Tenet Healthcare (NYSE:THC) Lifted to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Tenet Healthcare (NYSE:THC) from a buy rating to a strong-buy rating in a research report report published on Thursday morning.

Several other brokerages have also weighed in on THC. TheStreet raised Tenet Healthcare from a c+ rating to a b- rating in a research report on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft raised their price objective on Tenet Healthcare from $100.00 to $126.00 and gave the company a buy rating in a research report on Friday, April 12th. Mizuho reissued a buy rating and issued a $130.00 price objective (up from $118.00) on shares of Tenet Healthcare in a research report on Wednesday. Cantor Fitzgerald reissued an overweight rating and issued a $104.00 price objective on shares of Tenet Healthcare in a research report on Wednesday, April 10th. Finally, Royal Bank of Canada raised their price objective on Tenet Healthcare from $109.00 to $136.00 and gave the company an outperform rating in a research report on Wednesday. One 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’s stock. According to MarketBeat.com, the company presently has an average rating of Buy and a consensus target price of $113.19.

Tenet Healthcare Trading Up 1.1 %

Shares of THC opened at $120.28 on Thursday. 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 firm has a market capitalization of $11.75 billion, a P/E ratio of 4.67, a price-to-earnings-growth ratio of 1.22 and a beta of 2.09. The stock’s fifty day simple moving average is $100.37 and its 200 day simple moving average is $82.40. Tenet Healthcare has a twelve month low of $51.04 and a twelve month high of $121.72.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share for the quarter, topping the consensus estimate of $1.45 by $1.77. The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the company posted $1.42 EPS. On average, equities research analysts forecast that Tenet Healthcare will post 8.73 earnings per share for the current year.

Insider Transactions at Tenet Healthcare

In related news, Director Richard W. Fisher sold 2,100 shares of Tenet Healthcare stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total value 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Richard W. Fisher sold 2,100 shares of Tenet Healthcare stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total value 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas W. Arnst sold 8,148 shares of Tenet Healthcare stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total value of $945,982.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,416 shares of company stock valued at $5,890,793. 0.93% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tenet Healthcare

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rise Advisors LLC acquired a new position in Tenet Healthcare in the first quarter valued at approximately $29,000. GAMMA Investing LLC acquired a new position in shares of Tenet Healthcare during the fourth quarter worth approximately $52,000. Fidelis Capital Partners LLC acquired a new position in shares of Tenet Healthcare during the first quarter worth approximately $78,000. FinTrust Capital Advisors LLC boosted 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 buying an additional 467 shares during the period. Finally, Sunbelt Securities Inc. bought a new position in shares of Tenet Healthcare in the third quarter valued at $67,000. 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.