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

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

Several other research analysts also recently commented on the stock. UBS Group raised their price objective on shares of Tenet Healthcare from $137.00 to $150.00 and gave the stock a buy rating in a report on Wednesday. Cantor Fitzgerald reissued an overweight rating and set a $104.00 price objective on shares of Tenet Healthcare in a report on Wednesday, April 10th. Wells Fargo & Company upped their price target on Tenet Healthcare from $105.00 to $115.00 and gave the company an overweight rating in a research report on Thursday, March 28th. Wolfe Research upgraded shares of Tenet Healthcare from a peer perform rating to an outperform rating and set a $122.00 price objective for the company in a research report on Wednesday, March 27th. Finally, Stephens upped their price target on shares of Tenet Healthcare from $95.00 to $122.00 and gave the stock an equal weight rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Buy and a consensus price target of $113.19.

Tenet Healthcare Trading Up 1.1 %

Shares of THC stock opened at $120.28 on Thursday. The company has a 50 day moving average of $100.37 and a 200-day moving average of $82.40. Tenet Healthcare has a 12-month low of $51.04 and a 12-month high of $121.72. The firm has a market cap of $11.75 billion, a P/E ratio of 4.67, a PEG ratio of 1.20 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.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $5.15 billion. During the same quarter in the prior year, the firm earned $1.42 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. Sell-side analysts anticipate that Tenet Healthcare will post 8.73 earnings per share for the current year.

Insider Activity

In other news, Director Richard W. Fisher sold 2,100 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the transaction, the director now directly owns 20,127 shares of the company’s stock, valued at $1,775,402.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Richard W. Fisher sold 2,100 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 20,127 shares in the company, valued at approximately $1,775,402.67. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Thomas W. Arnst sold 8,148 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were 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. In the last 90 days, insiders sold 59,416 shares of company stock valued at $5,890,793. Corporate insiders own 0.93% of the company’s stock.

Institutional Trading of Tenet Healthcare

A number of institutional investors have recently modified their holdings of THC. Rise Advisors LLC purchased a new stake in Tenet Healthcare in the 1st quarter worth approximately $29,000. GAMMA Investing LLC purchased a new stake in Tenet Healthcare during the 4th quarter valued at $52,000. Sunbelt Securities Inc. purchased a new position in shares of Tenet Healthcare in the 3rd quarter worth $67,000. FinTrust Capital Advisors LLC increased its position 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 last quarter. Finally, Fidelis Capital Partners LLC bought a new position in Tenet Healthcare in the first quarter valued at about $78,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

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.