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

Tenet Healthcare Co. (NYSE:THC) has received a consensus rating of “Moderate Buy” from the eighteen analysts that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $163.88.

A number of equities research analysts have recently issued reports on THC shares. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $175.00 price target on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Truist Financial lowered their price target on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Barclays decreased their target price on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. The Goldman Sachs Group lowered shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their price target for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. Finally, Raymond James cut shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price objective for the company. in a report on Friday, November 22nd.

Insider Activity

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the sale, the director now owns 27,378 shares of the company’s stock, valued at approximately $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Tenet Healthcare

A number of large investors have recently made changes to their positions in THC. Plato Investment Management Ltd acquired a new position in Tenet Healthcare during the third quarter worth $28,000. Colonial Trust Co SC raised its stake in shares of Tenet Healthcare by 85.7% during the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company’s stock worth $31,000 after buying an additional 114 shares during the last quarter. GeoWealth Management LLC boosted its position in shares of Tenet Healthcare by 39.8% in the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock worth $37,000 after buying an additional 84 shares in the last quarter. True Wealth Design LLC acquired a new stake in Tenet Healthcare in the 3rd quarter valued at about $38,000. Finally, WR Wealth Planners LLC raised its position in Tenet Healthcare by 2,836.4% during the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock worth $41,000 after acquiring an additional 312 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Trading Down 4.2 %

Shares of THC stock opened at $121.11 on Monday. Tenet Healthcare has a twelve month low of $90.03 and a twelve month high of $171.20. The stock has a market cap of $11.52 billion, a price-to-earnings ratio of 3.76, a PEG ratio of 1.02 and a beta of 2.06. The company’s 50-day moving average price is $132.57 and its 200-day moving average price is $145.21. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25.

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

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.