Brokerages Set Tenet Healthcare Co. (NYSE:THC) Price Target at $152.69

Tenet Healthcare Co. (NYSE:THC) has earned a consensus recommendation of “Buy” from the seventeen brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $152.69.

Several research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Tenet Healthcare from $107.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Raymond James boosted their price objective on Tenet Healthcare from $130.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 25th. Baird R W raised shares of Tenet Healthcare to a “strong-buy” rating in a research note on Thursday, May 30th. Wells Fargo & Company increased their price objective on shares of Tenet Healthcare from $145.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, UBS Group upped their target price on shares of Tenet Healthcare from $180.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th.

Insider Buying and Selling at Tenet Healthcare

In related news, Director Meghan Fitzgerald sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $146.34, for a total value of $2,926,800.00. Following the completion of the sale, the director now directly owns 15,269 shares in the company, valued at approximately $2,234,465.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Tenet Healthcare news, Director Richard W. Fisher sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $163.67, for a total value of $327,340.00. Following the transaction, the director now directly owns 14,227 shares in the company, valued at $2,328,533.09. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Meghan Fitzgerald sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $146.34, for a total transaction of $2,926,800.00. Following the sale, the director now owns 15,269 shares of the company’s stock, valued at approximately $2,234,465.46. The disclosure for this sale can be found here. Insiders sold a total of 128,203 shares of company stock worth $19,754,997 over the last quarter. 0.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tenet Healthcare

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Tenet Healthcare by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 11,110,396 shares of the company’s stock worth $839,613,000 after purchasing an additional 172,913 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Tenet Healthcare by 11.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,915,000 shares of the company’s stock worth $831,947,000 after buying an additional 790,684 shares in the last quarter. Glenview Capital Management LLC boosted its position in shares of Tenet Healthcare by 12.8% in the fourth quarter. Glenview Capital Management LLC now owns 7,742,322 shares of the company’s stock valued at $585,087,000 after acquiring an additional 877,180 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Tenet Healthcare by 16.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,516,792 shares of the company’s stock valued at $114,629,000 after acquiring an additional 212,185 shares in the last quarter. Finally, Greenlight Capital Inc. raised its stake in Tenet Healthcare by 44.3% in the 4th quarter. Greenlight Capital Inc. now owns 1,315,970 shares of the company’s stock worth $99,448,000 after purchasing an additional 404,190 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Tenet Healthcare Trading Down 1.3 %

NYSE THC opened at $165.10 on Monday. The company has a current ratio of 1.45, a quick ratio of 1.38 and a debt-to-equity ratio of 2.53. Tenet Healthcare has a 12 month low of $51.04 and a 12 month high of $167.29. The company has a market capitalization of $16.13 billion, a PE ratio of 6.41, a P/E/G ratio of 0.80 and a beta of 2.14. The stock has a 50-day simple moving average of $152.47 and a 200 day simple moving average of $129.74.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Wednesday, July 24th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.42. Tenet Healthcare had a net margin of 13.17% and a return on equity of 24.66%. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $4.98 billion. Research analysts forecast that Tenet Healthcare will post 10.7 EPS for the current year.

Tenet Healthcare announced that its board has initiated a stock buyback program on Wednesday, July 24th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 10.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Tenet Healthcare Company Profile

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.