Brokerages Set Tenet Healthcare Co. (NYSE:THC) Target Price at $163.65

Tenet Healthcare Co. (NYSE:THC - Get Free Report) has been given a consensus rating of "Buy" by the eighteen research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, fourteen have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $163.65.

THC has been the topic of a number of recent analyst reports. Raymond James raised their price target on shares of Tenet Healthcare from $130.00 to $175.00 and gave the company a "strong-buy" rating in a research report on Thursday, July 25th. Citigroup increased their price target on Tenet Healthcare from $139.00 to $171.00 and gave the company a "buy" rating in a research report on Thursday, July 25th. Truist Financial reaffirmed a "buy" rating and set a $190.00 target price (up from $180.00) on shares of Tenet Healthcare in a research report on Wednesday, October 30th. UBS Group raised their price objective on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Finally, KeyCorp began coverage on Tenet Healthcare in a report on Friday, October 11th. They set an "overweight" rating and a $200.00 price objective for the company.

Insider Activity at Tenet Healthcare

In other news, Director Richard W. Fisher sold 2,000 shares of the 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 transaction, the director now owns 14,227 shares of the company's stock, valued at approximately $2,328,533.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider R. Scott Ramsey sold 11,599 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the transaction, the insider now owns 6,324 shares in the company, valued at $1,024,867.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard W. Fisher sold 2,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $163.67, for a total transaction of $327,340.00. Following the transaction, the director now directly owns 14,227 shares in the company, valued at approximately $2,328,533.09. The trade was 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 worth $17,451,957 in the last 90 days. 0.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tenet Healthcare

Several institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new stake in Tenet Healthcare during the 3rd quarter valued at about $674,000. Entropy Technologies LP increased its holdings in shares of Tenet Healthcare by 437.8% in the third quarter. Entropy Technologies LP now owns 10,567 shares of the company's stock valued at $1,756,000 after purchasing an additional 8,602 shares during the last quarter. Venturi Wealth Management LLC raised its stake in Tenet Healthcare by 36.0% during the third quarter. Venturi Wealth Management LLC now owns 521 shares of the company's stock worth $87,000 after purchasing an additional 138 shares during the period. GDS Wealth Management purchased a new stake in Tenet Healthcare in the 3rd quarter valued at about $508,000. Finally, Chartwell Investment Partners LLC increased its stake in shares of Tenet Healthcare by 90.6% during the third quarter. Chartwell Investment Partners LLC now owns 32,464 shares of the company's stock worth $5,396,000 after buying an additional 15,428 shares during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Tenet Healthcare Stock Up 2.8 %

Shares of NYSE:THC traded up $4.49 during trading on Tuesday, reaching $166.87. 1,177,335 shares of the stock were exchanged, compared to its average volume of 1,212,118. The firm has a market cap of $15.87 billion, a price-to-earnings ratio of 5.24, a price-to-earnings-growth ratio of 0.70 and a beta of 2.15. The stock has a fifty day moving average of $159.36 and a two-hundred day moving average of $143.22. 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 has a 1-year low of $52.08 and a 1-year high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.60. The business had revenue of $5.12 billion for the quarter, compared to analysts' expectations of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The firm's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.44 EPS. Research analysts anticipate that Tenet Healthcare will post 11.38 earnings per share for the current fiscal year.

Tenet Healthcare declared that its board has approved a share buyback program on Wednesday, July 24th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 10.3% of its stock through open market purchases. Stock repurchase programs are usually an indication 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.