Tenet Healthcare Co. (NYSE:THC) Receives $165.44 Consensus PT from Brokerages

Shares of Tenet Healthcare Co. (NYSE:THC) have earned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $172.19.

Several equities research analysts have recently weighed in on the company. Truist Financial decreased their price target on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $177.00 target price on shares of Tenet Healthcare in a research report on Thursday, February 13th. StockNews.com upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday. Royal Bank of Canada increased their price objective on shares of Tenet Healthcare from $183.00 to $189.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Morgan Stanley started coverage on shares of Tenet Healthcare in a research report on Wednesday, March 26th. They set an “overweight” rating and a $165.00 price target on the stock.

Insiders Place Their Bets

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value of $1,194,720.75. Following the sale, the director now owns 27,378 shares of the company’s stock, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Tenet Healthcare

Institutional investors have recently made changes to their positions in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Tenet Healthcare during the first quarter worth approximately $26,000. Wayfinding Financial LLC purchased a new position in shares of Tenet Healthcare during the first quarter valued at approximately $28,000. Colonial Trust Co SC increased its position in Tenet Healthcare by 85.7% during the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company’s stock valued at $31,000 after purchasing an additional 114 shares during the period. GeoWealth Management LLC lifted its position in shares of Tenet Healthcare by 39.8% in the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock worth $37,000 after purchasing an additional 84 shares during the period. Finally, WR Wealth Planners LLC boosted its stake in shares of Tenet Healthcare by 2,836.4% during the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock valued at $41,000 after purchasing an additional 312 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Up 1.7 %

NYSE THC opened at $145.41 on Tuesday. Tenet Healthcare has a fifty-two week low of $109.82 and a fifty-two week high of $171.20. The business has a fifty day moving average price of $126.82 and a two-hundred day moving average price of $136.56. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The stock has a market capitalization of $13.72 billion, a PE ratio of 4.51, a PEG ratio of 1.02 and a beta of 1.77.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $1.25. The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $3.22 earnings per share. Equities analysts expect that Tenet Healthcare will post 12.24 earnings per share for the current fiscal year.

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.