Tenet Healthcare Co. (NYSE:THC) Receives $163.88 Consensus Price Target from Analysts

Shares of Tenet Healthcare Co. (NYSE:THC) have received an average recommendation of “Moderate Buy” from the eighteen brokerages that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $163.88.

Several brokerages have weighed in on THC. Wells Fargo & Company downgraded Tenet Healthcare from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $205.00 to $150.00 in a report on Monday, November 25th. KeyCorp dropped their target price on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Raymond James lowered Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target on the stock. in a research note on Friday, November 22nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $177.00 price objective on shares of Tenet Healthcare in a report on Thursday, February 13th. Finally, StockNews.com upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Thursday.

Tenet Healthcare Stock Down 4.2 %

Shares of NYSE:THC opened at $121.11 on Monday. The company has a market capitalization of $11.52 billion, a P/E ratio of 3.76, a P/E/G ratio of 1.02 and a beta of 2.06. The stock’s fifty day simple moving average is $132.57 and its 200-day simple moving average is $145.21. Tenet Healthcare has a 52-week low of $90.03 and a 52-week high of $171.20. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. As a group, equities research analysts forecast that Tenet Healthcare will post 12.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director J Robert Kerrey sold 9,525 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the sale, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.93% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tenet Healthcare

Institutional investors have recently modified their holdings of the stock. New Wave Wealth Advisors LLC bought a new position in Tenet Healthcare during the fourth quarter worth $343,000. Swedbank AB lifted its position in shares of Tenet Healthcare by 100.0% in the 4th quarter. Swedbank AB now owns 40,000 shares of the company’s stock worth $5,049,000 after buying an additional 20,000 shares during the last quarter. Signet Financial Management LLC bought a new stake in shares of Tenet Healthcare during the 4th quarter valued at about $1,526,000. China Universal Asset Management Co. Ltd. acquired a new stake in Tenet Healthcare during the fourth quarter worth about $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Tenet Healthcare in the fourth quarter valued at approximately $5,892,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

About Tenet Healthcare

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.