Tenet Healthcare Co. (NYSE:THC) Receives $166.41 Consensus Price Target from Brokerages

Shares of Tenet Healthcare Co. (NYSE:THC) have been assigned a consensus rating of “Moderate Buy” from the eighteen brokerages that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $166.41.

A number of research analysts recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $177.00 price objective on shares of Tenet Healthcare in a research note on Thursday, February 13th. TD Cowen assumed coverage on shares of Tenet Healthcare in a report on Wednesday, February 26th. They set a “buy” rating and a $175.00 price objective for the company. Barclays dropped their target price on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. KeyCorp decreased their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, Truist Financial cut their price objective 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.

Insider Activity

In related news, Director J Robert Kerrey sold 9,525 shares of the business’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 sale, the director now owns 27,378 shares of the company’s stock, valued at $3,434,022.54. The trade was a 25.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

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

Tenet Healthcare Price Performance

Shares of THC opened at $119.31 on Friday. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The firm has a market cap of $11.35 billion, a PE ratio of 3.70, a PEG ratio of 1.02 and a beta of 1.77. Tenet Healthcare has a twelve month low of $90.03 and a twelve month high of $171.20. The firm’s 50 day moving average price is $130.94 and its 200 day moving average price is $140.49.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating 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, research analysts expect that Tenet Healthcare will post 12.24 EPS for the current fiscal 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.