34, a P/E/G ratio of 0.60 and a beta of 2.06. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.60. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The company had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the previous year, the business earned $1.44 earnings per share. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, analysts anticipate that Tenet Healthcare will post 11.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Lisa Y. Foo sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the completion of the sale, the executive vice president now owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. This represents a 20.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.93% of the company’s stock.

Institutional Trading of Tenet Healthcare

A number of hedge funds have recently bought and sold shares of the stock. Plato Investment Management Ltd bought a new position in shares of Tenet Healthcare in the 3rd quarter worth $28,000. ORG Wealth Partners LLC purchased a new position in Tenet Healthcare in the third quarter valued at about $30,000. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Tenet Healthcare during the second quarter valued at about $34,000. Financial Management Professionals Inc. grew its position in shares of Tenet Healthcare by 2,222.2% in the 3rd quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock worth $35,000 after buying an additional 200 shares during the last quarter. Finally, True Wealth Design LLC purchased a new stake in Tenet Healthcare during the third quarter valued at approximately $38,000. Hedge funds and other institutional investors 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.