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

Tenet Healthcare Co. (NYSE:THC) has earned an average rating of “Moderate Buy” from the seventeen analysts that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $166.88.

A number of equities analysts have recently commented on the stock. Cantor Fitzgerald raised their target price on shares of Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group cut Tenet Healthcare from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. KeyCorp assumed coverage on Tenet Healthcare in a report on Friday, October 11th. They set an “overweight” rating and a $200.00 target price on the stock. Barclays increased their price objective on shares of Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Finally, Raymond James cut shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price on the stock. in a research report on Friday, November 22nd.

Insider Buying and Selling

In related news, EVP Lisa Y. Foo sold 4,000 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $155.94, for a total transaction of $623,760.00. Following the sale, the executive vice president now owns 15,566 shares in the company, valued at $2,427,362.04. This represents a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tenet Healthcare

Several institutional investors have recently made changes to their positions in the stock. Legacy Capital Group California Inc. bought a new position in shares of Tenet Healthcare during the third quarter worth about $1,055,000. Caprock Group LLC acquired a new stake in shares of Tenet Healthcare in the second quarter valued at approximately $477,000. Intech Investment Management LLC raised its holdings in shares of Tenet Healthcare by 44.4% during the third quarter. Intech Investment Management LLC now owns 79,266 shares of the company’s stock valued at $13,174,000 after buying an additional 24,385 shares during the last quarter. Swiss National Bank grew its holdings in Tenet Healthcare by 8.7% in the 3rd quarter. Swiss National Bank now owns 190,800 shares of the company’s stock worth $31,711,000 after buying an additional 15,200 shares in the last quarter. Finally, Estate Counselors LLC acquired a new stake in Tenet Healthcare in the 3rd quarter valued at approximately $1,792,000. 95.44% of the stock is owned by institutional investors.

Tenet Healthcare Stock Up 0.1 %

Shares of NYSE:THC opened at $129.71 on Wednesday. The company has a market capitalization of $12.34 billion, a P/E ratio of 4.16, a P/E/G ratio of 0.61 and a beta of 2.06. The stock’s fifty day simple moving average is $148.61 and its 200-day simple moving average is $149.17. Tenet Healthcare has a 52-week low of $73.21 and a 52-week high of $171.20. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates 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 company’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, equities research analysts forecast that Tenet Healthcare will post 11.38 earnings per share for the current fiscal year.

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.