Shares of Tenet Healthcare Co. (NYSE:THC - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the eighteen brokerages that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $166.41.
A number of equities analysts have weighed in on THC shares. Barclays decreased their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $177.00 price target on shares of Tenet Healthcare in a report on Thursday, February 13th. The Goldman Sachs Group lowered Tenet Healthcare from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $196.00 to $140.00 in a report on Monday, December 16th. TD Cowen started coverage on Tenet Healthcare in a research report on Wednesday, February 26th. They issued a "buy" rating and a $175.00 target price for the company. Finally, Morgan Stanley started coverage on Tenet Healthcare in a research report on Wednesday, March 26th. They set an "overweight" rating and a $165.00 price target on the stock.
Read Our Latest Stock Analysis on Tenet Healthcare
Insider Buying and Selling at Tenet Healthcare
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 value of $1,194,720.75. Following the sale, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.93% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in THC. Norges Bank acquired a new stake in Tenet Healthcare in the fourth quarter worth about $190,819,000. Wealthfront Advisers LLC acquired a new stake in shares of Tenet Healthcare in the 4th quarter worth approximately $69,059,000. Geode Capital Management LLC boosted its holdings in shares of Tenet Healthcare by 23.6% in the third quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company's stock valued at $339,893,000 after acquiring an additional 390,316 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Tenet Healthcare during the fourth quarter worth approximately $49,001,000. Finally, Renaissance Technologies LLC boosted its stake in Tenet Healthcare by 579.2% during the 4th quarter. Renaissance Technologies LLC now owns 438,563 shares of the company's stock valued at $55,360,000 after purchasing an additional 373,988 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.
Tenet Healthcare Trading Down 9.5 %
Shares of THC stock traded down $12.63 during mid-day trading on Friday, reaching $120.23. The company's stock had a trading volume of 2,875,561 shares, compared to its average volume of 1,505,182. The company's 50 day simple moving average is $132.13 and its 200-day simple moving average is $141.54. The firm has a market capitalization of $11.44 billion, a PE ratio of 3.73, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. Tenet Healthcare has a 12-month low of $90.03 and a 12-month high of $171.20.
Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. On average, research analysts predict that Tenet Healthcare will post 12.24 EPS for the current fiscal year.
Tenet Healthcare Company Profile
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Get Free ReportTenet 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.
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