Tenet Healthcare Corporation (NYSE:THC) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Tenet Healthcare Corporation (NYSE:THC) have earned a consensus recommendation of “Moderate Buy” from the twenty ratings firms that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $233.8125.

Several research analysts have issued reports on THC shares. TD Cowen restated a “buy” rating on shares of Tenet Healthcare in a research report on Wednesday, January 7th. Zacks Research lowered Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. The Goldman Sachs Group assumed coverage on Tenet Healthcare in a research note on Tuesday, October 14th. They issued a “buy” rating and a $224.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of Tenet Healthcare from $200.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Finally, Mizuho lifted their target price on shares of Tenet Healthcare from $194.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th.

Insider Activity at Tenet Healthcare

In other news, insider R. Scott Ramsey sold 13,322 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $205.11, for a total value of $2,732,475.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tammy Romo sold 15,099 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $200.81, for a total transaction of $3,032,030.19. Following the transaction, the director directly owned 47,267 shares in the company, valued at $9,491,686.27. The trade was a 24.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 43,000 shares of company stock valued at $8,725,996. Company insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Tenet Healthcare

A number of hedge funds have recently modified their holdings of the stock. Wedmont Private Capital increased its holdings in shares of Tenet Healthcare by 2.5% during the fourth quarter. Wedmont Private Capital now owns 2,088 shares of the company’s stock worth $422,000 after purchasing an additional 50 shares during the period. Baron Wealth Management LLC grew its position in Tenet Healthcare by 4.8% during the fourth quarter. Baron Wealth Management LLC now owns 1,142 shares of the company’s stock worth $227,000 after buying an additional 52 shares in the last quarter. Sagespring Wealth Partners LLC increased its stake in Tenet Healthcare by 3.6% during the 4th quarter. Sagespring Wealth Partners LLC now owns 1,573 shares of the company’s stock worth $313,000 after acquiring an additional 55 shares during the period. Crestwood Advisors Group LLC lifted its position in shares of Tenet Healthcare by 2.5% during the 3rd quarter. Crestwood Advisors Group LLC now owns 2,606 shares of the company’s stock valued at $529,000 after acquiring an additional 64 shares during the period. Finally, Signaturefd LLC grew its holdings in shares of Tenet Healthcare by 9.0% during the 4th quarter. Signaturefd LLC now owns 798 shares of the company’s stock worth $159,000 after purchasing an additional 66 shares in the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Price Performance

Shares of Tenet Healthcare stock opened at $189.73 on Thursday. Tenet Healthcare has a 52 week low of $109.82 and a 52 week high of $222.82. The company has a current ratio of 1.71, a quick ratio of 1.64 and a debt-to-equity ratio of 2.27. The company’s 50-day moving average price is $200.89 and its two-hundred day moving average price is $191.83. The stock has a market cap of $16.68 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 0.80 and a beta of 1.41.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $3.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.37. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.26 billion. Tenet Healthcare had a net margin of 6.49% and a return on equity of 25.11%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.93 EPS. As a group, sell-side analysts anticipate that Tenet Healthcare will post 12.24 EPS for the current fiscal year.

Tenet Healthcare Company Profile

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.