Brokerages Set Tenet Healthcare Co. (NYSE:THC) PT at $165.00

Tenet Healthcare Co. (NYSE:THC) has been assigned an average recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $163.19.

THC has been the topic of several recent analyst reports. UBS Group upped their price target on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Raymond James lowered shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price on the stock. in a research note on Friday, November 22nd. Royal Bank of Canada lifted their price target on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company cut Tenet Healthcare from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $205.00 to $150.00 in a research note on Monday, November 25th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $177.00 price target on shares of Tenet Healthcare in a report on Thursday, February 13th.

Hedge Funds Weigh In On Tenet Healthcare

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Plato Investment Management Ltd acquired a new position in Tenet Healthcare during the 3rd quarter worth $28,000. ORG Wealth Partners LLC acquired a new stake in Tenet Healthcare in the third quarter worth about $30,000. Colonial Trust Co SC grew its position in Tenet Healthcare by 85.7% in the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company’s stock valued at $31,000 after buying an additional 114 shares in the last quarter. Financial Management Professionals Inc. raised its position in shares of Tenet Healthcare by 2,222.2% during the 3rd quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock worth $35,000 after buying an additional 200 shares in the last quarter. Finally, GeoWealth Management LLC increased its position in shares of Tenet Healthcare by 39.8% during the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock valued at $37,000 after purchasing an additional 84 shares during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $135.55 on Thursday. The company’s fifty day moving average price is $133.00 and its two-hundred day moving average price is $147.87. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The firm has a market capitalization of $12.89 billion, a P/E ratio of 4.21, a P/E/G ratio of 0.79 and a beta of 2.05. Tenet Healthcare has a 12 month low of $88.98 and a 12 month high of $171.20.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, beating analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. On average, research analysts anticipate that Tenet Healthcare will post 12.13 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.