Brokerages Set Tenet Healthcare Co. (NYSE:THC) Target Price at $165.00

Tenet Healthcare Co. (NYSE:THC) has received a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $165.00.

A number of research firms have issued reports on THC. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $175.00 price target on shares of Tenet Healthcare in a research report on Tuesday, December 17th. StockNews.com downgraded shares of Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 17th. Barclays increased their price objective on shares of Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. UBS Group lifted their price objective on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald raised their price target on Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th.

Insider Buying and Selling

In other news, EVP Lisa Y. Foo sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $155.94, for a total value of $623,760.00. Following the transaction, the executive vice president now owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. The trade was a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tenet Healthcare

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Plato Investment Management Ltd purchased a new position in Tenet Healthcare in the third quarter worth $28,000. ORG Wealth Partners LLC purchased a new stake in Tenet Healthcare during the third quarter worth about $30,000. Financial Management Professionals Inc. increased its holdings in Tenet Healthcare by 2,222.2% in the third quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock valued at $35,000 after buying an additional 200 shares in the last quarter. True Wealth Design LLC acquired a new stake in shares of Tenet Healthcare during the 3rd quarter valued at approximately $38,000. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Tenet Healthcare in the 2nd quarter worth approximately $34,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Stock Up 2.8 %

Shares of NYSE:THC opened at $134.56 on Friday. The firm’s 50-day moving average is $136.39 and its two-hundred day moving average is $148.10. 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 has a 1 year low of $79.00 and a 1 year high of $171.20. The firm has a market capitalization of $12.80 billion, a PE ratio of 4.31, a price-to-earnings-growth ratio of 0.59 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last released its earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.60. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The company had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same period in the prior year, the business earned $1.44 EPS. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. Analysts predict that Tenet Healthcare will post 11.37 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.