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 brokerages that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $184.53.

Several analysts have commented on THC shares. Truist Financial lifted their price objective on shares of Tenet Healthcare from $175.00 to $190.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Wall Street Zen raised shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Sunday, June 15th. Stephens raised shares of Tenet Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. Baird R W lowered shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Finally, Bank of America lifted their price objective on shares of Tenet Healthcare from $165.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $175.77 on Friday. The firm has a 50-day moving average of $165.94 and a 200-day moving average of $142.54. The company has a market cap of $16.33 billion, a P/E ratio of 11.63, a P/E/G ratio of 1.28 and a beta of 1.64. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.78 and a quick ratio of 1.70. Tenet Healthcare has a one year low of $109.82 and a one year high of $178.76.

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

Insider Activity at Tenet Healthcare

In related news, EVP Paola M. Arbour sold 7,738 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $173.00, for a total transaction of $1,338,674.00. Following the completion of the transaction, the executive vice president owned 20,110 shares of the company's stock, valued at approximately $3,479,030. The trade was a 27.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J Robert Kerrey sold 5,001 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $148.50, for a total transaction of $742,648.50. Following the transaction, the director directly owned 22,377 shares of the company's stock, valued at approximately $3,322,984.50. This represents a 18.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,121 shares of company stock valued at $8,846,305 in the last quarter. 0.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tenet Healthcare

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its stake in Tenet Healthcare by 6.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company's stock worth $1,021,736,000 after buying an additional 463,552 shares in the last quarter. Geode Capital Management LLC grew its stake in Tenet Healthcare by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company's stock worth $268,591,000 after buying an additional 71,454 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Tenet Healthcare by 348.4% in the 1st quarter. Ameriprise Financial Inc. now owns 1,962,314 shares of the company's stock worth $263,905,000 after buying an additional 1,524,642 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Tenet Healthcare by 12.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,675,199 shares of the company's stock worth $225,297,000 after acquiring an additional 181,667 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of Tenet Healthcare in the 1st quarter worth approximately $218,549,000. Hedge funds and other institutional investors own 95.44% of the company's stock.

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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