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

Tenet Healthcare Co. (NYSE:THC) has been given a consensus recommendation of “Moderate Buy” by the eighteen analysts that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $163.88.

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and set a $175.00 price target on shares of Tenet Healthcare in a research report on Tuesday, December 17th. StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday. Wells Fargo & Company cut shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $205.00 to $150.00 in a research report on Monday, November 25th. KeyCorp cut their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, TD Cowen started coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 price objective on the stock.

Tenet Healthcare Price Performance

THC opened at $122.76 on Monday. The company has a fifty day moving average price of $132.46 and a two-hundred day moving average price of $144.75. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. Tenet Healthcare has a 52 week low of $90.03 and a 52 week high of $171.20. The firm has a market capitalization of $11.68 billion, a PE ratio of 3.81, a P/E/G ratio of 1.02 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last released its earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, topping 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%. As a group, analysts anticipate that Tenet Healthcare will post 12.24 earnings per share for the current year.

Insider Transactions at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the company’s stock in a transaction dated 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 directly owns 27,378 shares of the company’s stock, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. New Wave Wealth Advisors LLC bought a new position in Tenet Healthcare in the 4th quarter valued at about $343,000. Swedbank AB increased its holdings in shares of Tenet Healthcare by 100.0% during the fourth quarter. Swedbank AB now owns 40,000 shares of the company’s stock worth $5,049,000 after purchasing an additional 20,000 shares during the period. Signet Financial Management LLC bought a new position in shares of Tenet Healthcare during the fourth quarter worth approximately $1,526,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Tenet Healthcare during the fourth quarter worth approximately $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Tenet Healthcare during the fourth quarter worth approximately $5,892,000. 95.44% of the stock is owned by institutional investors.

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.