Brokerages Set Tenet Healthcare Co. (NYSE:THC) PT at $100.38

Tenet Healthcare Co. (NYSE:THC) has received an average rating of “Buy” from the sixteen brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $100.38.

THC has been the subject of several research analyst reports. Barclays assumed coverage on Tenet Healthcare in a report on Wednesday, March 6th. They set an “overweight” rating and a $113.00 price target for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Tenet Healthcare from $100.00 to $126.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Mizuho upped their target price on shares of Tenet Healthcare from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, February 9th. TheStreet raised Tenet Healthcare from a “c+” rating to a “b-” rating in a research note on Tuesday, February 6th. Finally, Royal Bank of Canada raised their price objective on Tenet Healthcare from $97.00 to $109.00 and gave the company an “outperform” rating in a research note on Friday, February 9th.

Insider Buying and Selling at Tenet Healthcare

In other news, EVP Paola M. Arbour sold 18,168 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total transaction of $1,761,569.28. Following the completion of the sale, the executive vice president now owns 29,803 shares of the company’s stock, valued at $2,889,698.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Paola M. Arbour sold 18,168 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total transaction of $1,761,569.28. Following the transaction, the executive vice president now owns 29,803 shares of the company’s stock, valued at approximately $2,889,698.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard W. Fisher sold 2,100 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the completion of the sale, the director now directly owns 20,127 shares of the company’s stock, valued at $1,775,402.67. The disclosure for this sale can be found here. Insiders sold a total of 51,268 shares of company stock valued at $4,944,810 in the last three months. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Tenet Healthcare

A number of large investors have recently bought and sold shares of THC. Rise Advisors LLC purchased a new position in shares of Tenet Healthcare in the 1st quarter valued at $29,000. Parkside Financial Bank & Trust raised its holdings in Tenet Healthcare by 1,063.9% in the first quarter. Parkside Financial Bank & Trust now owns 419 shares of the company’s stock worth $36,000 after purchasing an additional 383 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Tenet Healthcare during the first quarter valued at about $36,000. Belpointe Asset Management LLC grew its position in shares of Tenet Healthcare by 94.1% in the 1st quarter. Belpointe Asset Management LLC now owns 588 shares of the company’s stock worth $35,000 after buying an additional 285 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new stake in Tenet Healthcare during the fourth quarter valued at approximately $52,000. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

NYSE:THC opened at $93.19 on Friday. The stock has a 50-day moving average price of $97.47 and a 200 day moving average price of $79.43. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 4.77. Tenet Healthcare has a 12-month low of $51.04 and a 12-month high of $107.80. The stock has a market capitalization of $9.24 billion, a P/E ratio of 16.32, a P/E/G ratio of 2.99 and a beta of 2.08.

Tenet Healthcare (NYSE:THC) last released its earnings results on Thursday, February 8th. The company reported $2.68 EPS for the quarter, topping the consensus estimate of $1.58 by $1.10. The firm had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.28 billion. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.96 earnings per share. Equities research analysts forecast that Tenet Healthcare will post 6.3 EPS 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.