Brokerages Set Tenet Healthcare Co. (NYSE:THC) PT at $166.88

Shares of Tenet Healthcare Co. (NYSE:THC) have earned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $166.88.

Several equities analysts have recently issued reports on the stock. Truist Financial reiterated a “buy” rating and set a $190.00 target price (up from $180.00) on shares of Tenet Healthcare in a report on Wednesday, October 30th. StockNews.com downgraded Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 17th. Wells Fargo & Company downgraded Tenet Healthcare from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $205.00 to $150.00 in a report on Monday, November 25th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $175.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Finally, UBS Group lifted their target price on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th.

Insider Transactions at Tenet Healthcare

In related news, EVP Lisa Y. Foo sold 4,000 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the sale, the executive vice president now owns 15,566 shares in the company, valued at approximately $2,427,362.04. The trade was a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.93% of the company’s stock.

Institutional Trading of Tenet Healthcare

Hedge funds have recently made changes to their positions in the business. Innealta Capital LLC bought a new stake in Tenet Healthcare during the second quarter worth approximately $28,000. Plato Investment Management Ltd bought a new stake in Tenet Healthcare in the third quarter worth $28,000. ORG Wealth Partners LLC bought a new position in Tenet Healthcare during the third quarter valued at $30,000. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Tenet Healthcare in the second quarter valued at $34,000. Finally, Financial Management Professionals Inc. boosted its stake in shares of Tenet Healthcare by 2,222.2% during the 3rd quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock worth $35,000 after purchasing an additional 200 shares during the period. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Stock Performance

Tenet Healthcare stock opened at $127.97 on Wednesday. The firm has a 50-day moving average of $146.53 and a 200-day moving average of $148.82. The firm has a market cap of $12.17 billion, a P/E ratio of 4.10, a P/E/G ratio of 0.61 and a beta of 2.06. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. Tenet Healthcare has a 1-year low of $73.21 and a 1-year high of $171.20.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.60. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The company had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the previous year, the company earned $1.44 earnings per share. Tenet Healthcare’s quarterly revenue was up 1.1% on a year-over-year basis. Sell-side analysts expect that Tenet Healthcare will post 11.38 EPS for the current 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.