Tenet Healthcare Co. (NYSE:THC) Receives $100.38 Average PT from Brokerages

Tenet Healthcare Co. (NYSE:THC - Get Free Report) has been given an average rating of "Buy" by the sixteen ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $100.38.

A number of research firms recently issued reports on THC. Wells Fargo & Company increased their price target on shares of Tenet Healthcare from $105.00 to $115.00 and gave the stock an "overweight" rating in a research note on Thursday, March 28th. Cantor Fitzgerald reissued an "overweight" rating and issued a $104.00 price target on shares of Tenet Healthcare in a research note on Wednesday, April 10th. TheStreet raised shares of Tenet Healthcare from a "c+" rating to a "b-" rating in a research note on Tuesday, February 6th. Mizuho upped their price objective on shares of Tenet Healthcare from $90.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, February 9th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Tenet Healthcare from $100.00 to $126.00 and gave the stock a "buy" rating in a report on Friday, April 12th.

Insider Buying and Selling

In other news, Director Richard J. Mark sold 14,000 shares of the company's stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following 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 SEC, which is available at this link. In related news, EVP Paola M. Arbour sold 18,168 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total value of $1,761,569.28. Following the transaction, the executive vice president now owns 29,803 shares of the company's stock, valued at $2,889,698.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard J. Mark sold 14,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $98.98, for a total value of $1,385,720.00. Following the completion of the transaction, the director now directly owns 33,303 shares in the company, valued at approximately $3,296,330.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,268 shares of company stock worth $4,944,810. Corporate insiders own 1.30% of the company's stock.

Institutional Trading of Tenet Healthcare

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rise Advisors LLC purchased a new stake in shares of Tenet Healthcare during the 1st quarter valued at $29,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Tenet Healthcare by 46.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 629 shares of the company's stock valued at $31,000 after purchasing an additional 199 shares during the last quarter. Belpointe Asset Management LLC lifted its holdings in shares of Tenet Healthcare by 94.1% during the 1st quarter. Belpointe Asset Management LLC now owns 588 shares of the company's stock valued at $35,000 after purchasing an additional 285 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Tenet Healthcare by 1,063.9% during the 1st quarter. Parkside Financial Bank & Trust now owns 419 shares of the company's stock valued at $36,000 after purchasing an additional 383 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in shares of Tenet Healthcare during the 1st quarter valued at $36,000. Institutional investors own 95.44% of the company's stock.

Tenet Healthcare Trading Up 2.4 %

NYSE THC traded up $2.15 during trading on Friday, hitting $93.23. 1,127,370 shares of the company's stock traded hands, compared to its average volume of 1,133,102. The stock has a fifty day moving average of $97.47 and a two-hundred day moving average of $79.19. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.51 and a quick ratio of 1.42. Tenet Healthcare has a 12-month low of $51.04 and a 12-month high of $107.80. The firm has a market cap of $9.25 billion, a P/E ratio of 16.33, a PEG ratio of 3.08 and a beta of 2.08.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings data on Thursday, February 8th. The company reported $2.68 EPS for the quarter, beating the consensus estimate of $1.58 by $1.10. The firm had revenue of $5.38 billion during the quarter, compared to the consensus estimate of $5.28 billion. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The company's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.96 earnings per share. As a group, sell-side analysts expect that Tenet Healthcare will post 6.3 EPS for the current 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.