Tenet Healthcare Corporation (NYSE:THC) Given Average Rating of “Moderate Buy” by Analysts

Tenet Healthcare Corporation (NYSE:THC) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-one analysts that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $209.25.

THC has been the subject of a number of analyst reports. The Goldman Sachs Group initiated coverage on shares of Tenet Healthcare in a research note on Tuesday, October 14th. They set a “buy” rating and a $224.00 price target for the company. Truist Financial set a $225.00 price target on shares of Tenet Healthcare in a research note on Tuesday, October 14th. JPMorgan Chase & Co. raised their price target on shares of Tenet Healthcare from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. Robert W. Baird cut their target price on shares of Tenet Healthcare from $195.00 to $167.00 and set a “neutral” rating for the company in a research note on Friday, July 25th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $190.00 target price on shares of Tenet Healthcare in a research note on Tuesday, October 7th.

Tenet Healthcare Stock Up 3.1%

Shares of THC opened at $216.94 on Tuesday. The stock has a market cap of $19.17 billion, a price-to-earnings ratio of 13.89, a P/E/G ratio of 0.90 and a beta of 1.52. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.39. Tenet Healthcare has a 12 month low of $109.82 and a 12 month high of $217.43. The company has a 50-day moving average price of $193.60 and a two-hundred day moving average price of $170.77.

Insider Activity

In other news, CEO Saumya Sutaria sold 78,762 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $190.78, for a total value of $15,026,214.36. Following the completion of the transaction, the chief executive officer owned 368,683 shares in the company, valued at approximately $70,337,342.74. The trade was a 17.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christopher S. Lynch sold 3,952 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $176.39, for a total transaction of $697,093.28. Following the completion of the transaction, the director owned 12,358 shares of the company’s stock, valued at $2,179,827.62. This trade represents a 24.23% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,722 shares of company stock worth $17,161,015. Insiders own 0.81% of the company’s stock.

Institutional Trading of Tenet Healthcare

Hedge funds and other institutional investors have recently modified their holdings of the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Tenet Healthcare in the first quarter valued at approximately $26,000. Chung Wu Investment Group LLC acquired a new stake in shares of Tenet Healthcare in the second quarter valued at approximately $35,000. Trust Co. of Vermont acquired a new stake in shares of Tenet Healthcare in the third quarter valued at approximately $41,000. Canada Pension Plan Investment Board acquired a new stake in shares of Tenet Healthcare in the second quarter valued at approximately $35,000. Finally, Wayfinding Financial LLC acquired a new stake in Tenet Healthcare during the 1st quarter worth $28,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

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.