Tenet Healthcare Co. (NYSE:THC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Tenet Healthcare Co. (NYSE:THC) has earned a consensus rating of “Moderate Buy” from the eighteen analysts that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $163.88.

THC has been the topic of a number of research analyst reports. Wells Fargo & Company lowered shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $205.00 to $150.00 in a research report on Monday, November 25th. KeyCorp cut their target price on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Barclays cut their price target on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Truist Financial cut their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $177.00 price target on shares of Tenet Healthcare in a report on Thursday, February 13th.

Insider Buying and Selling at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the transaction, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Tenet Healthcare during the fourth quarter valued at about $8,783,000. Forum Financial Management LP grew its holdings in shares of Tenet Healthcare by 43.5% during the fourth quarter. Forum Financial Management LP now owns 2,469 shares of the company’s stock valued at $312,000 after buying an additional 749 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Tenet Healthcare during the fourth quarter valued at about $2,773,000. Vise Technologies Inc. boosted its holdings in Tenet Healthcare by 28.4% during the fourth quarter. Vise Technologies Inc. now owns 1,613 shares of the company’s stock worth $204,000 after purchasing an additional 357 shares during the last quarter. Finally, MidWestOne Financial Group Inc. boosted its holdings in Tenet Healthcare by 6.7% during the fourth quarter. MidWestOne Financial Group Inc. now owns 11,822 shares of the company’s stock worth $1,492,000 after purchasing an additional 744 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Tenet Healthcare Stock Performance

NYSE THC opened at $122.76 on Monday. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. The firm has a market capitalization of $11.68 billion, a price-to-earnings ratio of 3.81, a P/E/G ratio of 1.02 and a beta of 2.06. The firm’s 50 day simple moving average is $132.46 and its 200 day simple moving average is $144.75. Tenet Healthcare has a 1 year low of $90.03 and a 1 year high of $171.20.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. As a group, research analysts expect that Tenet Healthcare will post 12.24 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.