Tenet Healthcare Corporation (NYSE:THC) Receives Average Recommendation of “Moderate Buy” from Analysts

Tenet Healthcare Corporation (NYSE:THC) has received an average recommendation of “Moderate Buy” from the twenty analysts that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $257.90.

THC has been the topic of a number of research reports. Stephens reiterated an “overweight” rating and set a $285.00 target price on shares of Tenet Healthcare in a research report on Monday. Robert W. Baird decreased their price target on shares of Tenet Healthcare from $245.00 to $210.00 and set a “neutral” rating for the company in a research note on Tuesday, May 5th. Raymond James Financial set a $270.00 price objective on shares of Tenet Healthcare in a research report on Monday. Wells Fargo & Company boosted their target price on Tenet Healthcare from $213.00 to $231.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Finally, Wall Street Zen upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Sunday.

Insiders Place Their Bets

In related news, Director J Robert Kerrey sold 5,638 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $174.52, for a total value of $983,943.76. Following the transaction, the director directly owned 16,804 shares in the company, valued at $2,932,634.08. This trade represents a 25.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Nadja West sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $177.35, for a total transaction of $532,050.00. Following the sale, the director owned 24,805 shares of the company’s stock, valued at $4,399,166.75. This trade represents a 10.79% decrease in their position. The SEC filing for this sale provides additional information. 0.97% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tenet Healthcare

Several large investors have recently added to or reduced their stakes in THC. Swedbank AB lifted its stake in Tenet Healthcare by 14.7% during the 4th quarter. Swedbank AB now owns 146,133 shares of the company’s stock valued at $29,040,000 after acquiring an additional 18,750 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Tenet Healthcare in the 1st quarter worth $4,812,000. Jackson Creek Investment Advisors LLC raised its holdings in shares of Tenet Healthcare by 235.6% in the fourth quarter. Jackson Creek Investment Advisors LLC now owns 9,032 shares of the company’s stock valued at $1,795,000 after purchasing an additional 6,341 shares during the last quarter. Brandywine Global Investment Management LLC lifted its position in shares of Tenet Healthcare by 20.5% during the fourth quarter. Brandywine Global Investment Management LLC now owns 126,248 shares of the company’s stock valued at $25,088,000 after purchasing an additional 21,435 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in Tenet Healthcare by 3,478.7% during the fourth quarter. Hsbc Holdings PLC now owns 266,400 shares of the company’s stock worth $53,269,000 after purchasing an additional 258,956 shares during the last quarter. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Trading Up 4.0%

NYSE THC opened at $242.42 on Thursday. The stock has a market capitalization of $20.88 billion, a P/E ratio of 9.35, a P/E/G ratio of 1.61 and a beta of 1.27. The business has a 50 day simple moving average of $186.16 and a 200 day simple moving average of $197.79. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.41 and a quick ratio of 1.35. Tenet Healthcare has a one year low of $151.00 and a one year high of $248.82.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Friday, July 24th. The company reported $6.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.26 by $1.86. The firm had revenue of $6.04 billion for the quarter, compared to analysts’ expectations of $5.43 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 10.27%.The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $4.02 EPS. Research analysts expect that Tenet Healthcare will post 21 earnings per share for the current year.

About Tenet Healthcare

Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.