Tenet Healthcare Corporation (NYSE:THC) Stock Has Consensus Target Price of $280.16

Tenet Healthcare Corporation (NYSE:THC) has received an average rating of “Moderate Buy” from the twenty-one brokerages that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $285.89.

THC has been the subject of a number of research analyst reports. Barclays increased their target price on shares of Tenet Healthcare from $240.00 to $271.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Mizuho set a $305.00 price target on shares of Tenet Healthcare in a research report on Monday. Weiss Ratings upgraded shares of Tenet Healthcare from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of Tenet Healthcare in a research note on Friday, October 2nd. Finally, UBS Group lifted their target price on shares of Tenet Healthcare from $288.00 to $308.00 and gave the company a “buy” rating in a report on Monday, July 27th.

Tenet Healthcare Price Performance

THC stock opened at $268.89 on Friday. The company has a market cap of $21.65 billion, a PE ratio of 7.80, a price-to-earnings-growth ratio of 1.02 and a beta of 1.20. The company has a current ratio of 1.41, a quick ratio of 1.35 and a debt-to-equity ratio of 2.00. The stock has a 50-day moving average price of $264.61 and a two-hundred day moving average price of $220.69. Tenet Healthcare has a 12-month low of $157.58 and a 12-month high of $283.05.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Thursday, October 29th. The company reported $6.64 EPS for the quarter, topping analysts’ consensus estimates of $4.68 by $1.96. The company had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $5.49 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 10.27%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business posted $3.70 EPS. As a group, research analysts predict that Tenet Healthcare will post 21.98 EPS for the current year.

Insider Buying and Selling

In other Tenet Healthcare news, Director J. Robert Kerrey sold 12,010 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $263.72, for a total transaction of $3,167,277.20. Following the transaction, the director owned 4,794 shares in the company, valued at $1,264,273.68. The trade was a 71.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lisa Foo sold 24,000 shares of the company’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $266.32, for a total value of $6,391,680.00. Following the completion of the sale, the executive vice president directly owned 8,053 shares of the company’s stock, valued at $2,144,674.96. The trade was a 74.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 106,484 shares of company stock valued at $28,898,063 over the last ninety days. Insiders own 0.97% of the company’s stock.

Institutional Trading of Tenet Healthcare

Several large investors have recently bought and sold shares of the company. Heritage Family Offices LLP acquired a new position in shares of Tenet Healthcare during the third quarter worth $98,000. Syverson Strege & Co acquired a new stake in Tenet Healthcare during the 3rd quarter valued at $203,000. Kestra Advisory Services LLC grew its holdings in Tenet Healthcare by 211.3% during the 3rd quarter. Kestra Advisory Services LLC now owns 18,898 shares of the company’s stock valued at $4,830,000 after purchasing an additional 12,827 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Tenet Healthcare by 13.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 5,232 shares of the company’s stock worth $1,337,000 after buying an additional 626 shares during the period. Finally, Kestra Private Wealth Services LLC acquired a new position in shares of Tenet Healthcare in the third quarter worth about $232,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

About Tenet Healthcare

Tenet Healthcare Corp. (NYSE: THC) is a diversified healthcare services company headquartered in Dallas, Texas. Through its hospital operations and outpatient platforms, the company provides a range of medical services to patients across the United States.

Tenet operates acute care and specialty hospitals, ambulatory surgery centers, imaging facilities and other outpatient care sites. Its United Surgical Partners International subsidiary is a major provider of ambulatory surgery services and partners with physicians and health systems.