Brokerages Set Tenet Healthcare Co. (NYSE:THC) PT at $163.65

Shares of Tenet Healthcare Co. (NYSE:THC) have received an average recommendation of “Buy” from the eighteen analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, fourteen have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $164.24.

A number of equities research analysts have commented on THC shares. Citigroup raised their price objective on Tenet Healthcare from $139.00 to $171.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Truist Financial reaffirmed a “buy” rating and set a $190.00 price objective (up from $180.00) on shares of Tenet Healthcare in a research report on Wednesday, October 30th. Wells Fargo & Company lifted their target price on shares of Tenet Healthcare from $195.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday. Barclays upped their price target on shares of Tenet Healthcare from $156.00 to $171.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, Raymond James boosted their target price on Tenet Healthcare from $130.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th.

Tenet Healthcare Price Performance

NYSE THC opened at $168.53 on Tuesday. The stock’s 50-day moving average price is $159.44 and its two-hundred day moving average price is $144.02. The company has a market cap of $16.03 billion, a PE ratio of 5.40, a PEG ratio of 0.73 and a beta of 2.15. 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 $52.08 and a 1 year high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.60. The firm had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.44 EPS. On average, analysts predict that Tenet Healthcare will post 11.38 EPS for the current year.

Tenet Healthcare announced that its board has initiated a share buyback plan on Wednesday, July 24th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to purchase up to 10.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, EVP Lisa Y. Foo sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $155.94, for a total transaction of $623,760.00. Following the completion of the sale, the executive vice president now owns 15,566 shares in the company, valued at $2,427,362.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Paola M. Arbour sold 8,377 shares of Tenet Healthcare stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $156.00, for a total transaction of $1,306,812.00. Following the sale, the executive vice president now directly owns 21,426 shares of the company’s stock, valued at $3,342,456. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lisa Y. Foo sold 4,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 112,203 shares of company stock valued at $17,451,957. 0.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of THC. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Tenet Healthcare by 0.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,604 shares of the company’s stock valued at $1,325,000 after purchasing an additional 90 shares during the period. Optas LLC grew its position in Tenet Healthcare by 3.4% in the third quarter. Optas LLC now owns 2,821 shares of the company’s stock valued at $469,000 after acquiring an additional 93 shares during the period. Signaturefd LLC raised its stake in Tenet Healthcare by 17.6% during the third quarter. Signaturefd LLC now owns 628 shares of the company’s stock worth $104,000 after acquiring an additional 94 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Tenet Healthcare by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 2,887 shares of the company’s stock valued at $480,000 after purchasing an additional 94 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Tenet Healthcare by 20.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 560 shares of the company’s stock worth $74,000 after purchasing an additional 96 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

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.