Analysts Set Tenet Healthcare Co. (NYSE:THC) PT at $166.88

Tenet Healthcare Co. (NYSE:THC) has been given a consensus recommendation of “Moderate Buy” by the seventeen analysts that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $166.88.

A number of brokerages have recently commented on THC. The Goldman Sachs Group lowered shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their price target for the stock from $196.00 to $140.00 in a report on Monday, December 16th. StockNews.com lowered Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 17th. Truist Financial reaffirmed a “buy” rating and issued a $190.00 price objective (up from $180.00) on shares of Tenet Healthcare 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 target for the company. in a report on Friday, November 22nd. Finally, Wells Fargo & Company lowered shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $205.00 to $150.00 in a research note on Monday, November 25th.

Tenet Healthcare Stock Up 0.0 %

Shares of THC opened at $127.97 on Wednesday. The stock has a market capitalization of $12.17 billion, a price-to-earnings ratio of 4.10, a PEG ratio of 0.61 and a beta of 2.06. Tenet Healthcare has a 52 week low of $73.21 and a 52 week high of $171.20. 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 stock has a fifty day moving average of $146.53 and a 200-day moving average of $148.91.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $5.05 billion. During the same period in the previous year, the business posted $1.44 earnings per share. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tenet Healthcare will post 11.38 earnings per share for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other news, EVP Lisa Y. Foo sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $155.94, for a total transaction of $623,760.00. Following the completion of the sale, the executive vice president now directly owns 15,566 shares of the company’s stock, valued at $2,427,362.04. The trade was a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.93% of the stock is owned by insiders.

Institutional Trading of Tenet Healthcare

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in Tenet Healthcare by 88.0% during the third quarter. FMR LLC now owns 7,700,693 shares of the company’s stock worth $1,279,855,000 after buying an additional 3,604,161 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Tenet Healthcare by 23.6% in the third quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock valued at $339,893,000 after purchasing an additional 390,316 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Tenet Healthcare by 7,223.1% during the second quarter. Acadian Asset Management LLC now owns 326,244 shares of the company’s stock worth $43,385,000 after purchasing an additional 321,789 shares during the last quarter. Iron Triangle Partners LP purchased a new stake in Tenet Healthcare in the 3rd quarter valued at about $51,346,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Tenet Healthcare by 344.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 317,198 shares of the company’s stock worth $52,718,000 after buying an additional 245,875 shares during the last quarter. 95.44% of the stock is 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.