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

Shares of Tenet Healthcare Co. (NYSE:THC) have received a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $166.88.

THC has been the topic of a number of recent research reports. Raymond James downgraded Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price on the stock. in a research report on Friday, November 22nd. KeyCorp assumed coverage on Tenet Healthcare in a research note on Friday, October 11th. They set an “overweight” rating and a $200.00 price objective on the stock. Royal Bank of Canada raised their target price on shares of Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. StockNews.com lowered shares of Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 17th. Finally, Cantor Fitzgerald boosted their price objective on shares of Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th.

Insiders Place Their Bets

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare stock in a transaction on Thursday, October 31st. The stock was 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 directly owns 15,566 shares of the company’s stock, valued at $2,427,362.04. The trade was a 20.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Innealta Capital LLC acquired a new position in shares of Tenet Healthcare in the 2nd quarter valued at approximately $28,000. Plato Investment Management Ltd acquired a new position in Tenet Healthcare during the third quarter valued at approximately $28,000. ORG Wealth Partners LLC acquired a new stake in shares of Tenet Healthcare in the 3rd quarter valued at $30,000. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Tenet Healthcare during the 2nd quarter worth $34,000. Finally, Financial Management Professionals Inc. boosted its stake in Tenet Healthcare by 2,222.2% in the third quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock valued at $35,000 after buying an additional 200 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Price Performance

THC stock opened at $127.97 on Wednesday. The stock has a market cap of $12.17 billion, a PE ratio of 4.10, a price-to-earnings-growth ratio of 0.61 and a beta of 2.06. The stock has a 50-day moving average price of $146.53 and a two-hundred day moving average price of $148.91. Tenet Healthcare has a 1 year low of $73.21 and a 1 year high of $171.20. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35.

Tenet Healthcare (NYSE:THC) last released its earnings results on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.33 by $0.60. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The firm had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the previous year, the business posted $1.44 EPS. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities analysts forecast that Tenet Healthcare will post 11.38 EPS 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.