Tenet Healthcare Corporation (NYSE:THC) Stock Rated “Moderate Buy” by Wall Street Brokerages

Shares of Tenet Healthcare Corporation (NYSE:THC) have been given an average rating of “Moderate Buy” by the twenty-three ratings firms that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and twenty have assigned a 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 $293.48.

A number of analysts have weighed in on THC shares. BMO Capital Markets assumed coverage on shares of Tenet Healthcare in a report on Tuesday, September 22nd. They set a “market perform” rating and a $265.00 target price on the stock. Zacks Research lowered Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Raymond James Financial reaffirmed an “outperform” rating and issued a $285.00 target price on shares of Tenet Healthcare in a research note on Friday, August 14th. Mizuho set a $305.00 target price on shares of Tenet Healthcare in a research note on Monday. Finally, Morgan Stanley upped their price target on Tenet Healthcare from $254.00 to $274.00 and gave the company an “overweight” rating in a research report on Monday, July 27th.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, EVP Lisa Foo sold 24,000 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $266.32, for a total transaction of $6,391,680.00. Following the sale, the executive vice president owned 8,053 shares of the company’s stock, valued at approximately $2,144,674.96. The trade was a 74.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Saumya Sutaria sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $278.71, for a total transaction of $13,935,500.00. Following the sale, the chief executive officer owned 483,564 shares of the company’s stock, valued at $134,774,122.44. This represents a 9.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 98,462 shares of company stock valued at $26,788,234. Insiders own 0.97% of the company’s stock.

Institutional Trading of Tenet Healthcare

Institutional investors have recently bought and sold shares of the stock. Aberdeen Group plc boosted its position in Tenet Healthcare by 4,392.9% during the third quarter. Aberdeen Group plc now owns 845,555 shares of the company’s stock worth $216,090,000 after purchasing an additional 826,735 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of Tenet Healthcare during the 2nd quarter worth approximately $168,761,000. Arrowstreet Capital Limited Partnership lifted its stake in Tenet Healthcare by 57.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 671,700 shares of the company’s stock worth $126,757,000 after purchasing an additional 244,901 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Tenet Healthcare during the second quarter valued at approximately $106,342,000. Finally, Empowered Funds LLC increased its holdings in Tenet Healthcare by 22.1% during the 1st quarter. Empowered Funds LLC now owns 284,753 shares of the company’s stock valued at $53,736,000 after purchasing an additional 51,549 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

Tenet Healthcare stock opened at $283.51 on Friday. The firm’s 50 day simple moving average is $265.32 and its 200 day simple moving average is $222.39. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 1.76. Tenet Healthcare has a 1-year low of $157.58 and a 1-year high of $301.44. The firm has a market capitalization of $22.56 billion, a PE ratio of 8.22, a price-to-earnings-growth ratio of 1.44 and a beta of 1.20.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Thursday, October 29th. The company reported $6.64 EPS for the quarter, topping analysts’ consensus estimates of $4.68 by $1.96. The firm had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $5.49 billion. Tenet Healthcare had a return on equity of 28.22% and a net margin of 13.09%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $3.70 earnings per share. As a group, analysts expect that Tenet Healthcare will post 22.32 earnings per share for the current fiscal year.

About Tenet Healthcare

Tenet Healthcare Corp. (NYSE: THC) is a diversified healthcare services company headquartered in Dallas, Texas. Through its hospital operations and outpatient platforms, the company provides a range of medical services to patients across the United States.

Tenet operates acute care and specialty hospitals, ambulatory surgery centers, imaging facilities and other outpatient care sites. Its United Surgical Partners International subsidiary is a major provider of ambulatory surgery services and partners with physicians and health systems.