Tenet Healthcare Co. (NYSE:THC) Receives $95.27 Consensus Price Target from Brokerages

Tenet Healthcare Co. (NYSE:THC) has been assigned a consensus recommendation of “Buy” from the fifteen analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $97.56.

THC has been the subject of a number of recent analyst reports. Wolfe Research upgraded shares of Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 price objective for the company in a report on Wednesday. Barclays initiated coverage on shares of Tenet Healthcare in a research note on Wednesday, March 6th. They set an “overweight” rating and a $113.00 target price for the company. TheStreet upgraded shares of Tenet Healthcare from a “c+” rating to a “b-” rating in a research note on Tuesday, February 6th. Truist Financial boosted their target price on shares of Tenet Healthcare from $92.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $104.00 target price on shares of Tenet Healthcare in a research note on Tuesday, March 5th.

Insider Activity at Tenet Healthcare

In related news, Director Richard J. Mark sold 14,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the completion of the transaction, the director now directly owns 33,303 shares in the company, valued at $3,296,330.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tenet Healthcare news, Director Richard J. Mark sold 14,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total value of $1,385,720.00. Following the completion of the transaction, the director now owns 33,303 shares in the company, valued at $3,296,330.94. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Paola M. Arbour sold 18,168 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total transaction of $1,761,569.28. Following the completion of the transaction, the executive vice president now owns 29,803 shares of the company’s stock, valued at approximately $2,889,698.88. The disclosure for this sale can be found here. Insiders sold 51,268 shares of company stock worth $4,944,810 over the last three months. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its stake in Tenet Healthcare by 34.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,124,316 shares of the company’s stock valued at $538,386,000 after acquiring an additional 1,810,993 shares in the last quarter. Marshall Wace LLP grew its stake in Tenet Healthcare by 259.1% during the 2nd quarter. Marshall Wace LLP now owns 2,281,465 shares of the company’s stock valued at $185,666,000 after acquiring an additional 1,646,137 shares in the last quarter. BlackRock Inc. grew its stake in Tenet Healthcare by 14.7% during the 1st quarter. BlackRock Inc. now owns 11,639,373 shares of the company’s stock valued at $691,612,000 after acquiring an additional 1,491,799 shares in the last quarter. Norges Bank purchased a new stake in shares of Tenet Healthcare in the 4th quarter valued at approximately $65,580,000. Finally, Glenview Capital Management LLC grew its stake in shares of Tenet Healthcare by 12.8% in the 4th quarter. Glenview Capital Management LLC now owns 7,742,322 shares of the company’s stock valued at $585,087,000 after buying an additional 877,180 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Stock Up 0.2 %

NYSE THC opened at $105.11 on Monday. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.51 and a quick ratio of 1.42. The stock has a market capitalization of $10.51 billion, a PE ratio of 18.41, a PEG ratio of 3.29 and a beta of 2.07. Tenet Healthcare has a 1 year low of $51.04 and a 1 year high of $107.80. The business’s 50-day moving average is $93.07 and its 200 day moving average is $75.93.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Thursday, February 8th. The company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $1.58 by $1.10. Tenet Healthcare had a return on equity of 26.34% and a net margin of 2.97%. The business had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the previous year, the firm posted $1.96 EPS. The business’s revenue was up 7.8% on a year-over-year basis. Sell-side analysts forecast that Tenet Healthcare will post 6.09 earnings per share for the current 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.