Analysts Set Tenet Healthcare Co. (NYSE:THC) Price Target at $121.18

Tenet Healthcare Co. (NYSE:THC) has earned a consensus recommendation of “Buy” from the eighteen brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $121.18.

THC has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price target on shares of Tenet Healthcare from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Truist Financial reaffirmed a “buy” rating and set a $130.00 price target (up previously from $120.00) on shares of Tenet Healthcare in a report on Wednesday, May 1st. StockNews.com raised shares of Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 7th. Wolfe Research raised 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 research note on Wednesday, March 27th. Finally, Baird R W raised shares of Tenet Healthcare to a “strong-buy” rating in a research note on Thursday, May 30th.

Tenet Healthcare Stock Performance

Shares of NYSE:THC opened at $130.97 on Wednesday. The company’s 50 day moving average price is $131.79 and its two-hundred day moving average price is $105.62. Tenet Healthcare has a 12-month low of $51.04 and a 12-month high of $142.35. The company has a quick ratio of 1.37, a current ratio of 1.44 and a debt-to-equity ratio of 2.58. The firm has a market cap of $12.79 billion, a PE ratio of 5.08, a PEG ratio of 1.19 and a beta of 2.15.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $1.77. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. The company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter in the prior year, the firm posted $1.42 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Equities research analysts predict that Tenet Healthcare will post 8.7 earnings per share for the current year.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, EVP Thomas W. Arnst sold 8,148 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $116.10, for a total value of $945,982.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Richard W. Fisher sold 2,500 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $123.20, for a total transaction of $308,000.00. Following the completion of the sale, the director now directly owns 17,627 shares in the company, valued at $2,171,646.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Thomas W. Arnst sold 8,148 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total transaction of $945,982.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,691 shares of company stock worth $3,117,909. 0.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tenet Healthcare

A number of large investors have recently bought and sold shares of THC. Rise Advisors LLC acquired a new stake in Tenet Healthcare in the first quarter worth $29,000. GAMMA Investing LLC acquired a new stake in Tenet Healthcare in the fourth quarter worth $52,000. Sunbelt Securities Inc. acquired a new stake in Tenet Healthcare in the third quarter worth $67,000. FinTrust Capital Advisors LLC grew its holdings in Tenet Healthcare by 108.6% in the fourth quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock worth $68,000 after purchasing an additional 467 shares during the period. Finally, Versant Capital Management Inc acquired a new stake in Tenet Healthcare in the second quarter worth $71,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

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.