Analysts Set Tenet Healthcare Co. (NYSE:THC) Target Price at $163.88

Tenet Healthcare Co. (NYSE:THC) has received a consensus rating of “Moderate Buy” from the eighteen brokerages that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $163.88.

THC has been the subject of several analyst reports. Raymond James cut Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price objective for the company. in a report on Friday, November 22nd. Cantor Fitzgerald restated an “overweight” rating and issued a $177.00 price objective on shares of Tenet Healthcare in a report on Thursday, February 13th. The Goldman Sachs Group cut Tenet Healthcare from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $196.00 to $140.00 in a report on Monday, December 16th. KeyCorp decreased their price objective on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, Barclays decreased their price objective on Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a report on Thursday, February 13th.

Insiders Place Their Bets

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the sale, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

A number of hedge funds and other institutional investors have recently made changes to their positions in THC. Janney Montgomery Scott LLC raised its position in shares of Tenet Healthcare by 135.0% in the third quarter. Janney Montgomery Scott LLC now owns 19,478 shares of the company’s stock valued at $3,237,000 after buying an additional 11,188 shares in the last quarter. Asset Management One Co. Ltd. raised its position in shares of Tenet Healthcare by 80.7% in the third quarter. Asset Management One Co. Ltd. now owns 1,478 shares of the company’s stock valued at $246,000 after buying an additional 660 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in shares of Tenet Healthcare by 7.8% in the third quarter. Concurrent Investment Advisors LLC now owns 2,933 shares of the company’s stock valued at $487,000 after buying an additional 213 shares in the last quarter. Assetmark Inc. raised its position in shares of Tenet Healthcare by 190.3% in the third quarter. Assetmark Inc. now owns 5,446 shares of the company’s stock valued at $905,000 after buying an additional 3,570 shares in the last quarter. Finally, Atria Investments Inc raised its position in shares of Tenet Healthcare by 31.8% in the third quarter. Atria Investments Inc now owns 3,871 shares of the company’s stock valued at $643,000 after buying an additional 935 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Tenet Healthcare Stock Performance

THC opened at $122.76 on Monday. The business’s 50-day moving average price is $132.46 and its two-hundred day moving average price is $144.49. Tenet Healthcare has a 1 year low of $90.03 and a 1 year high of $171.20. The company has a market capitalization of $11.68 billion, a price-to-earnings ratio of 3.81, a P/E/G ratio of 1.02 and a beta of 2.06. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. Equities analysts expect that Tenet Healthcare will post 12.24 EPS for the current fiscal 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.