Tenet Healthcare Co. (NYSE:THC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Tenet Healthcare Co. (NYSE:THC) has been assigned a consensus rating of “Moderate Buy” from the eighteen analysts that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $163.88.

A number of equities research analysts have commented on THC shares. Raymond James cut Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price objective for the company. in a research note on Friday, November 22nd. KeyCorp reduced their price objective on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Wells Fargo & Company cut Tenet Healthcare from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $205.00 to $150.00 in a research report on Monday, November 25th. TD Cowen initiated coverage on Tenet Healthcare in a research report on Wednesday, February 26th. They set a “buy” rating and a $175.00 target price on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $177.00 target price on shares of Tenet Healthcare in a research report on Thursday, February 13th.

Tenet Healthcare Trading Up 1.8 %

Shares of THC stock opened at $127.64 on Monday. The company has a market cap of $12.14 billion, a P/E ratio of 3.96, a PEG ratio of 1.02 and a beta of 2.06. The stock has a 50 day simple moving average of $132.66 and a two-hundred day simple moving average of $145.89. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. Tenet Healthcare has a fifty-two week low of $90.03 and a fifty-two week high of $171.20.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. Research analysts forecast that Tenet Healthcare will post 12.24 earnings per share for the current year.

Institutional Trading of Tenet Healthcare

Several hedge funds have recently made changes to their positions in THC. Plato Investment Management Ltd bought a new stake in shares of Tenet Healthcare during the 3rd quarter valued at $28,000. Colonial Trust Co SC raised its stake in shares of Tenet Healthcare by 85.7% during the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company’s stock valued at $31,000 after purchasing an additional 114 shares during the period. GeoWealth Management LLC raised its stake in shares of Tenet Healthcare by 39.8% during the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock valued at $37,000 after purchasing an additional 84 shares during the period. True Wealth Design LLC bought a new stake in shares of Tenet Healthcare during the 3rd quarter valued at $38,000. Finally, WR Wealth Planners LLC increased its stake in Tenet Healthcare by 2,836.4% in the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock worth $41,000 after acquiring an additional 312 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors.

About Tenet Healthcare

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.