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

Tenet Healthcare Co. (NYSE:THC) has been given an average rating of “Buy” by the eighteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, fourteen have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $163.65.

A number of research analysts have issued reports on the stock. Truist Financial reaffirmed a “buy” rating and issued a $190.00 price target (up previously from $180.00) on shares of Tenet Healthcare in a report on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on shares of Tenet Healthcare from $173.00 to $196.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Barclays lifted their price objective on shares of Tenet Healthcare from $156.00 to $171.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Royal Bank of Canada increased their target price on shares of Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald increased their price target on shares of Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th.

Insider Transactions at Tenet Healthcare

In related news, EVP Lisa Y. Foo sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total transaction of $623,760.00. Following the completion of the transaction, the executive vice president now owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the firm’s 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 transaction, the executive vice president now owns 15,566 shares of the company’s stock, valued at $2,427,362.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Paola M. Arbour sold 8,377 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $156.00, for a total transaction of $1,306,812.00. Following the transaction, the executive vice president now owns 21,426 shares of the company’s stock, valued at approximately $3,342,456. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,203 shares of company stock valued at $17,451,957 in the last ninety days. 0.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tenet Healthcare

Hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Tenet Healthcare by 0.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,604 shares of the company’s stock worth $1,325,000 after buying an additional 90 shares in the last quarter. Optas LLC increased its position in shares of Tenet Healthcare by 3.4% in the third quarter. Optas LLC now owns 2,821 shares of the company’s stock worth $469,000 after acquiring an additional 93 shares in the last quarter. Signaturefd LLC increased its position in shares of Tenet Healthcare by 17.6% in the third quarter. Signaturefd LLC now owns 628 shares of the company’s stock worth $104,000 after acquiring an additional 94 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Tenet Healthcare by 20.7% in the second quarter. EverSource Wealth Advisors LLC now owns 560 shares of the company’s stock worth $74,000 after acquiring an additional 96 shares in the last quarter. Finally, First Citizens Bank & Trust Co. grew its position in Tenet Healthcare by 5.1% during the third quarter. First Citizens Bank & Trust Co. now owns 2,226 shares of the company’s stock valued at $370,000 after purchasing an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

NYSE:THC opened at $162.38 on Tuesday. The stock has a market cap of $15.44 billion, a P/E ratio of 5.20, a price-to-earnings-growth ratio of 0.69 and a beta of 2.15. The firm’s fifty day simple moving average is $159.38 and its 200 day simple moving average is $142.71. Tenet Healthcare has a twelve month low of $52.08 and a twelve month high of $171.20. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 2.35.

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

Tenet Healthcare announced that its board has approved a stock repurchase plan on Wednesday, July 24th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 10.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

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.