Brokerages Set Tenet Healthcare Corp (NYSE:THC) PT at $34.25

Tenet Healthcare Corp (NYSE:THC) has been given a consensus rating of “Hold” by the fifteen brokerages that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $34.25.

A number of research firms have issued reports on THC. Mizuho reaffirmed a “buy” rating on shares of Tenet Healthcare in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their price target on shares of Tenet Healthcare from $23.00 to $31.00 and gave the stock an “underweight” rating in a report on Friday, December 20th. UBS Group raised shares of Tenet Healthcare from a “neutral” rating to a “buy” rating and raised their price target for the stock from $24.00 to $53.00 in a report on Monday, December 9th. Credit Suisse Group raised shares of Tenet Healthcare from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $25.00 to $36.00 in a report on Wednesday, November 6th. Finally, Zacks Investment Research cut shares of Tenet Healthcare from a “buy” rating to a “hold” rating and set a $37.00 target price for the company. in a report on Monday, December 9th.

Shares of NYSE THC traded up $1.65 during midday trading on Friday, reaching $34.20. The company had a trading volume of 1,388,341 shares, compared to its average volume of 847,008. The business’s 50-day simple moving average is $34.86 and its 200 day simple moving average is $29.08. The stock has a market cap of $3.55 billion, a P/E ratio of -14.81, a P/E/G ratio of 0.62 and a beta of 1.81. Tenet Healthcare has a 1 year low of $17.18 and a 1 year high of $39.37. The company has a current ratio of 1.22, a quick ratio of 1.14 and a debt-to-equity ratio of 30.38.

Institutional investors have recently modified their holdings of the stock. Quadrant Capital Group LLC raised its holdings in shares of Tenet Healthcare by 152.6% during the third quarter. Quadrant Capital Group LLC now owns 1,546 shares of the company’s stock worth $33,000 after purchasing an additional 934 shares during the last quarter. LS Investment Advisors LLC grew its position in Tenet Healthcare by 52.7% during the third quarter. LS Investment Advisors LLC now owns 2,552 shares of the company’s stock valued at $56,000 after buying an additional 881 shares during the period. Financial Architects Inc grew its position in Tenet Healthcare by 41.6% during the third quarter. Financial Architects Inc now owns 2,775 shares of the company’s stock valued at $61,000 after buying an additional 815 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new stake in Tenet Healthcare during the fourth quarter valued at $111,000. Finally, Cerebellum GP LLC acquired a new stake in Tenet Healthcare during the fourth quarter valued at $149,000.

About Tenet Healthcare

Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

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Analyst Recommendations for Tenet Healthcare (NYSE:THC)

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