Tenet Healthcare Co. (NYSE:THC) Receives $163.65 Average PT from Analysts

Tenet Healthcare Co. (NYSE:THC) has been assigned a consensus rating of “Buy” from the eighteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $165.35.

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company upped their target price on Tenet Healthcare from $195.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group boosted their price target on Tenet Healthcare from $173.00 to $196.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Raymond James raised their price objective on Tenet Healthcare from $130.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. Barclays increased their target price on Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Truist Financial reaffirmed a “buy” rating and issued a $190.00 price target (up from $180.00) on shares of Tenet Healthcare in a report on Wednesday, October 30th.

Insider Buying and Selling

In related news, CEO Saumya Sutaria sold 86,227 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $154.41, for a total transaction of $13,314,311.07. Following the sale, the chief executive officer now owns 13,773 shares of the company’s stock, valued at $2,126,688.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Richard W. Fisher sold 2,000 shares of Tenet Healthcare stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $163.67, for a total transaction of $327,340.00. Following the completion of the sale, the director now owns 14,227 shares of the company’s stock, valued at approximately $2,328,533.09. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Saumya Sutaria sold 86,227 shares of Tenet Healthcare stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $154.41, for a total value of $13,314,311.07. Following the sale, the chief executive officer now owns 13,773 shares of the company’s stock, valued at approximately $2,126,688.93. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 112,203 shares of company stock valued at $17,451,957 over the last 90 days. 0.93% of the stock is currently owned by company insiders.

Institutional Trading of Tenet Healthcare

Several large investors have recently added to or reduced their stakes in THC. BNP Paribas Financial Markets raised its stake in shares of Tenet Healthcare by 113.5% in the 1st quarter. BNP Paribas Financial Markets now owns 54,878 shares of the company’s stock valued at $5,768,000 after acquiring an additional 29,172 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Tenet Healthcare during the 1st quarter worth $410,000. Legacy Capital Group California Inc. bought a new position in Tenet Healthcare in the 3rd quarter worth $1,055,000. Diversified Trust Co acquired a new position in Tenet Healthcare during the 2nd quarter worth $558,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Tenet Healthcare in the first quarter valued at about $537,000. 95.44% of the stock is owned by institutional investors.

Tenet Healthcare Stock Up 1.0 %

THC opened at $166.91 on Tuesday. The business has a 50 day simple moving average of $159.45 and a 200-day simple moving average of $145.65. Tenet Healthcare has a 12 month low of $53.63 and a 12 month high of $171.20. The stock has a market capitalization of $15.87 billion, a P/E ratio of 5.35, a P/E/G ratio of 0.74 and a beta of 2.15. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.33 by $0.60. The business had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.44 EPS. On average, equities analysts anticipate that Tenet Healthcare will post 11.38 earnings per share for the current fiscal year.

Tenet Healthcare declared that its Board of Directors has approved a share repurchase plan on Wednesday, July 24th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to purchase up to 10.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

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.