Tenet Healthcare (NYSE:THC) Sets New 1-Year High at $105.03

Tenet Healthcare Co. (NYSE:THCGet Free Report)’s share price hit a new 52-week high on Wednesday . The company traded as high as $105.03 and last traded at $105.03, with a volume of 11802 shares trading hands. The stock had previously closed at $102.32.

Analyst Ratings Changes

Several equities analysts have recently weighed in on THC shares. Royal Bank of Canada raised their target price on Tenet Healthcare from $97.00 to $109.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Wells Fargo & Company upped their target price on shares of Tenet Healthcare from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday. Cantor Fitzgerald reissued an “overweight” rating and issued a $104.00 price target on shares of Tenet Healthcare in a research note on Tuesday, March 5th. StockNews.com upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Saturday, December 16th. Finally, Mizuho increased their price target on Tenet Healthcare from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, February 9th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $97.56.

View Our Latest Report on THC

Tenet Healthcare Stock Up 0.2 %

The company has a debt-to-equity ratio of 4.77, a quick ratio of 1.42 and a current ratio of 1.51. The firm has a market capitalization of $10.51 billion, a PE ratio of 18.41, a P/E/G ratio of 3.21 and a beta of 2.07. The business’s 50 day moving average price is $92.61 and its 200-day moving average price is $75.71.

Tenet Healthcare (NYSE:THCGet Free Report) last posted its earnings results on Thursday, February 8th. The company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $1.10. The firm had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.28 billion. Tenet Healthcare had a return on equity of 26.34% and a net margin of 2.97%. Tenet Healthcare’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.96 EPS. As a group, equities research analysts forecast that Tenet Healthcare Co. will post 6.09 earnings per share for the current year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, EVP Paola M. Arbour sold 18,168 shares of Tenet Healthcare stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total transaction 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 approximately $2,889,698.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Tenet Healthcare news, EVP Paola M. Arbour sold 18,168 shares of the firm’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 transaction of $1,761,569.28. Following the sale, the executive vice president now owns 29,803 shares of the company’s stock, valued at $2,889,698.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard J. Mark sold 14,000 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 33,303 shares in the company, valued at $3,296,330.94. The disclosure for this sale can be found here. In the last three months, insiders sold 51,268 shares of company stock valued at $4,944,810. Insiders own 1.30% of the company’s stock.

Institutional Trading of Tenet Healthcare

A number of large investors have recently made changes to their positions in THC. BlackRock Inc. increased its holdings in shares of Tenet Healthcare by 14.7% in the 1st quarter. BlackRock Inc. now owns 11,639,373 shares of the company’s stock valued at $691,612,000 after acquiring an additional 1,491,799 shares during the period. Vanguard Group Inc. raised its holdings in shares of Tenet Healthcare by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 11,110,396 shares of the company’s stock valued at $839,613,000 after buying an additional 172,913 shares during the last quarter. Glenview Capital Management LLC increased its position in Tenet Healthcare by 12.8% in the 4th quarter. Glenview Capital Management LLC now owns 7,742,322 shares of the company’s stock valued at $585,087,000 after acquiring an additional 877,180 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Tenet Healthcare by 34.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,124,316 shares of the company’s stock worth $538,386,000 after acquiring an additional 1,810,993 shares during the period. Finally, State Street Corp increased its holdings in shares of Tenet Healthcare by 2.4% in the first quarter. State Street Corp now owns 3,377,944 shares of the company’s stock valued at $290,368,000 after purchasing an additional 78,687 shares during the period. 95.44% of the stock is owned by institutional investors and hedge funds.

About Tenet Healthcare

(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.

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