Tenet Healthcare (NYSE:THC) Price Target Raised to $154.00 at The Goldman Sachs Group

Tenet Healthcare (NYSE:THC) had its price target boosted by The Goldman Sachs Group from $134.00 to $154.00 in a research report report published on Monday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts have also commented on THC. Royal Bank of Canada increased their price objective on Tenet Healthcare from $183.00 to $189.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Morgan Stanley upped their price objective on shares of Tenet Healthcare from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday. TD Cowen began coverage on shares of Tenet Healthcare in a research note on Wednesday, February 26th. They issued a “buy” rating and a $175.00 target price for the company. Baird R W lowered Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Finally, StockNews.com upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tenet Healthcare presently has an average rating of “Moderate Buy” and a consensus target price of $173.69.

Tenet Healthcare Price Performance

Tenet Healthcare stock opened at $149.01 on Monday. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The firm’s 50-day simple moving average is $127.44 and its 200 day simple moving average is $136.00. Tenet Healthcare has a 52 week low of $109.82 and a 52 week high of $171.20. The firm has a market capitalization of $13.84 billion, a PE ratio of 4.62, a P/E/G ratio of 1.02 and a beta of 1.63.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, beating the consensus estimate of $3.11 by $1.25. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.15 billion. During the same period in the prior year, the business earned $3.22 earnings per share. The company’s quarterly revenue was down 2.5% on a year-over-year basis. On average, equities research analysts predict that Tenet Healthcare will post 12.24 EPS for the current fiscal year.

Insider Activity

In related news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the sale, the director now directly owns 27,378 shares in the company, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its position in Tenet Healthcare by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company’s stock valued at $268,591,000 after acquiring an additional 71,454 shares in the last quarter. Norges Bank purchased a new stake in Tenet Healthcare during the 4th quarter worth $190,819,000. Dimensional Fund Advisors LP lifted its holdings in Tenet Healthcare by 22.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company’s stock worth $188,524,000 after buying an additional 272,906 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Tenet Healthcare by 20.8% during the fourth quarter. AQR Capital Management LLC now owns 872,117 shares of the company’s stock valued at $110,087,000 after acquiring an additional 150,361 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Tenet Healthcare by 22.0% during the fourth quarter. Northern Trust Corp now owns 848,049 shares of the company’s stock worth $107,049,000 after acquiring an additional 152,671 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

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.