Tenet Healthcare Corporation (NYSE:THC) Receives $182.24 Consensus Target Price from Analysts

Tenet Healthcare Corporation (NYSE:THCGet Free Report) has been assigned an average rating of “Moderate Buy” from the nineteen research firms that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $182.24.

THC has been the subject of several analyst reports. Wells Fargo & Company upgraded shares of Tenet Healthcare from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $150.00 to $195.00 in a research note on Thursday, May 29th. Barclays boosted their price target on Tenet Healthcare from $171.00 to $215.00 and gave the company an “overweight” rating in a research note on Monday, June 2nd. Truist Financial raised their price objective on Tenet Healthcare from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Guggenheim started coverage on Tenet Healthcare in a research report on Wednesday, April 9th. They set a “buy” rating and a $165.00 target price for the company. Finally, Baird R W cut Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th.

View Our Latest Stock Analysis on THC

Insider Buying and Selling

In other news, Director Richard W. Fisher sold 836 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $173.16, for a total transaction of $144,761.76. Following the completion of the transaction, the director now owns 11,292 shares of the company’s stock, valued at approximately $1,955,322.72. This trade represents a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paola M. Arbour sold 6,461 shares of the firm’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $160.20, for a total value of $1,035,052.20. Following the transaction, the executive vice president now directly owns 27,848 shares of the company’s stock, valued at approximately $4,461,249.60. This represents a 18.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,121 shares of company stock worth $8,846,305 in the last 90 days. Insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in THC. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Tenet Healthcare during the 4th quarter worth approximately $5,892,000. Asset Management One Co. Ltd. boosted its stake in Tenet Healthcare by 541.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 9,478 shares of the company’s stock worth $1,213,000 after acquiring an additional 8,000 shares in the last quarter. Truist Financial Corp increased its stake in Tenet Healthcare by 1.6% in the fourth quarter. Truist Financial Corp now owns 12,407 shares of the company’s stock valued at $1,566,000 after purchasing an additional 198 shares in the last quarter. Alberta Investment Management Corp raised its holdings in shares of Tenet Healthcare by 212.5% during the fourth quarter. Alberta Investment Management Corp now owns 25,000 shares of the company’s stock valued at $3,156,000 after purchasing an additional 17,000 shares during the period. Finally, LPL Financial LLC boosted its position in shares of Tenet Healthcare by 40.6% during the 4th quarter. LPL Financial LLC now owns 67,136 shares of the company’s stock worth $8,475,000 after purchasing an additional 19,389 shares in the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Stock Up 0.3%

Tenet Healthcare stock opened at $168.12 on Wednesday. The company’s 50-day moving average price is $152.11 and its two-hundred day moving average price is $138.51. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.23. The stock has a market cap of $15.62 billion, a P/E ratio of 11.12, a P/E/G ratio of 1.22 and a beta of 1.65. Tenet Healthcare has a twelve month low of $109.82 and a twelve month high of $174.14.

Tenet Healthcare (NYSE:THCGet Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, topping the consensus estimate of $3.11 by $1.25. The business had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Tenet Healthcare had a return on equity of 22.58% and a net margin of 7.09%. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period last year, the firm posted $3.22 EPS. As a group, analysts expect that Tenet Healthcare will post 12.24 EPS for the current year.

About Tenet Healthcare

(Get Free Report

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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Analyst Recommendations for Tenet Healthcare (NYSE:THC)

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