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

Tenet Healthcare Corporation (NYSE:THC) has been given a consensus recommendation of “Moderate Buy” by the twenty ratings firms that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $233.8125.

Several brokerages recently issued reports on THC. Guggenheim raised their target price on Tenet Healthcare from $238.00 to $257.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $247.00 price objective on shares of Tenet Healthcare in a research note on Thursday, December 18th. Weiss Ratings raised shares of Tenet Healthcare from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. JPMorgan Chase & Co. increased their price objective 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. Finally, Wall Street Zen upgraded Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a report on Saturday.

Tenet Healthcare Stock Down 0.5%

NYSE:THC opened at $188.36 on Thursday. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.71 and a quick ratio of 1.64. Tenet Healthcare has a one year low of $109.82 and a one year high of $222.82. The firm’s 50 day simple moving average is $200.36 and its 200 day simple moving average is $192.25. The company has a market cap of $16.55 billion, a PE ratio of 12.91, a P/E/G ratio of 0.81 and a beta of 1.41.

Insider Activity

In related news, insider R. Scott Ramsey sold 13,322 shares of the company’s stock in a transaction that occurred on 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 filing with the SEC, which is available through the SEC website. Also, Director Tammy Romo sold 645 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $205.20, for a total value of $132,354.00. Following the transaction, the director directly owned 34,866 shares in the company, valued at $7,154,503.20. The trade was a 1.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,145 shares of company stock worth $3,294,919 in the last quarter. 0.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tenet Healthcare

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Triumph Capital Management purchased a new stake in shares of Tenet Healthcare in the third quarter worth approximately $25,000. Activest Wealth Management purchased a new position in Tenet Healthcare during the 4th quarter worth $26,000. William B. Walkup & Associates Inc. purchased a new stake in shares of Tenet Healthcare in the third quarter valued at about $32,000. Chung Wu Investment Group LLC bought a new stake in Tenet Healthcare in the 2nd quarter worth about $35,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Tenet Healthcare in the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Company Profile

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.