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

Shares of Tenet Healthcare Corporation (NYSE:THC) have earned an average recommendation of “Moderate Buy” from the twenty brokerages that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $233.8125.

THC has been the subject of several recent analyst reports. Weiss Ratings raised shares of Tenet Healthcare from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. Royal Bank Of Canada boosted their price objective on Tenet Healthcare from $230.00 to $252.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Guggenheim increased their target price on Tenet Healthcare from $238.00 to $257.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Raymond James Financial set a $245.00 price target on Tenet Healthcare in a report on Wednesday, October 29th. Finally, Barclays lifted their price objective on shares of Tenet Healthcare from $229.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, November 21st.

Tenet Healthcare Trading Up 0.3%

Shares of THC opened at $189.73 on Thursday. Tenet Healthcare has a one year low of $109.82 and a one year high of $222.82. The stock has a 50-day moving average price of $200.89 and a 200 day moving average price of $191.83. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.64 and a current ratio of 1.71. The company has a market capitalization of $16.68 billion, a P/E ratio of 13.00, a P/E/G ratio of 0.80 and a beta of 1.41.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Tuesday, October 28th. The company reported $3.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.33 by $0.37. Tenet Healthcare had a return on equity of 25.11% and a net margin of 6.49%.The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same period in the prior year, the company posted $2.93 EPS. Tenet Healthcare’s quarterly revenue was up 3.2% on a year-over-year basis. Sell-side analysts forecast that Tenet Healthcare will post 12.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Tammy Romo sold 645 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $205.20, for a total transaction of $132,354.00. Following the completion of the transaction, the director owned 34,866 shares in the company, valued at $7,154,503.20. The trade was a 1.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Nadja West sold 2,178 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $197.47, for a total value of $430,089.66. Following the completion of the sale, the director directly owned 28,480 shares in the company, valued at $5,623,945.60. This represents a 7.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 43,000 shares of company stock worth $8,725,996 over the last quarter. 0.81% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in Tenet Healthcare in the second quarter worth about $206,981,000. Eminence Capital LP bought a new stake in shares of Tenet Healthcare during the 3rd quarter worth about $225,263,000. Boston Partners boosted its holdings in shares of Tenet Healthcare by 95.0% in the second quarter. Boston Partners now owns 2,267,142 shares of the company’s stock valued at $398,949,000 after acquiring an additional 1,104,500 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Tenet Healthcare by 62.3% during the third quarter. AQR Capital Management LLC now owns 1,876,423 shares of the company’s stock valued at $380,989,000 after acquiring an additional 720,160 shares during the period. Finally, Alliancebernstein L.P. lifted its position in Tenet Healthcare by 375.7% in the second quarter. Alliancebernstein L.P. now owns 790,254 shares of the company’s stock worth $139,085,000 after purchasing an additional 624,125 shares during the period. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.