Tenet Healthcare Co. (NYSE:THC) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Tenet Healthcare Co. (NYSE:THC) have been assigned a consensus rating of “Moderate Buy” from the eighteen brokerages that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $174.94.

A number of research analysts have commented on the company. Cantor Fitzgerald restated an “overweight” rating and set a $177.00 price target on shares of Tenet Healthcare in a research note on Thursday, February 13th. UBS Group increased their price objective on Tenet Healthcare from $217.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. The Goldman Sachs Group increased their price objective on Tenet Healthcare from $134.00 to $154.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Baird R W cut Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Finally, Guggenheim began coverage on Tenet Healthcare in a research note on Wednesday, April 9th. They issued a “buy” rating and a $165.00 price objective on the stock.

Tenet Healthcare Trading Up 1.1%

NYSE THC opened at $163.05 on Friday. The firm’s 50-day moving average is $136.90 and its two-hundred day moving average is $136.60. Tenet Healthcare has a 12 month low of $109.82 and a 12 month high of $171.20. 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 $15.14 billion, a P/E ratio of 5.06, a PEG ratio of 1.02 and a beta of 1.63.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, beating analysts’ consensus estimates of $3.11 by $1.25. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The company had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.15 billion. During the same quarter in the prior year, the company posted $3.22 earnings per share. Tenet Healthcare’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Tenet Healthcare will post 12.24 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director J Robert Kerrey sold 5,001 shares of the firm’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $148.50, for a total transaction of $742,648.50. Following the transaction, the director now owns 22,377 shares of the company’s stock, valued at $3,322,984.50. This trade represents a 18.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Paola M. Arbour sold 6,461 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $160.20, for a total value of $1,035,052.20. Following the transaction, the executive vice president now directly owns 27,848 shares in the company, valued at approximately $4,461,249.60. This represents a 18.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,773 shares of company stock valued at $4,596,897. 0.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tenet Healthcare

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Tenet Healthcare by 4.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 276,969 shares of the company’s stock valued at $37,252,000 after purchasing an additional 12,914 shares during the period. Empowered Funds LLC lifted its position in Tenet Healthcare by 19.6% in the first quarter. Empowered Funds LLC now owns 154,754 shares of the company’s stock valued at $20,814,000 after purchasing an additional 25,323 shares during the period. United Services Automobile Association acquired a new stake in Tenet Healthcare in the first quarter valued at about $821,000. Fred Alger Management LLC acquired a new stake in Tenet Healthcare in the first quarter valued at about $2,652,000. Finally, Jones Financial Companies Lllp lifted its position in Tenet Healthcare by 299.1% in the first quarter. Jones Financial Companies Lllp now owns 1,700 shares of the company’s stock valued at $229,000 after purchasing an additional 1,274 shares during the period. Hedge funds and other institutional investors own 95.44% of the company’s stock.

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.