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

Tenet Healthcare Co. (NYSE:THC) has been given a consensus recommendation of “Moderate Buy” by the nineteen research firms that are covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $165.44.

Several research analysts have recently commented on the stock. KeyCorp lowered their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Barclays decreased their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Guggenheim assumed coverage on shares of Tenet Healthcare in a research note on Wednesday, April 9th. They issued a “buy” rating and a $165.00 price objective on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $177.00 price objective on shares of Tenet Healthcare in a research note on Thursday, February 13th.

Insider Buying and Selling

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Tenet Healthcare in the fourth quarter valued at approximately $190,819,000. Wealthfront Advisers LLC bought a new position in Tenet Healthcare during the fourth quarter worth about $69,059,000. Raymond James Financial Inc. bought a new position in Tenet Healthcare during the fourth quarter worth about $49,001,000. Renaissance Technologies LLC lifted its holdings in shares of Tenet Healthcare by 579.2% in the fourth quarter. Renaissance Technologies LLC now owns 438,563 shares of the company’s stock worth $55,360,000 after buying an additional 373,988 shares in the last quarter. Finally, Bridgewater Associates LP lifted its holdings in shares of Tenet Healthcare by 225.4% in the fourth quarter. Bridgewater Associates LP now owns 407,194 shares of the company’s stock worth $51,400,000 after buying an additional 282,071 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Up 1.4 %

Tenet Healthcare stock opened at $123.82 on Tuesday. The stock has a market cap of $11.69 billion, a P/E ratio of 3.84, a P/E/G ratio of 1.02 and a beta of 1.77. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. Tenet Healthcare has a twelve month low of $96.14 and a twelve month high of $171.20. The company’s 50-day moving average price is $126.27 and its two-hundred day moving average price is $136.57.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. As a group, analysts expect that Tenet Healthcare will post 12.24 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.