Brokerages Set Tenet Healthcare Co. (NYSE:THC) PT at $174.94

Tenet Healthcare Co. (NYSE:THC - Get Free Report) has received a consensus rating of "Moderate Buy" from the eighteen brokerages that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $177.59.

THC has been the topic of several analyst reports. Barclays lifted their price target on shares of Tenet Healthcare from $161.00 to $171.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Royal Bank of Canada lifted their price target on shares of Tenet Healthcare from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Truist Financial boosted their target price on shares of Tenet Healthcare from $175.00 to $190.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Wells Fargo & Company raised shares of Tenet Healthcare from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $150.00 to $195.00 in a research note on Thursday. Finally, Wall Street Zen lowered shares of Tenet Healthcare from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd.

Insider Activity at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the sale, the director now owns 27,378 shares of the company's stock, valued at $3,434,022.54. This trade represents a 25.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director James L. Bierman sold 13,836 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $159.58, for a total transaction of $2,207,948.88. Following the sale, the director now owns 41,435 shares of the company's stock, valued at $6,612,197.30. This trade represents a 25.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,459 shares of company stock worth $7,773,380 over the last ninety days. Insiders own 0.81% of the company's stock.

Hedge Funds Weigh In On Tenet Healthcare

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Tenet Healthcare in the 1st quarter valued at about $26,000. Wayfinding Financial LLC bought a new position in shares of Tenet Healthcare in the first quarter worth approximately $28,000. SVB Wealth LLC bought a new position in Tenet Healthcare during the first quarter valued at approximately $30,000. Colonial Trust Co SC grew its position in Tenet Healthcare by 85.7% during the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company's stock valued at $31,000 after acquiring an additional 114 shares during the last quarter. Finally, N.E.W. Advisory Services LLC bought a new position in Tenet Healthcare during the first quarter valued at approximately $31,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

Tenet Healthcare Price Performance

Shares of THC traded up $1.75 during mid-day trading on Friday, reaching $166.42. 1,426,654 shares of the company's stock were exchanged, compared to its average volume of 1,520,947. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The company has a 50-day simple moving average of $139.95 and a two-hundred day simple moving average of $136.59. Tenet Healthcare has a 52-week low of $109.82 and a 52-week high of $171.20. The company has a market cap of $15.46 billion, a price-to-earnings ratio of 5.16, a PEG ratio of 1.02 and a beta of 1.63.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.11 by $1.25. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. Tenet Healthcare's revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the business earned $3.22 earnings per share. On average, sell-side analysts predict that Tenet Healthcare will post 12.24 EPS for the current fiscal year.

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.