Brokerages Set Tenet Healthcare Co. (NYSE:THC) PT at $165.00

Tenet Healthcare Co. (NYSE:THC) has received an average rating of “Moderate Buy” from the seventeen research firms that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $165.00.

THC has been the topic of several recent research reports. Wells Fargo & Company cut Tenet Healthcare from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $205.00 to $150.00 in a report on Monday, November 25th. StockNews.com downgraded Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 17th. Cantor Fitzgerald increased their price objective on shares of Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada boosted their target price on Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Barclays lifted their price objective on Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, November 8th.

Insiders Place Their Bets

In other news, EVP Lisa Y. Foo sold 4,000 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the completion of the transaction, the executive vice president now owns 15,566 shares in the company, valued at approximately $2,427,362.04. This represents a 20.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tenet Healthcare

Hedge funds have recently made changes to their positions in the company. New Wave Wealth Advisors LLC purchased a new position in Tenet Healthcare during the 4th quarter worth approximately $343,000. Swedbank AB increased its stake in Tenet Healthcare by 100.0% in the fourth quarter. Swedbank AB now owns 40,000 shares of the company’s stock valued at $5,049,000 after purchasing an additional 20,000 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of Tenet Healthcare by 12.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 24,274 shares of the company’s stock worth $3,064,000 after buying an additional 2,618 shares during the period. KBC Group NV raised its stake in Tenet Healthcare by 23.0% during the 4th quarter. KBC Group NV now owns 7,010 shares of the company’s stock valued at $885,000 after acquiring an additional 1,312 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Tenet Healthcare by 172.3% in the 4th quarter. Blue Trust Inc. now owns 689 shares of the company’s stock valued at $87,000 after purchasing an additional 436 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

NYSE:THC opened at $138.58 on Friday. The stock has a market capitalization of $13.18 billion, a PE ratio of 4.44, a P/E/G ratio of 0.60 and a beta of 2.06. The company has a fifty day moving average of $135.34 and a two-hundred day moving average of $147.94. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. Tenet Healthcare has a fifty-two week low of $79.00 and a fifty-two week high of $171.20.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.60. The company had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.44 EPS. As a group, research analysts forecast that Tenet Healthcare will post 11.37 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.