Tenet Healthcare (NYSE:THC) Price Target Raised to $150.00 at UBS Group

Tenet Healthcare (NYSE:THC) had its price objective increased by UBS Group from $137.00 to $150.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

THC has been the topic of several other research reports. Barclays began coverage on Tenet Healthcare in a report on Wednesday, March 6th. They issued an overweight rating and a $113.00 price target on the stock. Truist Financial reiterated a buy rating and issued a $130.00 price target (up previously from $120.00) on shares of Tenet Healthcare in a research report on Wednesday. Wolfe Research upgraded Tenet Healthcare from a peer perform rating to an outperform rating and set a $122.00 price objective on the stock in a report on Wednesday, March 27th. Mizuho reiterated a buy rating and issued a $130.00 target price (up from $118.00) on shares of Tenet Healthcare in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Tenet Healthcare from $100.00 to $126.00 and gave the company a buy rating in a research report on Friday, April 12th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Buy and an average price target of $113.19.

Tenet Healthcare Stock Up 1.1 %

THC stock opened at $120.28 on Wednesday. The firm’s 50-day moving average is $99.82 and its two-hundred day moving average is $81.94. The company has a current ratio of 1.44, a quick ratio of 1.42 and a debt-to-equity ratio of 2.58. The company has a market capitalization of $11.75 billion, a price-to-earnings ratio of 4.67, a price-to-earnings-growth ratio of 2.63 and a beta of 2.09. Tenet Healthcare has a 52 week low of $51.04 and a 52 week high of $121.72.

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

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, EVP Paola M. Arbour sold 18,168 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total value of $1,761,569.28. Following the completion of the sale, the executive vice president now directly owns 29,803 shares of the company’s stock, valued at $2,889,698.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Richard W. Fisher sold 2,100 shares of the business’s stock in a transaction 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 in the company, valued at $1,775,402.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Paola M. Arbour sold 18,168 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total transaction of $1,761,569.28. Following the completion of the transaction, the executive vice president now owns 29,803 shares in the company, valued at $2,889,698.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,416 shares of company stock valued at $5,890,793. 0.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tenet Healthcare

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rise Advisors LLC acquired a new position in shares of Tenet Healthcare during the first quarter worth approximately $29,000. GAMMA Investing LLC bought a new stake in Tenet Healthcare in the 4th quarter valued at $52,000. Sunbelt Securities Inc. acquired a new position in shares of Tenet Healthcare during the third quarter valued at about $67,000. FinTrust Capital Advisors LLC increased its stake in Tenet Healthcare by 108.6% during the fourth quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock valued at $68,000 after acquiring an additional 467 shares during the period. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Tenet Healthcare in the 1st quarter worth approximately $78,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Company Profile

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.