Tenet Healthcare Co. (NYSE:THC) Given Consensus Rating of “Buy” by Brokerages

Tenet Healthcare Co. (NYSE:THC) has earned a consensus rating of “Buy” from the seventeen research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, fourteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $152.69.

A number of brokerages have weighed in on THC. UBS Group boosted their target price on shares of Tenet Healthcare from $180.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Raymond James boosted their target price on shares of Tenet Healthcare from $130.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. The Goldman Sachs Group boosted their target price on shares of Tenet Healthcare from $156.00 to $173.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tenet Healthcare from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Wells Fargo & Company lifted their price target on shares of Tenet Healthcare from $145.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th.

Tenet Healthcare Price Performance

NYSE:THC opened at $152.78 on Friday. The company has a 50-day moving average of $158.29 and a 200-day moving average of $136.12. The company has a market capitalization of $14.92 billion, a price-to-earnings ratio of 5.93, a PEG ratio of 0.86 and a beta of 2.14. Tenet Healthcare has a 52 week low of $51.04 and a 52 week high of $171.20. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.38 and a current ratio of 1.45.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.42. Tenet Healthcare had a net margin of 13.17% and a return on equity of 24.66%. The firm had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $4.98 billion. As a group, equities research analysts anticipate that Tenet Healthcare will post 10.72 earnings per share for the current fiscal year.

Tenet Healthcare announced that its Board of Directors has approved a share buyback program on Wednesday, July 24th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 10.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director Richard W. Fisher sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $163.67, for a total transaction of $327,340.00. Following the sale, the director now directly owns 14,227 shares of the company’s stock, valued at approximately $2,328,533.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Tenet Healthcare news, Director Richard W. Fisher sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $163.67, for a total transaction of $327,340.00. Following the sale, the director now directly owns 14,227 shares of the company’s stock, valued at approximately $2,328,533.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider R. Scott Ramsey sold 11,599 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the completion of the transaction, the insider now owns 6,324 shares in the company, valued at approximately $1,024,867.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 128,203 shares of company stock valued at $19,754,997 over the last 90 days. 0.93% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tenet Healthcare

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Tenet Healthcare by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 11,110,396 shares of the company’s stock valued at $839,613,000 after acquiring an additional 172,913 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Tenet Healthcare by 113.5% in the first quarter. BNP Paribas Financial Markets now owns 54,878 shares of the company’s stock valued at $5,768,000 after acquiring an additional 29,172 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Tenet Healthcare in the first quarter valued at about $410,000. Greenlight Capital Inc. grew its stake in shares of Tenet Healthcare by 44.3% in the fourth quarter. Greenlight Capital Inc. now owns 1,315,970 shares of the company’s stock valued at $99,448,000 after acquiring an additional 404,190 shares in the last quarter. Finally, Diversified Trust Co acquired a new position in shares of Tenet Healthcare in the second quarter valued at about $558,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

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.