Analysts Set Tenet Healthcare Corporation (NYSE:THC) PT at $233.81

Shares of Tenet Healthcare Corporation (NYSE:THC) have been assigned an average recommendation of “Moderate Buy” from the twenty analysts that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $233.8750.

THC has been the subject of several research analyst reports. Royal Bank Of Canada lifted their price objective on Tenet Healthcare from $252.00 to $253.00 and gave the stock an “outperform” rating in a report on Tuesday. Cantor Fitzgerald increased their price objective on shares of Tenet Healthcare from $190.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Weiss Ratings upgraded shares of Tenet Healthcare from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. The Goldman Sachs Group began coverage on Tenet Healthcare in a research report on Tuesday, October 14th. They set a “buy” rating and a $224.00 target price for the company. Finally, Mizuho increased their target price on Tenet Healthcare from $194.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, October 17th.

Insider Activity

In related news, Director Nadja West sold 2,178 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $197.47, for a total value of $430,089.66. Following the transaction, the director owned 28,480 shares of the company’s stock, valued at $5,623,945.60. This trade represents a 7.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Tenet Healthcare

Several institutional investors have recently made changes to their positions in THC. Wedmont Private Capital raised its stake in shares of Tenet Healthcare by 2.5% in the fourth quarter. Wedmont Private Capital now owns 2,088 shares of the company’s stock worth $422,000 after purchasing an additional 50 shares during the last quarter. Baron Wealth Management LLC lifted its position in Tenet Healthcare by 4.8% during the fourth quarter. Baron Wealth Management LLC now owns 1,142 shares of the company’s stock valued at $227,000 after purchasing an additional 52 shares during the period. Sagespring Wealth Partners LLC boosted its holdings in Tenet Healthcare by 3.6% in the fourth quarter. Sagespring Wealth Partners LLC now owns 1,573 shares of the company’s stock valued at $313,000 after purchasing an additional 55 shares during the last quarter. Crestwood Advisors Group LLC raised its stake in shares of Tenet Healthcare by 2.5% during the 3rd quarter. Crestwood Advisors Group LLC now owns 2,606 shares of the company’s stock valued at $529,000 after buying an additional 64 shares during the last quarter. Finally, Signaturefd LLC boosted its position in Tenet Healthcare by 9.0% in the 4th quarter. Signaturefd LLC now owns 798 shares of the company’s stock worth $159,000 after purchasing an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

Shares of Tenet Healthcare stock traded up $2.97 during trading on Thursday, hitting $193.63. 63,977 shares of the company’s stock traded hands, compared to its average volume of 842,116. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.71 and a quick ratio of 1.64. The stock has a market capitalization of $17.02 billion, a P/E ratio of 13.27, a PEG ratio of 0.82 and a beta of 1.44. The business has a 50-day simple moving average of $199.33 and a 200-day simple moving average of $192.37. Tenet Healthcare has a 1 year low of $109.82 and a 1 year high of $222.82.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.