Tenet Healthcare Co. (NYSE:THC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Tenet Healthcare Co. (NYSE:THC) have been given a consensus recommendation of “Moderate Buy” by the seventeen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $165.00.

THC has been the topic of a number of research reports. KeyCorp decreased their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Barclays upped their price target on shares of Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Truist Financial decreased their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. UBS Group upped their price target on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald increased their target price on shares of Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th.

Hedge Funds Weigh In On Tenet Healthcare

Several large investors have recently modified their holdings of the business. Plato Investment Management Ltd acquired a new stake in shares of Tenet Healthcare during the third quarter worth $28,000. ORG Wealth Partners LLC acquired a new stake in shares of Tenet Healthcare during the third quarter worth $30,000. Financial Management Professionals Inc. increased its position in shares of Tenet Healthcare by 2,222.2% during the third 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 period. True Wealth Design LLC acquired a new stake in shares of Tenet Healthcare during the third quarter worth $38,000. Finally, WR Wealth Planners LLC increased its position in shares of Tenet Healthcare by 2,836.4% during the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock worth $41,000 after buying an additional 312 shares during the period. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Down 9.0 %

Shares of THC stock opened at $126.29 on Thursday. 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 firm’s 50-day moving average is $133.55 and its 200-day moving average is $148.37. The stock has a market cap of $12.01 billion, a price-to-earnings ratio of 4.05, a PEG ratio of 0.63 and a beta of 2.05. Tenet Healthcare has a 52-week low of $86.90 and a 52-week high of $171.20.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. Sell-side analysts predict that Tenet Healthcare will post 11.37 EPS for the current year.

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.