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

Shares of Tenet Healthcare Co. (NYSE:THC) have earned an average rating of “Buy” from the sixteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $100.38.

A number of equities analysts recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $104.00 target price on shares of Tenet Healthcare in a research note on Wednesday, April 10th. Royal Bank of Canada increased their target price on shares of Tenet Healthcare from $97.00 to $109.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Wells Fargo & Company increased their price target on shares of Tenet Healthcare from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Tenet Healthcare from $100.00 to $126.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, TheStreet upgraded shares of Tenet Healthcare from a “c+” rating to a “b-” rating in a report on Tuesday, February 6th.

Insider Activity

In other news, Director Richard J. Mark sold 14,000 shares of Tenet Healthcare stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total value of $1,385,720.00. Following the completion of the transaction, the director now directly owns 33,303 shares of the company’s stock, valued at approximately $3,296,330.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Tenet Healthcare news, Director Richard W. Fisher sold 2,100 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total transaction of $185,241.00. Following the completion of the transaction, the director now directly owns 20,127 shares of the company’s stock, valued at approximately $1,775,402.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard J. Mark sold 14,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the transaction, the director now directly owns 33,303 shares of the company’s stock, valued at $3,296,330.94. The disclosure for this sale can be found here. In the last three months, insiders sold 51,268 shares of company stock valued at $4,944,810. Company insiders own 1.30% of the company’s stock.

Institutional Trading of Tenet Healthcare

A number of hedge funds and other institutional investors have recently made changes to their positions in THC. US Bancorp DE raised its position in shares of Tenet Healthcare by 14.6% during the 1st quarter. US Bancorp DE now owns 1,428 shares of the company’s stock worth $123,000 after buying an additional 182 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of Tenet Healthcare in the 1st quarter worth approximately $219,000. Natixis Advisors L.P. bought a new stake in shares of Tenet Healthcare in the 1st quarter worth approximately $1,651,000. APG Asset Management N.V. bought a new stake in shares of Tenet Healthcare in the 1st quarter worth approximately $1,769,000. Finally, Great West Life Assurance Co. Can raised its holdings 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 worth $5,604,000 after purchasing an additional 7,365 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors.

Tenet Healthcare Trading Down 5.2 %

Shares of Tenet Healthcare stock opened at $91.05 on Friday. The stock has a market cap of $9.03 billion, a P/E ratio of 15.95, a P/E/G ratio of 3.15 and a beta of 2.08. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.51 and a quick ratio of 1.42. The stock’s 50 day simple moving average is $97.37 and its 200-day simple moving average is $79.00. Tenet Healthcare has a 1-year low of $51.04 and a 1-year high of $107.80.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Thursday, February 8th. The company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $1.10. Tenet Healthcare had a return on equity of 26.34% and a net margin of 2.97%. The company had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the previous year, the company earned $1.96 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Analysts predict that Tenet Healthcare will post 6.3 EPS 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.