Tenet Healthcare Co. (NYSE:THC – Get 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
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
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.
- Get a free copy of the StockNews.com research report on Tenet Healthcare (THC)
- Can Coty Stock Emerge in 2023 With Upside
- Should You Bet Against The Nasdaq 100 With This Inverse ETF?
- Insiders Buy Archer Aviation, Is This Stock About To Take Off?
- Intuit Is About To Make a Move, But Which Way?
- 3 Late January Earnings Plays With Pop Potential
Receive News & Ratings for Tenet Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenet Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.