Tenet Healthcare (NYSE:THC) PT Raised to $122.00

Tenet Healthcare (NYSE:THCGet Free Report) had its price target boosted by analysts at Stephens from $95.00 to $122.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Stephens’ price objective would suggest a potential upside of 2.56% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. TheStreet raised shares of Tenet Healthcare from a “c+” rating to a “b-” rating in a research report on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft boosted their price target on Tenet Healthcare from $100.00 to $126.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Wolfe Research raised shares of Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 target price for the company in a research note on Wednesday, March 27th. Barclays began coverage on shares of Tenet Healthcare in a research report on Wednesday, March 6th. They set an “overweight” rating and a $113.00 price target on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $104.00 price objective on shares of Tenet Healthcare in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $113.19.

Read Our Latest Stock Analysis on Tenet Healthcare

Tenet Healthcare Price Performance

Shares of NYSE THC opened at $118.96 on Wednesday. The company has a fifty day moving average price of $99.29 and a 200 day moving average price of $81.68. Tenet Healthcare has a 1-year low of $51.04 and a 1-year high of $120.03. The firm has a market cap of $11.80 billion, a PE ratio of 4.62, a PEG ratio of 2.55 and a beta of 2.09. The company has a current ratio of 1.44, a quick ratio of 1.42 and a debt-to-equity ratio of 2.58.

Tenet Healthcare (NYSE:THCGet Free Report) last released its earnings results on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, beating the consensus estimate of $1.45 by $1.77. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The firm had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.15 billion. During the same quarter in the previous year, the business posted $1.42 EPS. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Research analysts predict that Tenet Healthcare will post 8.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director Richard W. Fisher sold 2,100 shares of Tenet Healthcare stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total value of $185,241.00. Following the completion of the sale, the director now owns 20,127 shares in the company, valued at approximately $1,775,402.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Richard J. Mark sold 14,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the sale, the director now owns 33,303 shares in the company, valued at approximately $3,296,330.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard W. Fisher sold 2,100 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total value of $185,241.00. Following the sale, the director now owns 20,127 shares of the company’s stock, valued at $1,775,402.67. The disclosure for this sale can be found here. Insiders have sold a total of 51,268 shares of company stock valued at $4,944,810 in the last ninety days. 0.93% of the stock is currently owned by corporate insiders.

Institutional Trading of Tenet Healthcare

Large investors have recently bought and sold shares of the business. Nordea Investment Management AB increased its position in Tenet Healthcare by 324.3% during the 4th quarter. Nordea Investment Management AB now owns 40,066 shares of the company’s stock worth $3,030,000 after purchasing an additional 30,623 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in Tenet Healthcare by 37.3% in the 3rd quarter. First Eagle Investment Management LLC now owns 176,404 shares of the company’s stock valued at $11,623,000 after buying an additional 47,952 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in Tenet Healthcare by 6.0% during the 4th quarter. Bleakley Financial Group LLC now owns 91,159 shares of the company’s stock worth $6,889,000 after acquiring an additional 5,198 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Tenet Healthcare by 0.6% during the third quarter. Vanguard Group Inc. now owns 10,937,483 shares of the company’s stock valued at $720,671,000 after acquiring an additional 63,253 shares during the last quarter. Finally, TD Asset Management Inc acquired a new position in shares of Tenet Healthcare during the third quarter worth $1,146,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Tenet Healthcare (NYSE:THC)

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