Brokerages Set Tenet Healthcare Co. (NYSE:THC) Price Target at $166.41

Tenet Healthcare Co. (NYSE:THC) has been given an average recommendation of “Moderate Buy” by the nineteen ratings firms that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $166.33.

Several research analysts have recently commented on the stock. Guggenheim initiated coverage on shares of Tenet Healthcare in a research note on Wednesday. They set a “buy” rating and a $165.00 price target on the stock. Morgan Stanley began coverage on Tenet Healthcare in a report on Wednesday, March 26th. They set an “overweight” rating and a $165.00 target price on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and set a $175.00 price objective on shares of Tenet Healthcare in a report on Tuesday, December 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $177.00 target price on shares of Tenet Healthcare in a research report on Thursday, February 13th. Finally, StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th.

Insiders Place Their Bets

In other news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the transaction, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. New Wave Wealth Advisors LLC bought a new stake in Tenet Healthcare during the fourth quarter worth about $343,000. Swedbank AB increased its holdings in Tenet Healthcare by 100.0% during the 4th quarter. Swedbank AB now owns 40,000 shares of the company’s stock valued at $5,049,000 after purchasing an additional 20,000 shares in the last quarter. Signet Financial Management LLC bought a new position in Tenet Healthcare in the 4th quarter valued at $1,526,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Tenet Healthcare during the fourth quarter worth $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Tenet Healthcare in the fourth quarter valued at about $5,892,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Trading Down 2.7 %

Tenet Healthcare stock opened at $127.59 on Friday. The stock has a market cap of $12.14 billion, a P/E ratio of 3.96, a P/E/G ratio of 1.02 and a beta of 1.77. Tenet Healthcare has a 12 month low of $90.03 and a 12 month high of $171.20. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The company’s fifty day simple moving average is $130.18 and its 200-day simple moving average is $139.91.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. As a group, sell-side analysts forecast that Tenet Healthcare will post 12.24 EPS for the current fiscal year.

About Tenet Healthcare

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