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

Tenet Healthcare Co. (NYSE:THC) has earned an average recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $166.88.

A number of research firms recently commented on THC. Wells Fargo & Company downgraded shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $205.00 to $150.00 in a report on Monday, November 25th. Barclays raised their price objective on Tenet Healthcare from $171.00 to $190.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. The Goldman Sachs Group lowered Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their target price for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. KeyCorp initiated coverage on Tenet Healthcare in a research note on Friday, October 11th. They issued an “overweight” rating and a $200.00 price target on the stock. Finally, StockNews.com lowered shares of Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 17th.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value 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 $2,427,362.04. The trade was a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

Several institutional investors and hedge funds have recently modified their holdings of the business. Legacy Capital Group California Inc. acquired a new stake in shares of Tenet Healthcare in the third quarter worth about $1,055,000. Caprock Group LLC acquired a new stake in Tenet Healthcare in the 2nd quarter worth approximately $477,000. Intech Investment Management LLC boosted its position in Tenet Healthcare by 44.4% during the third quarter. Intech Investment Management LLC now owns 79,266 shares of the company’s stock worth $13,174,000 after purchasing an additional 24,385 shares during the period. Swiss National Bank raised its position in shares of Tenet Healthcare by 8.7% in the third quarter. Swiss National Bank now owns 190,800 shares of the company’s stock valued at $31,711,000 after purchasing an additional 15,200 shares during the period. Finally, Estate Counselors LLC acquired a new stake in shares of Tenet Healthcare in the third quarter worth $1,792,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Trading Up 0.1 %

Tenet Healthcare stock opened at $129.71 on Wednesday. Tenet Healthcare has a 12-month low of $73.21 and a 12-month high of $171.20. The stock has a market capitalization of $12.34 billion, a PE ratio of 4.16, a price-to-earnings-growth ratio of 0.61 and a beta of 2.06. The firm has a 50 day simple moving average of $148.61 and a 200-day simple moving average of $149.17. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.60. The business had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The company’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.44 earnings per share. As a group, equities research analysts expect that Tenet Healthcare will post 11.38 EPS for the current fiscal year.

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.