Brokerages Set Tenet Healthcare Co. (NYSE:THC) PT at $166.41

Shares of Tenet Healthcare Co. (NYSE:THC) have earned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Three research 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. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $166.41.

A number of research firms recently weighed in on THC. KeyCorp dropped their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Barclays cut their price target on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $175.00 price objective on shares of Tenet Healthcare in a report on Tuesday, December 17th. Truist Financial cut their target price on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $177.00 price target on shares of Tenet Healthcare in a research note on Thursday, February 13th.

Tenet Healthcare Stock Performance

Shares of NYSE:THC opened at $120.23 on Friday. The business has a fifty day moving average of $132.13 and a 200-day moving average of $141.29. The firm has a market cap of $11.44 billion, a PE ratio of 3.73, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. Tenet Healthcare has a twelve month low of $90.03 and a twelve month high of $171.20.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, beating analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. On average, equities research analysts predict that Tenet Healthcare will post 12.24 EPS for the current fiscal year.

Insider Transactions at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the sale, the director now directly owns 27,378 shares in the company, valued at approximately $3,434,022.54. This trade represents a 25.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.93% of the company’s stock.

Institutional Trading of Tenet Healthcare

A number of hedge funds have recently made changes to their positions in the business. New Wave Wealth Advisors LLC acquired a new position in shares of Tenet Healthcare in the fourth quarter valued at $343,000. Swedbank AB grew its stake in Tenet Healthcare by 100.0% in the 4th quarter. Swedbank AB now owns 40,000 shares of the company’s stock valued at $5,049,000 after buying an additional 20,000 shares during the last quarter. Signet Financial Management LLC bought a new position in Tenet Healthcare in the 4th quarter valued at about $1,526,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Tenet Healthcare during the fourth quarter worth approximately $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Tenet Healthcare in the fourth quarter valued at approximately $5,892,000. 95.44% of the stock is owned by institutional investors and hedge funds.

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.