Tenet Healthcare Corporation (NYSE:THC) Receives $191.56 Average Price Target from Analysts

Key Points

• Analysts have given Tenet Healthcare Corporation (NYSE:THC) an average recommendation of "Moderate Buy," with 14 buy recommendations and a 12-month price target averaging $191.56.
• The company reported a substantial increase in quarterly earnings, with $4.02 EPS for the quarter, surpassing expectations by $1.18 and achieving a revenue of $5.27 billion.
• Insider transactions show significant sales, with directors selling thousands of shares, indicating a 6.89% decrease in Richard W. Fisher's position and an 11.57% decrease in James L. Bierman's ownership.

Tenet Healthcare Corporation (NYSE:THC - Get Free Report) has received an average rating of "Moderate Buy" from the nineteen analysts that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $191.5625.

Several equities research analysts have recently weighed in on the stock. Guggenheim boosted their target price on shares of Tenet Healthcare from $180.00 to $188.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Morgan Stanley lifted their price target on Tenet Healthcare from $175.00 to $210.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. Bank of America upped their price target on shares of Tenet Healthcare from $165.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Raymond James Financial reissued an "outperform" rating and set a $200.00 target price (up previously from $185.00) on shares of Tenet Healthcare in a research report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, EVP Thomas W. Arnst sold 9,786 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $166.00, for a total transaction of $1,624,476.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard W. Fisher sold 3,077 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $165.72, for a total value of $509,920.44. Following the completion of the sale, the director directly owned 12,128 shares in the company, valued at approximately $2,009,852.16. The trade was a 20.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,120 shares of company stock worth $8,103,656 over the last ninety days. 0.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tenet Healthcare

Institutional investors have recently added to or reduced their stakes in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Tenet Healthcare in the 1st quarter valued at approximately $26,000. Wayfinding Financial LLC acquired a new position in shares of Tenet Healthcare in the first quarter worth $28,000. SVB Wealth LLC acquired a new position in shares of Tenet Healthcare in the first quarter valued at approximately $30,000. Colonial Trust Co SC grew its position in shares of Tenet Healthcare by 85.7% in the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company's stock valued at $31,000 after purchasing an additional 114 shares during the period. Finally, N.E.W. Advisory Services LLC acquired a new position in Tenet Healthcare during the first quarter worth approximately $31,000. Institutional investors and hedge funds own 95.44% of the company's stock.

Tenet Healthcare Trading Up 1.4%

Shares of Tenet Healthcare stock traded up $2.28 on Thursday, reaching $165.70. The company had a trading volume of 734,141 shares, compared to its average volume of 1,577,476. The firm's 50 day moving average price is $167.28 and its two-hundred day moving average price is $147.04. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.63 and a current ratio of 1.71. Tenet Healthcare has a 52-week low of $109.82 and a 52-week high of $185.25. The firm has a market cap of $14.64 billion, a PE ratio of 10.61, a PEG ratio of 0.68 and a beta of 1.52.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share for the quarter, beating the consensus estimate of $2.84 by $1.18. The company had revenue of $5.27 billion for the quarter, compared to the consensus estimate of $5.16 billion. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%. The company's revenue was up 3.2% on a year-over-year basis. During the same period last year, the business posted $2.31 EPS. Sell-side analysts predict that Tenet Healthcare will post 12.24 earnings per share 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.