Brokerages Set Tenet Healthcare Co. (NYSE:THC) Price Target at $165.00

Tenet Healthcare Co. (NYSE:THC - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the seventeen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $163.19.

Several equities research analysts recently commented on THC shares. Cantor Fitzgerald reiterated an "overweight" rating and set a $177.00 price target on shares of Tenet Healthcare in a research note on Thursday. 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 research note on Friday, November 22nd. Truist Financial dropped their price objective on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Barclays dropped their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating on the stock in a research note on Thursday. Finally, UBS Group lifted their price objective on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th.

Institutional Trading of Tenet Healthcare

Institutional investors have recently added to or reduced their stakes in the stock. Plato Investment Management Ltd purchased a new stake in Tenet Healthcare during the third quarter worth about $28,000. ORG Wealth Partners LLC purchased a new stake in Tenet Healthcare during the third quarter worth about $30,000. Financial Management Professionals Inc. boosted its holdings in Tenet Healthcare by 2,222.2% during the third quarter. Financial Management Professionals Inc. now owns 209 shares of the company's stock worth $35,000 after buying an additional 200 shares in the last quarter. True Wealth Design LLC purchased a new stake in shares of Tenet Healthcare in the third quarter valued at about $38,000. Finally, GeoWealth Management LLC lifted its holdings in shares of Tenet Healthcare by 39.8% in the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after purchasing an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.

Tenet Healthcare Stock Down 0.1 %

Shares of Tenet Healthcare stock traded down $0.17 during trading on Thursday, hitting $133.40. 1,991,865 shares of the stock were exchanged, compared to its average volume of 951,949. The firm's 50-day moving average price is $133.32 and its 200 day moving average price is $148.10. Tenet Healthcare has a 12-month low of $88.57 and a 12-month high of $171.20. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52. The stock has a market cap of $12.69 billion, a price-to-earnings ratio of 4.27, a price-to-earnings-growth ratio of 0.63 and a beta of 2.05.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. As a group, analysts forecast that Tenet Healthcare will post 11.37 earnings per share 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.