Barclays Increases Tenet Healthcare (NYSE:THC) Price Target to $147.00

Tenet Healthcare (NYSE:THC) had its target price hoisted by Barclays from $113.00 to $147.00 in a research report released on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada raised their target price on shares of Tenet Healthcare from $109.00 to $136.00 and gave the company an outperform rating in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft upped their target price on Tenet Healthcare from $100.00 to $126.00 and gave the company a buy rating in a research report on Friday, April 12th. Cantor Fitzgerald reissued an overweight rating and issued a $104.00 price target on shares of Tenet Healthcare in a report on Wednesday, April 10th. TheStreet upgraded shares of Tenet Healthcare from a c+ rating to a b- rating in a research note on Tuesday, February 6th. Finally, Wolfe Research raised shares of 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. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of Buy and a consensus price target of $113.19.

Tenet Healthcare Trading Up 1.1 %

NYSE:THC opened at $120.28 on Thursday. The firm has a 50-day simple moving average of $100.37 and a 200-day simple moving average of $82.58. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.42 and a current ratio of 1.44. The firm has a market cap of $11.75 billion, a P/E ratio of 4.67, a P/E/G ratio of 1.22 and a beta of 2.09. Tenet Healthcare has a one year low of $51.04 and a one year high of $121.72.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $5.15 billion. During the same period in the prior year, the business posted $1.42 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Equities analysts anticipate that Tenet Healthcare will post 8.73 EPS for the current fiscal year.

Insider Activity

In other Tenet Healthcare news, EVP Thomas W. Arnst sold 8,148 shares of Tenet Healthcare stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $116.10, for a total value of $945,982.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tenet Healthcare news, Director Richard W. Fisher sold 2,100 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total transaction of $185,241.00. Following the completion of the transaction, the director now directly owns 20,127 shares in the company, valued at $1,775,402.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas W. Arnst sold 8,148 shares of Tenet Healthcare stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $116.10, for a total transaction of $945,982.80. The disclosure for this sale can be found here. Insiders sold a total of 59,416 shares of company stock valued at $5,890,793 in the last three months. 0.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tenet Healthcare

Institutional investors have recently bought and sold shares of the company. Nordea Investment Management AB lifted its position in shares of Tenet Healthcare by 324.3% in the fourth quarter. Nordea Investment Management AB now owns 40,066 shares of the company’s stock valued at $3,030,000 after acquiring an additional 30,623 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in Tenet Healthcare by 37.3% during the 3rd quarter. First Eagle Investment Management LLC now owns 176,404 shares of the company’s stock worth $11,623,000 after purchasing an additional 47,952 shares during the last quarter. Levin Capital Strategies L.P. purchased a new stake in shares of Tenet Healthcare during the fourth quarter worth $1,684,000. Bleakley Financial Group LLC lifted its stake in shares of Tenet Healthcare by 6.0% in the fourth quarter. Bleakley Financial Group LLC now owns 91,159 shares of the company’s stock worth $6,889,000 after buying an additional 5,198 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Tenet Healthcare by 0.6% during the 3rd 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 in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

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.