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.
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.
Featured Article: NASDAQ Stock Market Explained
Receive News & Ratings for Tenet Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenet Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.