Tenet Healthcare Co. (NYSE:THC) Receives $165.00 Consensus Target Price from Analysts

Shares of Tenet Healthcare Co. (NYSE:THC) have been given an average recommendation of “Moderate Buy” by the seventeen analysts that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $163.19.

THC has been the subject of a number of analyst reports. Barclays reduced their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a report on Thursday. KeyCorp decreased their price objective on 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 increased their target price on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company lowered Tenet Healthcare from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $205.00 to $150.00 in a research note on Monday, November 25th. Finally, StockNews.com cut Tenet Healthcare from a “buy” rating to a “hold” rating in a report on Thursday.

Tenet Healthcare Stock Performance

NYSE THC opened at $133.40 on Thursday. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52. The company’s fifty day moving average is $133.32 and its two-hundred day moving average is $148.11. Tenet Healthcare has a 52-week low of $88.57 and a 52-week high of $171.20. The firm has a market capitalization of $12.69 billion, a price-to-earnings ratio of 4.27, a P/E/G ratio of 0.63 and a beta of 2.05.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. Equities research analysts forecast that Tenet Healthcare will post 11.37 EPS for the current year.

Institutional Trading of Tenet Healthcare

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Plato Investment Management Ltd bought a new stake in shares of Tenet Healthcare during the third quarter worth $28,000. ORG Wealth Partners LLC bought a new stake in Tenet Healthcare during the 3rd quarter worth about $30,000. Financial Management Professionals Inc. boosted its stake in shares of Tenet Healthcare by 2,222.2% in the 3rd quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock valued at $35,000 after purchasing an additional 200 shares during the last quarter. True Wealth Design LLC acquired a new position in shares of Tenet Healthcare in the 3rd quarter valued at $38,000. Finally, GeoWealth Management LLC boosted its position in shares of Tenet Healthcare by 39.8% in the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock worth $37,000 after purchasing an additional 84 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

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.