Tenet Healthcare Co. (NYSE:THC) Receives $165.44 Consensus Target Price from Brokerages

Tenet Healthcare Co. (NYSE:THC - Get Free Report) has been assigned an average rating of "Moderate Buy" from the seventeen brokerages that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $172.19.

A number of research firms have recently issued reports on THC. Truist Financial reduced their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Cantor Fitzgerald reiterated an "overweight" rating and set a $177.00 target price on shares of Tenet Healthcare in a research report on Thursday, February 13th. Guggenheim initiated coverage on Tenet Healthcare in a research note on Wednesday, April 9th. They set a "buy" rating and a $165.00 price target for the company. Morgan Stanley assumed coverage on shares of Tenet Healthcare in a research note on Wednesday, March 26th. They issued an "overweight" rating and a $165.00 price objective on the stock. Finally, StockNews.com raised shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Thursday, March 13th.

Tenet Healthcare Stock Performance

THC traded up $2.46 during trading on Tuesday, reaching $145.41. The company's stock had a trading volume of 2,170,282 shares, compared to its average volume of 1,560,423. The company has a market capitalization of $13.72 billion, a price-to-earnings ratio of 4.51, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. The company's fifty day moving average price is $126.55 and its 200-day moving average price is $136.62. Tenet Healthcare has a 52-week low of $109.82 and a 52-week high of $171.20. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $1.25. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The firm had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $5.15 billion. During the same quarter in the prior year, the business posted $3.22 earnings per share. Tenet Healthcare's revenue was down 2.5% compared to the same quarter last year. On average, equities analysts forecast that Tenet Healthcare will post 12.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director J Robert Kerrey sold 9,525 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was 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 in the company, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. boosted its position in Tenet Healthcare by 11.9% during the 3rd quarter. Franklin Resources Inc. now owns 457,704 shares of the company's stock worth $71,077,000 after purchasing an additional 48,580 shares during the period. Retirement Systems of Alabama boosted its position in shares of Tenet Healthcare by 46.6% in the third quarter. Retirement Systems of Alabama now owns 176,757 shares of the company's stock worth $29,377,000 after buying an additional 56,193 shares during the period. B. Riley Wealth Advisors Inc. grew its stake in shares of Tenet Healthcare by 101.3% in the third quarter. B. Riley Wealth Advisors Inc. now owns 7,894 shares of the company's stock valued at $1,281,000 after buying an additional 3,973 shares in the last quarter. Nordea Investment Management AB lifted its position in Tenet Healthcare by 13.5% during the 4th quarter. Nordea Investment Management AB now owns 83,793 shares of the company's stock worth $10,577,000 after acquiring an additional 9,946 shares in the last quarter. Finally, CWA Asset Management Group LLC acquired a new stake in Tenet Healthcare in the fourth quarter valued at approximately $1,758,000. 95.44% of the stock is 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.