Tenet Healthcare (NYSE:THC) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Tenet Healthcare (NYSE:THC - Get Free Report) had its target price increased by stock analysts at The Goldman Sachs Group from $134.00 to $154.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. The Goldman Sachs Group's target price would suggest a potential upside of 2.83% from the stock's current price.

Other research analysts have also recently issued research reports about the company. StockNews.com raised Tenet Healthcare from a "hold" rating to a "buy" rating in a research note on Thursday. Truist Financial reduced their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Morgan Stanley upped their price objective on shares of Tenet Healthcare from $165.00 to $175.00 and gave the company an "overweight" rating in a research note on Monday. UBS Group boosted their price target on shares of Tenet Healthcare from $217.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Finally, KeyCorp decreased their price objective on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $173.69.

Tenet Healthcare Price Performance

NYSE:THC traded up $1.73 during trading hours on Monday, hitting $149.76. The stock had a trading volume of 196,137 shares, compared to its average volume of 1,542,493. The firm has a market capitalization of $13.91 billion, a price-to-earnings ratio of 4.65, a P/E/G ratio of 1.02 and a beta of 1.63. Tenet Healthcare has a one year low of $109.82 and a one year high of $171.20. The company has a 50 day simple moving average of $127.09 and a two-hundred day simple moving average of $136.10. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70.

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

Insider Buying and Selling at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the firm's stock in a transaction on 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 transaction, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.81% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of 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 purchasing an additional 71,454 shares in the last quarter. Norges Bank bought a new position in Tenet Healthcare during the 4th quarter valued at about $190,819,000. Dimensional Fund Advisors LP raised its holdings in shares of Tenet Healthcare by 22.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company's stock valued at $188,524,000 after purchasing an additional 272,906 shares during the last quarter. AQR Capital Management LLC raised its stake in Tenet Healthcare by 20.8% during the 4th quarter. AQR Capital Management LLC now owns 872,117 shares of the company's stock valued at $110,087,000 after buying an additional 150,361 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Tenet Healthcare by 22.0% in the fourth quarter. Northern Trust Corp now owns 848,049 shares of the company's stock worth $107,049,000 after acquiring an additional 152,671 shares during the period. 95.44% of the stock is owned by hedge funds and other 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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