Tenet Healthcare Corporation (NYSE:THC) Receives Average Rating of "Moderate Buy" from Brokerages

Tenet Healthcare Corporation (NYSE:THC - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the nineteen ratings firms that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $182.24.

A number of analysts have recently issued reports on THC shares. UBS Group lifted their target price on Tenet Healthcare from $217.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Wall Street Zen raised Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Sunday. Baird R W lowered Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Royal Bank Of Canada boosted their price objective on Tenet Healthcare from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Finally, Barclays upped their target price on Tenet Healthcare from $171.00 to $215.00 and gave the stock an "overweight" rating in a research report on Monday, June 2nd.

Tenet Healthcare Price Performance

Shares of NYSE:THC opened at $167.13 on Wednesday. Tenet Healthcare has a 52 week low of $109.82 and a 52 week high of $174.14. The company has a market cap of $15.52 billion, a P/E ratio of 11.05, a P/E/G ratio of 1.20 and a beta of 1.65. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.23. The business has a fifty day simple moving average of $149.70 and a 200-day simple moving average of $137.94.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, beating analysts' consensus estimates of $3.11 by $1.25. The firm had revenue of $5.22 billion for the quarter, compared to analysts' expectations of $5.15 billion. Tenet Healthcare had a return on equity of 22.58% and a net margin of 7.09%. The firm's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $3.22 earnings per share. Equities research analysts forecast that Tenet Healthcare will post 12.24 EPS for the current year.

Insider Buying and Selling at Tenet Healthcare

In related news, EVP Paola M. Arbour sold 6,461 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $160.20, for a total value of $1,035,052.20. Following the completion of the sale, the executive vice president now directly owns 27,848 shares in the company, valued at approximately $4,461,249.60. This represents a 18.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director J Robert Kerrey sold 5,001 shares of the company's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $148.50, for a total transaction of $742,648.50. Following the completion of the sale, the director now owns 22,377 shares of the company's stock, valued at $3,322,984.50. This represents a 18.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,121 shares of company stock valued at $8,846,305 in the last three months. 0.81% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tenet Healthcare

Large investors have recently bought and sold shares of the business. Strs Ohio bought a new stake in Tenet Healthcare during the first quarter valued at about $1,550,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Tenet Healthcare by 4.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 276,969 shares of the company's stock valued at $37,252,000 after buying an additional 12,914 shares during the period. Empowered Funds LLC lifted its stake in Tenet Healthcare by 19.6% during the first quarter. Empowered Funds LLC now owns 154,754 shares of the company's stock worth $20,814,000 after purchasing an additional 25,323 shares during the period. United Services Automobile Association bought a new position in Tenet Healthcare during the first quarter worth about $821,000. Finally, Fred Alger Management LLC bought a new position in Tenet Healthcare during the first quarter worth about $2,652,000. 95.44% of the stock is currently owned by institutional investors.

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.

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