Mizuho Reaffirms Buy Rating for Tenet Healthcare (NYSE:THC)

Mizuho reaffirmed their buy rating on shares of Tenet Healthcare (NYSE:THC) in a report published on Wednesday, Benzinga reports. Mizuho currently has a $130.00 target price on the stock, up from their prior target price of $118.00.

THC has been the subject of a number of other research reports. TheStreet upgraded Tenet Healthcare from a c+ rating to a b- rating in a report on Tuesday, February 6th. Cantor Fitzgerald reaffirmed an overweight rating and set a $104.00 price target on shares of Tenet Healthcare in a research note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft raised their target price on Tenet Healthcare from $100.00 to $126.00 and gave the company a buy rating in a research note on Friday, April 12th. Barclays assumed coverage on Tenet Healthcare in a research note on Wednesday, March 6th. They set an overweight rating and a $113.00 price objective for the company. Finally, Wells Fargo & Company raised their price target on shares of Tenet Healthcare from $105.00 to $115.00 and gave the stock an overweight rating in a research report on Thursday, March 28th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $113.19.

Tenet Healthcare Stock Up 1.1 %

Shares of THC opened at $120.28 on Wednesday. The firm has a market cap of $11.75 billion, a PE ratio of 4.67, a price-to-earnings-growth ratio of 2.63 and a beta of 2.09. The company has a quick ratio of 1.42, a current ratio of 1.44 and a debt-to-equity ratio of 2.58. The company’s fifty day moving average is $99.82 and its two-hundred day moving average is $81.94. Tenet Healthcare has a fifty-two week low of $51.04 and a fifty-two week high of $121.72.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $1.77. The company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. Tenet Healthcare’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.42 earnings per share. Analysts forecast that Tenet Healthcare will post 8.89 earnings per share for the current year.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director Richard W. Fisher sold 2,100 shares of Tenet Healthcare stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the sale, the director now owns 20,127 shares of the company’s stock, valued at approximately $1,775,402.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Richard W. Fisher sold 2,100 shares of the company’s stock in a transaction that occurred on 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 directly owns 20,127 shares of the company’s stock, valued at approximately $1,775,402.67. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard J. Mark sold 14,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $98.98, for a total value of $1,385,720.00. Following the completion of the sale, the director now owns 33,303 shares of the company’s stock, valued at $3,296,330.94. The disclosure for this sale can be found here. Insiders have sold a total of 59,416 shares of company stock worth $5,890,793 in the last ninety days. 0.93% of the stock is owned by insiders.

Hedge Funds Weigh In On Tenet Healthcare

Large investors have recently made changes to their positions in the business. Rise Advisors LLC acquired a new stake in Tenet Healthcare during the first quarter valued at approximately $29,000. GAMMA Investing LLC acquired a new stake in shares of Tenet Healthcare during the 4th quarter valued at $52,000. Sunbelt Securities Inc. acquired a new position in shares of Tenet Healthcare in the 3rd quarter worth $67,000. FinTrust Capital Advisors LLC raised its position in shares of Tenet Healthcare by 108.6% during the fourth quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock worth $68,000 after purchasing an additional 467 shares during the period. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Tenet Healthcare in the 1st quarter valued at $78,000. Institutional investors own 95.44% of the company’s stock.

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.