Tenet Healthcare (THC) – Investment Analysts’ Recent Ratings Updates

Tenet Healthcare (NYSE: THC) has recently received a number of price target changes and ratings updates:

  • 10/13/2021 – Tenet Healthcare had its price target lowered by analysts at Truist Securities from $78.00 to $72.00. They now have a “hold” rating on the stock.
  • 10/13/2021 – Tenet Healthcare had its price target lowered by analysts at Truist from $78.00 to $72.00. They now have a “hold” rating on the stock.
  • 9/27/2021 – Tenet Healthcare is now covered by analysts at SVB Leerink LLC. They set a “market perform” rating and a $80.00 price target on the stock.
  • 9/23/2021 – Tenet Healthcare is now covered by analysts at UBS Group AG. They set a “neutral” rating and a $83.00 price target on the stock.
  • 9/8/2021 – Tenet Healthcare had its price target raised by analysts at Barclays PLC from $78.00 to $79.00. They now have an “overweight” rating on the stock.

Shares of NYSE THC traded up $1.97 during midday trading on Thursday, hitting $62.99. 12,108 shares of the company’s stock were exchanged, compared to its average volume of 946,492. The company has a debt-to-equity ratio of 12.91, a current ratio of 1.46 and a quick ratio of 1.39. The stock’s 50 day moving average price is $70.49 and its 200-day moving average price is $66.02. The firm has a market cap of $6.74 billion, a P/E ratio of 15.75 and a beta of 2.58. Tenet Healthcare Co. has a twelve month low of $24.15 and a twelve month high of $76.15.

Tenet Healthcare (NYSE:THC) last released its earnings results on Tuesday, July 20th. The company reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.52. The firm had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.78 billion. Tenet Healthcare had a return on equity of 60.15% and a net margin of 2.26%. The firm’s revenue for the quarter was up 35.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.26 earnings per share. On average, analysts expect that Tenet Healthcare Co. will post 5.63 EPS for the current fiscal year.

In other Tenet Healthcare news, Director Meghan Fitzgerald sold 6,077 shares of the company’s stock in a transaction on Thursday, September 16th. The stock was sold at an average price of $72.70, for a total value of $441,797.90. Following the transaction, the director now owns 27,751 shares of the company’s stock, valued at $2,017,497.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Audrey T. Andrews sold 65,408 shares of the business’s stock in a transaction on Thursday, August 12th. The shares were sold at an average price of $69.05, for a total transaction of $4,516,422.40. The disclosure for this sale can be found here. Insiders sold 94,709 shares of company stock worth $6,612,775 in the last ninety days. 1.60% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Harvest Fund Management Co. Ltd bought a new stake in Tenet Healthcare in the first quarter worth $31,000. Captrust Financial Advisors boosted its holdings in Tenet Healthcare by 324.9% in the first quarter. Captrust Financial Advisors now owns 871 shares of the company’s stock worth $45,000 after purchasing an additional 666 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in Tenet Healthcare in the second quarter worth $60,000. Carolina Wealth Advisors LLC boosted its holdings in Tenet Healthcare by 18.2% in the second quarter. Carolina Wealth Advisors LLC now owns 1,420 shares of the company’s stock worth $95,000 after purchasing an additional 219 shares in the last quarter. Finally, IFP Advisors Inc bought a new stake in Tenet Healthcare in the second quarter worth $97,000. Institutional investors and hedge funds own 92.92% of the company’s stock.

Tenet Healthcare Corp. engages in the provision of health care services. It operates through the following segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The Hospital Operations and Other segment comprises of acute care hospitals, ancillary outpatient facilities, urgent care centers, microhospitals and physician practices.

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