Tenet Healthcare Co. (NYSE:THC – Get Rating) has been given an average recommendation of “Moderate Buy” by the eighteen brokerages that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $72.13.
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Several analysts have issued reports on the company. Truist Financial boosted their price objective on Tenet Healthcare from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, February 10th. SVB Leerink lowered their target price on Tenet Healthcare from $89.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 25th. Wells Fargo & Company lifted their target price on Tenet Healthcare from $48.00 to $59.00 and gave the company an “overweight” rating in a research note on Tuesday, January 3rd. UBS Group lifted their target price on Tenet Healthcare from $47.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, February 14th. Finally, Citigroup lowered their target price on Tenet Healthcare from $99.00 to $76.00 and set a “buy” rating on the stock in a research note on Tuesday, October 25th.
Insider Buying and Selling
In related news, Director Richard W. Fisher sold 9,817 shares of the business’s stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $43.86, for a total value of $430,573.62. Following the completion of the sale, the director now directly owns 24,545 shares in the company, valued at approximately $1,076,543.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company’s stock.
Institutional Investors Weigh In On Tenet Healthcare
Several institutional investors and hedge funds have recently added to or reduced their stakes in THC. Vanguard Group Inc. lifted its holdings in shares of Tenet Healthcare by 0.7% during the first quarter. Vanguard Group Inc. now owns 10,932,708 shares of the company’s stock worth $939,775,000 after buying an additional 77,543 shares during the last quarter. Glenview Capital Management LLC lifted its holdings in shares of Tenet Healthcare by 9.8% during the fourth quarter. Glenview Capital Management LLC now owns 8,896,111 shares of the company’s stock worth $434,041,000 after buying an additional 796,463 shares during the last quarter. FMR LLC lifted its holdings in shares of Tenet Healthcare by 30.6% during the second quarter. FMR LLC now owns 6,940,816 shares of the company’s stock worth $364,810,000 after buying an additional 1,625,431 shares during the last quarter. State Street Corp lifted its holdings in shares of Tenet Healthcare by 2.4% during the first quarter. State Street Corp now owns 3,377,944 shares of the company’s stock worth $290,368,000 after buying an additional 78,687 shares during the last quarter. Finally, Samlyn Capital LLC lifted its holdings in shares of Tenet Healthcare by 96.2% during the third quarter. Samlyn Capital LLC now owns 2,811,314 shares of the company’s stock worth $145,007,000 after buying an additional 1,378,162 shares during the last quarter. 98.14% of the stock is currently owned by institutional investors and hedge funds.
Tenet Healthcare Price Performance
NYSE THC opened at $61.36 on Friday. The stock’s 50-day moving average price is $51.65 and its two-hundred day moving average price is $52.20. The company has a current ratio of 1.34, a quick ratio of 1.25 and a debt-to-equity ratio of 6.07. The company has a market cap of $6.63 billion, a PE ratio of 16.54, a PEG ratio of 3.26 and a beta of 2.12. Tenet Healthcare has a 1 year low of $36.69 and a 1 year high of $92.65.
Tenet Healthcare (NYSE:THC – Get Rating) last posted its quarterly earnings data on Thursday, February 9th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.69. The firm had revenue of $4.99 billion for the quarter, compared to the consensus estimate of $4.94 billion. Tenet Healthcare had a return on equity of 32.88% and a net margin of 2.14%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.70 EPS. On average, analysts predict that Tenet Healthcare will post 5.27 EPS for the current year.
About Tenet Healthcare
Tenet Healthcare Corp. engages in the provision of health care services. It operates through the following segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The Hospital Operations and Other segment consists of acute care hospitals, ancillary outpatient facilities, urgent care centers, microhospitals and physician practices.
Further Reading
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