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

Tenet Healthcare Co. (NYSE:THCGet Rating) has earned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $71.19.

Several equities analysts recently issued reports on THC shares. Stephens cut their price objective on shares of Tenet Healthcare from $65.00 to $45.00 and set an “equal weight” rating on the stock in a report on Monday, October 24th. Mizuho cut their price objective on shares of Tenet Healthcare from $80.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, November 2nd. Barclays cut their price target on shares of Tenet Healthcare from $104.00 to $67.00 and set an “overweight” rating on the stock in a report on Monday, October 24th. Truist Financial lifted their price target on shares of Tenet Healthcare from $55.00 to $60.00 in a report on Tuesday, January 3rd. Finally, SVB Leerink cut their price target on shares of Tenet Healthcare from $89.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, October 25th.

Insider Buying and Selling

In related news, Director Richard W. Fisher sold 9,817 shares of the company’s stock in a transaction dated Tuesday, December 6th. The shares were sold at an average price of $43.86, for a total transaction of $430,573.62. Following the completion of the transaction, the director now owns 24,545 shares in the company, valued at approximately $1,076,543.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. US Bancorp DE grew its stake in Tenet Healthcare by 14.6% during the 1st quarter. US Bancorp DE now owns 1,428 shares of the company’s stock valued at $123,000 after acquiring an additional 182 shares in the last quarter. HighTower Advisors LLC purchased a new stake in Tenet Healthcare during the 1st quarter valued at about $219,000. Natixis Advisors L.P. purchased a new stake in shares of Tenet Healthcare in the 1st quarter valued at approximately $1,651,000. APG Asset Management N.V. purchased a new stake in shares of Tenet Healthcare in the 1st quarter valued at approximately $1,769,000. Finally, Great West Life Assurance Co. Can grew its stake in shares of Tenet Healthcare by 13.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 63,273 shares of the company’s stock valued at $5,604,000 after buying an additional 7,365 shares during the period. Institutional investors and hedge funds own 98.14% of the company’s stock.

Tenet Healthcare Stock Performance

Tenet Healthcare stock opened at $50.25 on Wednesday. The company has a market capitalization of $5.43 billion, a PE ratio of 9.89, a P/E/G ratio of 1.57 and a beta of 2.16. The company has a 50 day moving average price of $47.25 and a 200-day moving average price of $52.55. The company has a debt-to-equity ratio of 5.97, a quick ratio of 1.31 and a current ratio of 1.40. Tenet Healthcare has a fifty-two week low of $36.69 and a fifty-two week high of $92.65.

Tenet Healthcare declared that its board has authorized a stock repurchase program on Thursday, October 20th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 22.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Tenet Healthcare Company Profile

(Get Rating)

Tenet Healthcare Corp. engages in the provision of health care services. It operates through the following segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The Hospital Operations and Other segment consists of acute care hospitals, ancillary outpatient facilities, urgent care centers, microhospitals and physician practices.

See Also

Analyst Recommendations for Tenet Healthcare (NYSE:THC)

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