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

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

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

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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.