Brokerages Set Tenet Healthcare Co. (NYSE:THC) PT at $69.47

Shares of Tenet Healthcare Co. (NYSE:THC – Get Rating) have been assigned a consensus recommendation of “Buy” from the seventeen ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $69.47.

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Tenet Healthcare from $48.00 to $65.00 and gave the company a “buy” rating in a report on Friday, February 10th. Stephens boosted their price objective on shares of Tenet Healthcare from $60.00 to $64.00 and gave the company an “equal weight” rating in a report on Wednesday, February 22nd. Barclays boosted their price objective on shares of Tenet Healthcare from $67.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, February 14th. Royal Bank of Canada boosted their price objective on shares of Tenet Healthcare from $69.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, February 10th. Finally, Truist Financial boosted their target price on shares of Tenet Healthcare from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, February 10th.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director Tammy Romo sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $60.95, for a total transaction of $426,650.00. Following the completion of the transaction, the director now directly owns 57,598 shares of the company’s stock, valued at approximately $3,510,598.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Thomas W. Arnst sold 825 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $61.00, for a total transaction of $50,325.00. Following the sale, the executive vice president now owns 22,778 shares of the company’s stock, valued at approximately $1,389,458. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tammy Romo sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $60.95, for a total transaction of $426,650.00. Following the sale, the director now directly owns 57,598 shares in the company, valued at approximately $3,510,598.10. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tenet Healthcare

A number of institutional investors have recently added to or reduced their stakes in THC. Parkside Financial Bank & Trust boosted its stake in Tenet Healthcare by 1,063.9% during the 1st quarter. Parkside Financial Bank & Trust now owns 419 shares of the company’s stock worth $36,000 after purchasing an additional 383 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Tenet Healthcare during the 1st quarter worth $36,000. Beacon Capital Management LLC acquired a new stake in Tenet Healthcare during the 4th quarter worth $27,000. Wipfli Financial Advisors LLC purchased a new position in shares of Tenet Healthcare during the 3rd quarter worth $31,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Tenet Healthcare by 46.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 629 shares of the company’s stock worth $31,000 after acquiring an additional 199 shares during the period. Institutional investors and hedge funds own 98.14% of the company’s stock.

Tenet Healthcare Stock Down 3.2 %

Shares of Tenet Healthcare stock opened at $55.06 on Thursday. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.25 and a current ratio of 1.34. The stock has a market capitalization of $5.63 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 2.95 and a beta of 2.14. Tenet Healthcare has a 52-week low of $36.69 and a 52-week high of $92.65. The company has a 50-day simple moving average of $55.84 and a two-hundred day simple moving average of $51.38.

Tenet Healthcare (NYSE:THC – Get Rating) last issued its earnings results 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 business had revenue of $4.99 billion during the quarter, compared to analysts’ expectations of $4.94 billion. Tenet Healthcare had a net margin of 2.14% and a return on equity of 32.88%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.70 earnings per share. On average, analysts anticipate that Tenet Healthcare will post 5.15 EPS for the current fiscal year.

About Tenet Healthcare

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Tenet Healthcare Corp. engages in the provision of healthcare services. It operates through the following segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The Hospital Operations and Other segment is composed of acute care hospitals, ancillary outpatient facilities, urgent care centers, micro hospitals and physician practices.