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

Shares of Tenet Healthcare Co. (NYSE:THC) have been assigned a consensus rating of “Buy” from the sixteen research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $100.38.

A number of equities research analysts recently weighed in on THC shares. Mizuho boosted their price target on shares of Tenet Healthcare from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Wolfe Research raised shares of Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 price target for the company in a research note on Wednesday, March 27th. Royal Bank of Canada boosted their price target on shares of Tenet Healthcare from $97.00 to $109.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Truist Financial boosted their price objective on shares of Tenet Healthcare from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, February 9th. Finally, Barclays began coverage on shares of Tenet Healthcare in a report on Wednesday, March 6th. They set an “overweight” rating and a $113.00 price objective for the company.

Insider Activity

In related news, Director Richard J. Mark sold 14,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the completion of the transaction, the director now owns 33,303 shares in the company, valued at $3,296,330.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tenet Healthcare news, Director Richard J. Mark sold 14,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the sale, the director now directly owns 33,303 shares of the company’s stock, valued at $3,296,330.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard W. Fisher sold 2,100 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total transaction of $185,241.00. Following the completion of the transaction, the director now directly owns 20,127 shares in the company, valued at $1,775,402.67. The disclosure for this sale can be found here. Insiders sold 51,268 shares of company stock worth $4,944,810 over the last quarter. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tenet Healthcare

A number of large investors have recently bought and sold shares of THC. Rise Advisors LLC acquired a new stake in Tenet Healthcare during the first quarter worth about $29,000. Northwestern Mutual Wealth Management Co. grew its stake in Tenet Healthcare by 46.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 629 shares of the company’s stock worth $31,000 after buying an additional 199 shares in the last quarter. Belpointe Asset Management LLC boosted its stake in shares of Tenet Healthcare by 94.1% in the 1st quarter. Belpointe Asset Management LLC now owns 588 shares of the company’s stock valued at $35,000 after purchasing an additional 285 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Tenet Healthcare by 1,063.9% in the 1st quarter. Parkside Financial Bank & Trust now owns 419 shares of the company’s stock valued at $36,000 after purchasing an additional 383 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Tenet Healthcare in the 1st quarter valued at approximately $36,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Tenet Healthcare Trading Down 5.2 %

Shares of NYSE THC opened at $91.05 on Friday. Tenet Healthcare has a 1-year low of $51.04 and a 1-year high of $107.80. The company has a market cap of $9.03 billion, a PE ratio of 15.95, a P/E/G ratio of 3.15 and a beta of 2.08. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 4.77. The company has a 50-day moving average of $97.37 and a two-hundred day moving average of $79.00.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Thursday, February 8th. The company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $1.10. The company had revenue of $5.38 billion during the quarter, compared to the consensus estimate of $5.28 billion. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.96 earnings per share. As a group, equities analysts expect that Tenet Healthcare will post 6.3 earnings per share for the current fiscal 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.