Analysts Set Tenet Healthcare Co. (NYSE:THC) Target Price at $152.69

Shares of Tenet Healthcare Co. (NYSE:THC) have earned an average recommendation of “Buy” from the seventeen research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, fourteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $152.69.

A number of analysts recently issued reports on the company. StockNews.com upgraded Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 7th. Raymond James increased their price objective on shares of Tenet Healthcare from $130.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their target price on Tenet Healthcare from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $168.00 price target on shares of Tenet Healthcare in a report on Monday, August 19th. Finally, Baird R W raised Tenet Healthcare to a “strong-buy” rating in a research report on Thursday, May 30th.

Tenet Healthcare Price Performance

Tenet Healthcare stock opened at $165.16 on Monday. Tenet Healthcare has a 52-week low of $51.04 and a 52-week high of $167.29. The company has a market cap of $16.13 billion, a price-to-earnings ratio of 6.41, a PEG ratio of 0.80 and a beta of 2.14. The firm’s fifty day moving average is $153.09 and its 200 day moving average is $130.71. The company has a quick ratio of 1.38, a current ratio of 1.45 and a debt-to-equity ratio of 2.53.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Wednesday, July 24th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $1.89 by $0.42. Tenet Healthcare had a return on equity of 24.66% and a net margin of 13.17%. The company had revenue of $5.10 billion during the quarter, compared to analyst estimates of $4.98 billion. Sell-side analysts forecast that Tenet Healthcare will post 10.7 EPS for the current fiscal year.

Tenet Healthcare declared that its board has approved a stock buyback program on Wednesday, July 24th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to repurchase up to 10.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other Tenet Healthcare news, Director Richard W. Fisher sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $163.67, for a total value of $327,340.00. Following the completion of the transaction, the director now directly owns 14,227 shares in the company, valued at $2,328,533.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Saumya Sutaria sold 86,227 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $154.41, for a total transaction of $13,314,311.07. Following the completion of the sale, the chief executive officer now owns 13,773 shares in the company, valued at approximately $2,126,688.93. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard W. Fisher sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total value of $327,340.00. Following the transaction, the director now owns 14,227 shares in the company, valued at $2,328,533.09. The disclosure for this sale can be found here. Insiders sold 128,203 shares of company stock worth $19,754,997 in the last three months. 0.93% of the stock is owned by insiders.

Institutional Investors Weigh In On Tenet Healthcare

Institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in Tenet Healthcare by 0.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,604 shares of the company’s stock worth $1,325,000 after purchasing an additional 90 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Tenet Healthcare by 20.7% during the second quarter. EverSource Wealth Advisors LLC now owns 560 shares of the company’s stock worth $74,000 after buying an additional 96 shares during the period. Violich Capital Management Inc. increased its position in shares of Tenet Healthcare by 3.2% in the 1st quarter. Violich Capital Management Inc. now owns 3,380 shares of the company’s stock valued at $355,000 after acquiring an additional 105 shares during the period. GAMMA Investing LLC raised its stake in Tenet Healthcare by 17.0% in the 1st quarter. GAMMA Investing LLC now owns 731 shares of the company’s stock worth $77,000 after acquiring an additional 106 shares during the last quarter. Finally, SummerHaven Investment Management LLC lifted its position in Tenet Healthcare by 1.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 8,915 shares of the company’s stock worth $1,186,000 after acquiring an additional 115 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

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.