Tenet Healthcare Co. (NYSE:THC) Receives $165.00 Average Target Price from Analysts

Shares of Tenet Healthcare Co. (NYSE:THC - Get Free Report) have earned a consensus rating of "Moderate Buy" from the seventeen research firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $165.00.

THC has been the subject of several recent analyst reports. KeyCorp cut their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Wells Fargo & Company downgraded shares of Tenet Healthcare from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $205.00 to $150.00 in a report on Monday, November 25th. Royal Bank of Canada increased their price objective on Tenet Healthcare from $174.00 to $183.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. The Goldman Sachs Group lowered Tenet Healthcare from a "buy" rating to a "neutral" rating and decreased their price target for the company from $196.00 to $140.00 in a research note on Monday, December 16th. Finally, Raymond James lowered shares of Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 price objective on the stock. in a report on Friday, November 22nd.

Tenet Healthcare Price Performance

Shares of NYSE THC traded down $1.91 during mid-day trading on Friday, reaching $130.86. The company's stock had a trading volume of 747,352 shares, compared to its average volume of 1,247,127. The stock has a market capitalization of $12.44 billion, a P/E ratio of 4.19, a P/E/G ratio of 0.58 and a beta of 2.06. Tenet Healthcare has a 1-year low of $78.77 and a 1-year high of $171.20. The stock has a 50-day moving average of $137.71 and a two-hundred day moving average of $148.03. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, topping 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 return on equity of 24.05% and a net margin of 14.91%. The business's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.44 EPS. On average, equities research analysts anticipate that Tenet Healthcare will post 11.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $155.94, for a total transaction of $623,760.00. Following the completion of the sale, the executive vice president now directly owns 15,566 shares of the company's stock, valued at $2,427,362.04. The trade was a 20.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.93% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of THC. Legacy Capital Group California Inc. acquired a new position in Tenet Healthcare during the third quarter worth approximately $1,055,000. Signet Financial Management LLC purchased a new stake in Tenet Healthcare in the 4th quarter valued at $1,526,000. Intech Investment Management LLC grew its position in Tenet Healthcare by 44.4% during the 3rd quarter. Intech Investment Management LLC now owns 79,266 shares of the company's stock worth $13,174,000 after purchasing an additional 24,385 shares during the last quarter. Swiss National Bank raised its holdings in shares of Tenet Healthcare by 8.7% in the third quarter. Swiss National Bank now owns 190,800 shares of the company's stock valued at $31,711,000 after buying an additional 15,200 shares during the last quarter. Finally, Estate Counselors LLC purchased a new position in shares of Tenet Healthcare during the third quarter worth about $1,792,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

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.