Tenet Healthcare Co. (NYSE:THC) Receives $165.00 Average PT from Analysts

Shares of Tenet Healthcare Co. (NYSE:THC) have been assigned an average rating of “Moderate Buy” from the seventeen research firms that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $165.00.

Several research analysts have issued reports on the stock. KeyCorp decreased their target price 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. Cantor Fitzgerald upped their price objective on Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. StockNews.com cut Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 17th. Raymond James downgraded 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. Finally, Barclays upped their target price on shares of Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, November 8th.

Tenet Healthcare Trading Up 3.1 %

NYSE:THC opened at $138.58 on Friday. Tenet Healthcare has a one year low of $79.00 and a one year high of $171.20. The company’s 50-day simple moving average is $135.34 and its 200 day simple moving average is $147.94. The firm has a market capitalization of $13.18 billion, a P/E ratio of 4.44, a PEG ratio of 0.60 and a beta of 2.06. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52.

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

Insiders Place Their Bets

In other news, EVP Lisa Y. Foo sold 4,000 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $155.94, for a total value of $623,760.00. Following the transaction, the executive vice president now directly owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. This represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Tenet Healthcare

Hedge funds and other institutional investors have recently bought and sold shares of the business. New Wave Wealth Advisors LLC purchased a new position in shares of Tenet Healthcare during the fourth quarter worth $343,000. Swedbank AB lifted its holdings in shares of Tenet Healthcare by 100.0% in the 4th quarter. Swedbank AB now owns 40,000 shares of the company’s stock valued at $5,049,000 after buying an additional 20,000 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of Tenet Healthcare by 12.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 24,274 shares of the company’s stock worth $3,064,000 after buying an additional 2,618 shares during the last quarter. KBC Group NV raised its position in Tenet Healthcare by 23.0% during the fourth quarter. KBC Group NV now owns 7,010 shares of the company’s stock valued at $885,000 after acquiring an additional 1,312 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in Tenet Healthcare by 172.3% in the 4th quarter. Blue Trust Inc. now owns 689 shares of the company’s stock worth $87,000 after purchasing an additional 436 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

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.