Tenet Healthcare Co. (NYSE:THC) Given Consensus Rating of “Buy” by Analysts

Shares of Tenet Healthcare Co. (NYSE:THC) have been assigned a consensus recommendation of “Buy” from the seventeen brokerages that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $168.19.

Several research analysts have commented on the stock. Wells Fargo & Company cut shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. Cantor Fitzgerald raised their target price on Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Raymond James lowered Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target for the company. in a research report on Friday, November 22nd. Barclays lifted their price objective 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. Finally, Truist Financial reiterated a “buy” rating and issued a $190.00 target price (up previously from $180.00) on shares of Tenet Healthcare in a research report on Wednesday, October 30th.

Tenet Healthcare Stock Up 0.5 %

Shares of Tenet Healthcare stock opened at $142.68 on Friday. Tenet Healthcare has a twelve month low of $66.64 and a twelve month high of $171.20. The stock has a market capitalization of $13.57 billion, a price-to-earnings ratio of 4.57, a PEG ratio of 0.64 and a beta of 2.15. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. The business’s 50 day simple moving average is $157.32 and its 200-day simple moving average is $148.36.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.60. The company had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business posted $1.44 earnings per share. Equities research analysts forecast that Tenet Healthcare will post 11.38 earnings per share for the current year.

Insider Transactions at Tenet Healthcare

In related news, EVP Lisa Y. Foo sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $2,427,362.04. This trade represents a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider R. Scott Ramsey sold 11,599 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the completion of the transaction, the insider now owns 6,324 shares in the company, valued at approximately $1,024,867.44. This represents a 64.72 % decrease in their position. The disclosure for this sale can be found here. 0.93% of the stock is owned by insiders.

Hedge Funds Weigh In On Tenet Healthcare

A number of hedge funds have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. raised its position in Tenet Healthcare by 10.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 4,148 shares of the company’s stock valued at $436,000 after acquiring an additional 387 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Tenet Healthcare in the 1st quarter valued at $2,213,000. Cetera Investment Advisers acquired a new position in Tenet Healthcare during the first quarter worth $1,772,000. Cetera Advisors LLC bought a new position in Tenet Healthcare during the first quarter valued at about $227,000. Finally, Boston Partners lifted its position in shares of Tenet Healthcare by 230.4% in the first quarter. Boston Partners now owns 119,348 shares of the company’s stock worth $12,527,000 after buying an additional 83,231 shares during the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

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.