Tenet Healthcare Corp (NYSE:THC) Receives $30.64 Average Target Price from Analysts

Shares of Tenet Healthcare Corp (NYSE:THC) have earned an average recommendation of “Hold” from the fifteen analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $30.64.

A number of brokerages have commented on THC. Royal Bank of Canada restated a “hold” rating and issued a $26.00 target price on shares of Tenet Healthcare in a research note on Sunday, August 11th. Zacks Investment Research upgraded Tenet Healthcare from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Thursday, November 28th. ValuEngine downgraded Tenet Healthcare from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 5th. Goldman Sachs Group initiated coverage on Tenet Healthcare in a research report on Wednesday, August 14th. They set a “neutral” rating and a $28.00 price objective for the company. Finally, Mizuho restated a “buy” rating on shares of Tenet Healthcare in a research note on Thursday, November 7th.

Shares of Tenet Healthcare stock traded up $1.26 during trading hours on Monday, reaching $35.53. The company’s stock had a trading volume of 1,102,770 shares, compared to its average volume of 1,464,241. Tenet Healthcare has a one year low of $16.60 and a one year high of $35.63. The company’s 50 day simple moving average is $29.02 and its 200 day simple moving average is $23.18. The company has a debt-to-equity ratio of 30.38, a quick ratio of 1.14 and a current ratio of 1.22. The stock has a market cap of $3.69 billion, a P/E ratio of 19.10, a price-to-earnings-growth ratio of 0.78 and a beta of 1.78.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.30. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.46 billion. Tenet Healthcare had a negative net margin of 1.31% and a positive return on equity of 35.68%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.29 EPS. On average, sell-side analysts predict that Tenet Healthcare will post 2.66 earnings per share for the current fiscal year.

In other Tenet Healthcare news, EVP Audrey T. Andrews sold 65,360 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $30.59, for a total value of $1,999,362.40. Following the sale, the executive vice president now owns 56,602 shares in the company, valued at $1,731,455.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Glenview Capital Management, L purchased 221,875 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were acquired at an average cost of $20.50 per share, for a total transaction of $4,548,437.50. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Rehmann Capital Advisory Group raised its stake in Tenet Healthcare by 62.4% during the 2nd quarter. Rehmann Capital Advisory Group now owns 1,601 shares of the company’s stock valued at $33,000 after acquiring an additional 615 shares in the last quarter. Quadrant Capital Group LLC boosted its position in Tenet Healthcare by 152.6% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,546 shares of the company’s stock worth $33,000 after acquiring an additional 934 shares during the period. KBC Group NV acquired a new position in Tenet Healthcare during the 2nd quarter worth $53,000. LS Investment Advisors LLC grew its stake in shares of Tenet Healthcare by 52.7% in the third quarter. LS Investment Advisors LLC now owns 2,552 shares of the company’s stock worth $56,000 after purchasing an additional 881 shares in the last quarter. Finally, Financial Architects Inc grew its stake in shares of Tenet Healthcare by 41.6% in the third quarter. Financial Architects Inc now owns 2,775 shares of the company’s stock worth $61,000 after purchasing an additional 815 shares in the last quarter. 99.16% of the stock is owned by institutional investors and hedge funds.

About Tenet Healthcare

Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

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Analyst Recommendations for Tenet Healthcare (NYSE:THC)

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