Analysts Set Tenet Healthcare Corporation (NYSE:THC) PT at $233.81

Shares of Tenet Healthcare Corporation (NYSE:THC) have earned a consensus recommendation of “Moderate Buy” from the twenty ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $233.8125.

Several research firms have recently weighed in on THC. UBS Group boosted their price target on Tenet Healthcare from $238.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Barclays boosted their target price on Tenet Healthcare from $229.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, November 21st. Cantor Fitzgerald raised their price target on shares of Tenet Healthcare from $190.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Weiss Ratings upgraded shares of Tenet Healthcare from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Tenet Healthcare from $200.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th.

Insider Activity at Tenet Healthcare

In other news, insider R. Scott Ramsey sold 13,322 shares of Tenet Healthcare stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $205.11, for a total transaction of $2,732,475.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tammy Romo sold 645 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $205.20, for a total transaction of $132,354.00. Following the completion of the sale, the director directly owned 34,866 shares of the company’s stock, valued at $7,154,503.20. This represents a 1.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 43,000 shares of company stock worth $8,725,996. 0.81% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tenet Healthcare

A number of hedge funds have recently made changes to their positions in the business. AlphaQuest LLC increased its position in Tenet Healthcare by 230.8% in the second quarter. AlphaQuest LLC now owns 1,763 shares of the company’s stock worth $310,000 after purchasing an additional 1,230 shares during the last quarter. 111 Capital purchased a new position in shares of Tenet Healthcare during the second quarter valued at approximately $244,000. Cerity Partners LLC boosted its stake in shares of Tenet Healthcare by 10.4% during the second quarter. Cerity Partners LLC now owns 120,623 shares of the company’s stock valued at $21,230,000 after purchasing an additional 11,395 shares during the period. Winnow Wealth LLC purchased a new stake in shares of Tenet Healthcare in the third quarter valued at approximately $1,129,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Tenet Healthcare in the third quarter worth about $1,648,000. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Down 0.0%

Shares of Tenet Healthcare stock opened at $189.48 on Thursday. The company has a 50-day simple moving average of $200.90 and a two-hundred day simple moving average of $192.03. The stock has a market capitalization of $16.65 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 0.81 and a beta of 1.41. Tenet Healthcare has a 52-week low of $109.82 and a 52-week high of $222.82. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.64 and a current ratio of 1.71.

About Tenet Healthcare

Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.