Tenet Healthcare Co. (NYSE:THC) Receives $168.19 Consensus Price Target from Brokerages

Tenet Healthcare Co. (NYSE:THC) has earned a consensus rating of “Buy” from the seventeen ratings firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $168.19.

Several equities research analysts have recently commented on THC shares. Wells Fargo & Company downgraded Tenet Healthcare from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $205.00 to $150.00 in a report on Monday, November 25th. The Goldman Sachs Group upped their price target on Tenet Healthcare from $173.00 to $196.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada raised their price objective on Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Barclays increased their target price on shares of Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Truist Financial reaffirmed a “buy” rating and set a $190.00 price target (up from $180.00) on shares of Tenet Healthcare in a research report on Wednesday, October 30th.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare 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 completion of the sale, the executive vice president now directly owns 15,566 shares of the company’s stock, valued at $2,427,362.04. The trade was a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider R. Scott Ramsey sold 11,599 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the completion of the sale, the insider now directly owns 6,324 shares in the company, valued at approximately $1,024,867.44. This trade represents a 64.72 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

Several institutional investors and hedge funds have recently modified their holdings of the stock. Innealta Capital LLC bought a new stake in shares of Tenet Healthcare in the second quarter worth approximately $28,000. Plato Investment Management Ltd bought a new stake in Tenet Healthcare in the 3rd quarter valued at $28,000. ORG Wealth Partners LLC purchased a new stake in Tenet Healthcare in the 3rd quarter worth $30,000. ORG Partners LLC purchased a new position in shares of Tenet Healthcare during the second quarter valued at about $31,000. Finally, Blue Trust Inc. increased its holdings in shares of Tenet Healthcare by 93.0% in the second quarter. Blue Trust Inc. now owns 249 shares of the company’s stock worth $33,000 after purchasing an additional 120 shares during the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Tenet Healthcare Stock Performance

THC stock opened at $141.95 on Friday. Tenet Healthcare has a fifty-two week low of $67.78 and a fifty-two week high of $171.20. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. The company has a market capitalization of $13.50 billion, a P/E ratio of 4.55, a PEG ratio of 0.64 and a beta of 2.15. The company has a 50-day simple moving average of $156.87 and a 200 day simple moving average of $148.73.

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