Tenet Healthcare Co. (NYSE:THC) Receives Average Rating of “Buy” from Analysts

Shares of Tenet Healthcare Co. (NYSE:THC) have earned an average rating of “Buy” from the eighteen research firms that are presently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $84.71.

A number of research analysts have recently commented on THC shares. Truist Securities upped their price objective on shares of Tenet Healthcare from $78.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, January 5th. Citigroup upped their price objective on shares of Tenet Healthcare from $88.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, October 25th. Barclays increased their target price on shares of Tenet Healthcare from $81.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 21st. Stephens increased their target price on shares of Tenet Healthcare from $77.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 9th. Finally, SVB Leerink increased their target price on shares of Tenet Healthcare from $78.00 to $88.00 and gave the stock a “market perform” rating in a research report on Friday, January 7th.

In other news, Chairman Ronald A. Rittenmeyer sold 29,974 shares of the stock in a transaction that occurred on Monday, November 15th. The stock was sold at an average price of $80.38, for a total transaction of $2,409,310.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Audrey T. Andrews sold 56,626 shares of the stock in a transaction that occurred on Friday, November 12th. The shares were sold at an average price of $78.46, for a total value of $4,442,875.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 139,564 shares of company stock valued at $10,978,279. Company insiders own 1.60% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Louisiana State Employees Retirement System lifted its stake in Tenet Healthcare by 0.7% during the fourth quarter. Louisiana State Employees Retirement System now owns 27,500 shares of the company’s stock worth $2,246,000 after purchasing an additional 200 shares during the last quarter. Diversified Trust Co lifted its stake in Tenet Healthcare by 22.5% during the fourth quarter. Diversified Trust Co now owns 7,704 shares of the company’s stock worth $629,000 after purchasing an additional 1,413 shares during the last quarter. Balyasny Asset Management LLC lifted its stake in Tenet Healthcare by 272.2% during the third quarter. Balyasny Asset Management LLC now owns 225,651 shares of the company’s stock worth $14,992,000 after purchasing an additional 165,028 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in shares of Tenet Healthcare by 37.2% during the third quarter. Schonfeld Strategic Advisors LLC now owns 84,200 shares of the company’s stock valued at $5,595,000 after acquiring an additional 22,835 shares during the period. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Tenet Healthcare by 9.8% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 23,390 shares of the company’s stock worth $1,554,000 after acquiring an additional 2,081 shares during the period. Hedge funds and other institutional investors own 93.38% of the company’s stock.

NYSE:THC opened at $81.04 on Friday. The firm has a market cap of $8.68 billion, a price-to-earnings ratio of 8.11, a price-to-earnings-growth ratio of 8.16 and a beta of 2.56. The company has a current ratio of 1.28, a quick ratio of 1.21 and a debt-to-equity ratio of 8.57. The company’s 50-day moving average is $77.30 and its two-hundred day moving average is $72.49. Tenet Healthcare has a 12-month low of $45.04 and a 12-month high of $83.69.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, October 19th. The company reported $1.99 EPS for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.90. Tenet Healthcare had a net margin of 5.52% and a return on equity of 58.52%. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.84 billion. During the same quarter in the prior year, the company posted $0.64 EPS. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, equities research analysts forecast that Tenet Healthcare will post 6.46 earnings per share for the current fiscal year.

About Tenet Healthcare

Tenet Healthcare Corp. engages in the provision of health care services. It operates through the following segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The Hospital Operations and Other segment comprises of acute care hospitals, ancillary outpatient facilities, urgent care centers, microhospitals and physician practices.

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Analyst Recommendations for Tenet Healthcare (NYSE:THC)

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