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

Shares of Tenet Healthcare Co. (NYSE:THC) have been given a consensus rating of “Buy” by the sixteen research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $100.38.

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Tenet Healthcare from $100.00 to $126.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Cantor Fitzgerald restated an “overweight” rating and set a $104.00 target price on shares of Tenet Healthcare in a research report on Wednesday, April 10th. Wells Fargo & Company increased their target price on shares of Tenet Healthcare from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Barclays assumed coverage on shares of Tenet Healthcare in a research report on Wednesday, March 6th. They set an “overweight” rating and a $113.00 target price on the stock. Finally, TheStreet upgraded shares of Tenet Healthcare from a “c+” rating to a “b-” rating in a research report on Tuesday, February 6th.

Tenet Healthcare Stock Down 0.8 %

Shares of THC opened at $97.50 on Friday. Tenet Healthcare has a 52 week low of $51.04 and a 52 week high of $107.80. The firm has a market cap of $9.67 billion, a P/E ratio of 17.08, a price-to-earnings-growth ratio of 3.15 and a beta of 2.08. The firm’s 50-day simple moving average is $98.11 and its 200 day simple moving average is $80.17. The company has a debt-to-equity ratio of 4.77, a quick ratio of 1.42 and a current ratio of 1.51.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Thursday, February 8th. The company reported $2.68 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $1.10. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The business had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the prior year, the business earned $1.96 EPS. Tenet Healthcare’s quarterly revenue was up 7.8% on a year-over-year basis. On average, analysts forecast that Tenet Healthcare will post 6.3 earnings per share for the current year.

Insider Activity

In other news, Director Richard J. Mark sold 14,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the completion of the transaction, the director now owns 33,303 shares of the company’s stock, valued at $3,296,330.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Richard J. Mark sold 14,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the completion of the transaction, the director now owns 33,303 shares of the company’s stock, valued at $3,296,330.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paola M. Arbour sold 18,168 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total transaction of $1,761,569.28. Following the sale, the executive vice president now owns 29,803 shares of the company’s stock, valued at $2,889,698.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,268 shares of company stock valued at $4,944,810. Insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

A number of large investors have recently bought and sold shares of THC. National Bank of Canada FI grew its holdings in Tenet Healthcare by 717.0% in the third quarter. National Bank of Canada FI now owns 18,440 shares of the company’s stock worth $1,220,000 after purchasing an additional 16,183 shares during the period. CWM LLC grew its holdings in Tenet Healthcare by 49.8% in the third quarter. CWM LLC now owns 1,443 shares of the company’s stock worth $95,000 after purchasing an additional 480 shares during the period. Ritholtz Wealth Management grew its holdings in Tenet Healthcare by 42.2% in the third quarter. Ritholtz Wealth Management now owns 10,209 shares of the company’s stock worth $673,000 after purchasing an additional 3,029 shares during the period. Congress Park Capital LLC grew its holdings in Tenet Healthcare by 17.9% in the third quarter. Congress Park Capital LLC now owns 18,701 shares of the company’s stock worth $1,232,000 after purchasing an additional 2,833 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Tenet Healthcare in the third quarter worth $152,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

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.