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

Tenet Healthcare Co. (NYSE:THC) has earned an average recommendation of “Moderate Buy” from the seventeen research firms that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $165.00.

THC has been the topic of several recent analyst reports. KeyCorp cut their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada boosted their price objective 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. Cantor Fitzgerald raised their target price on Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lowered Tenet Healthcare from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $205.00 to $150.00 in a research report on Monday, November 25th. Finally, The Goldman Sachs Group cut Tenet Healthcare from a “buy” rating to a “neutral” rating and reduced their target price for the company from $196.00 to $140.00 in a research note on Monday, December 16th.

Tenet Healthcare Stock Down 1.4 %

Shares of THC opened at $130.86 on Friday. The firm has a market cap of $12.44 billion, a P/E ratio of 4.19, a P/E/G ratio of 0.58 and a beta of 2.06. Tenet Healthcare has a 1 year low of $78.77 and a 1 year high of $171.20. The stock has a 50 day simple moving average of $137.71 and a two-hundred day simple moving average of $148.03. 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 posted its quarterly 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. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The business had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the previous year, the firm posted $1.44 earnings per share. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts forecast that Tenet Healthcare will post 11.37 earnings per share for the current fiscal year.

Insider Activity at Tenet Healthcare

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 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 directly owns 15,566 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.93% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tenet Healthcare

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC increased its holdings in Tenet Healthcare by 88.0% during the third quarter. FMR LLC now owns 7,700,693 shares of the company’s stock valued at $1,279,855,000 after buying an additional 3,604,161 shares during the last quarter. Geode Capital Management LLC raised its holdings in Tenet Healthcare by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock worth $339,893,000 after purchasing an additional 390,316 shares during the period. Marshall Wace LLP lifted its position in Tenet Healthcare by 7.3% during the second quarter. Marshall Wace LLP now owns 713,979 shares of the company’s stock valued at $94,981,000 after purchasing an additional 48,626 shares in the last quarter. Farallon Capital Management LLC grew its holdings in Tenet Healthcare by 7.8% during the second quarter. Farallon Capital Management LLC now owns 687,442 shares of the company’s stock valued at $91,450,000 after purchasing an additional 50,000 shares during the period. Finally, Integral Health Asset Management LLC raised its stake in shares of Tenet Healthcare by 17.6% in the second quarter. Integral Health Asset Management LLC now owns 500,000 shares of the company’s stock worth $66,515,000 after buying an additional 75,000 shares during the period. 95.44% of the stock is owned by institutional investors.

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.