Tenet Healthcare Co. (NYSE:THC) Given Average Rating of “Buy” by Brokerages

Shares of Tenet Healthcare Co. (NYSE:THCGet Free Report) have been given an average recommendation of “Buy” by the eighteen analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, fifteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $121.18.

THC has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on shares of Tenet Healthcare from $107.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. StockNews.com upgraded shares of Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a report on Friday, June 7th. UBS Group upped their price objective on shares of Tenet Healthcare from $137.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Wolfe Research upgraded shares of Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 price objective for the company in a report on Wednesday, March 27th. Finally, Barclays upped their price target on shares of Tenet Healthcare from $113.00 to $147.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd.

Get Our Latest Analysis on THC

Insider Activity

In related news, Director Richard W. Fisher sold 2,500 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $123.20, for a total value of $308,000.00. Following the completion of the transaction, the director now owns 17,627 shares of the company’s stock, valued at $2,171,646.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tenet Healthcare news, Director Richard W. Fisher sold 1,400 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $132.24, for a total transaction of $185,136.00. Following the sale, the director now directly owns 16,227 shares of the company’s stock, valued at $2,145,858.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard W. Fisher sold 2,500 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $123.20, for a total transaction of $308,000.00. Following the sale, the director now directly owns 17,627 shares in the company, valued at $2,171,646.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,691 shares of company stock valued at $3,117,909. Insiders own 0.93% of the company’s stock.

Institutional Trading of Tenet Healthcare

Large investors have recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in Tenet Healthcare during the first quarter worth about $29,000. Versant Capital Management Inc bought a new stake in shares of Tenet Healthcare during the second quarter valued at approximately $71,000. GAMMA Investing LLC bought a new stake in shares of Tenet Healthcare during the fourth quarter valued at approximately $52,000. Fidelis Capital Partners LLC bought a new stake in shares of Tenet Healthcare during the first quarter valued at approximately $78,000. Finally, FinTrust Capital Advisors LLC grew its stake in shares of Tenet Healthcare by 108.6% during the fourth quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock valued at $68,000 after purchasing an additional 467 shares during the last quarter. 95.44% of the stock is owned by institutional investors.

Tenet Healthcare Trading Up 1.3 %

Tenet Healthcare stock opened at $130.97 on Wednesday. The company’s fifty day simple moving average is $131.79 and its 200-day simple moving average is $105.62. The company has a quick ratio of 1.37, a current ratio of 1.44 and a debt-to-equity ratio of 2.58. Tenet Healthcare has a 12 month low of $51.04 and a 12 month high of $142.35. The stock has a market cap of $12.79 billion, a P/E ratio of 5.08, a P/E/G ratio of 1.19 and a beta of 2.15.

Tenet Healthcare (NYSE:THCGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, beating the consensus estimate of $1.45 by $1.77. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. The business had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.15 billion. During the same period in the previous year, the company posted $1.42 EPS. Tenet Healthcare’s revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts forecast that Tenet Healthcare will post 8.7 EPS for the current fiscal year.

About Tenet Healthcare

(Get Free Report

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.

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Analyst Recommendations for Tenet Healthcare (NYSE:THC)

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