Tenet Healthcare Co. (NYSE:THC) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Tenet Healthcare Co. (NYSE:THC) have been given an average recommendation of “Moderate Buy” by the seventeen research firms that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $165.00.

A number of analysts have recently commented on the company. Truist Financial dropped their price target on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. KeyCorp cut their target price on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Cantor Fitzgerald upped their price target on shares of Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. UBS Group raised their price objective on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group cut shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their price target for the company from $196.00 to $140.00 in a report on Monday, December 16th.

Insider Buying and Selling at Tenet Healthcare

In other news, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total transaction of $623,760.00. Following the transaction, the executive vice president now owns 15,566 shares in the company, valued at $2,427,362.04. This trade represents a 20.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Tenet Healthcare

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Plato Investment Management Ltd purchased a new position in shares of Tenet Healthcare during the 3rd quarter valued at about $28,000. ORG Wealth Partners LLC purchased a new position in Tenet Healthcare during the third quarter valued at approximately $30,000. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Tenet Healthcare in the second quarter worth approximately $34,000. Financial Management Professionals Inc. lifted its stake in shares of Tenet Healthcare by 2,222.2% during the 3rd quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock valued at $35,000 after buying an additional 200 shares in the last quarter. Finally, True Wealth Design LLC purchased a new stake in Tenet Healthcare in the 3rd quarter worth $38,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Stock Down 2.0 %

Shares of NYSE:THC opened at $135.50 on Friday. The firm has a market capitalization of $12.89 billion, a P/E ratio of 4.34, a P/E/G ratio of 0.60 and a beta of 2.06. The stock has a 50 day moving average price of $134.94 and a 200-day moving average price of $148.10. Tenet Healthcare has a 52-week low of $80.53 and a 52-week high of $171.20. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.60. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The firm had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the previous year, the business posted $1.44 EPS. The company’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, equities research analysts anticipate that Tenet Healthcare will post 11.37 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.