Tenet Healthcare (NYSE:THC) Upgraded by Wall Street Zen to “Buy” Rating

Tenet Healthcare (NYSE:THC) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Sunday.

A number of other equities analysts have also issued reports on the stock. Robert W. Baird reaffirmed a “neutral” rating and set a $137.00 target price (down previously from $153.00) on shares of Tenet Healthcare in a research report on Tuesday, April 15th. Bank of America increased their target price on Tenet Healthcare from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Barclays increased their price objective on Tenet Healthcare from $171.00 to $215.00 and gave the company an “overweight” rating in a report on Monday, June 2nd. TD Cowen began coverage on Tenet Healthcare in a report on Wednesday, February 26th. They set a “buy” rating and a $175.00 price target for the company. Finally, Wells Fargo & Company raised Tenet Healthcare from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $150.00 to $195.00 in a report on Thursday, May 29th. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $182.24.

Tenet Healthcare Trading Down 0.8%

Tenet Healthcare stock opened at $164.23 on Friday. The company has a market cap of $15.25 billion, a P/E ratio of 5.10, a PEG ratio of 1.02 and a beta of 1.65. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The firm’s 50-day moving average is $148.09 and its 200-day moving average is $137.62. Tenet Healthcare has a 1 year low of $109.82 and a 1 year high of $174.14.

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

Insider Activity

In related news, Director J Robert Kerrey sold 5,001 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $148.50, for a total transaction of $742,648.50. Following the sale, the director now owns 22,377 shares in the company, valued at $3,322,984.50. This represents a 18.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard W. Fisher sold 836 shares of the company’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $173.16, for a total transaction of $144,761.76. Following the completion of the transaction, the director now owns 11,292 shares of the company’s stock, valued at approximately $1,955,322.72. This trade represents a 6.89% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,121 shares of company stock worth $8,846,305. Corporate insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in THC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Tenet Healthcare in the 1st quarter valued at approximately $26,000. Wayfinding Financial LLC purchased a new stake in Tenet Healthcare in the 1st quarter worth approximately $28,000. SVB Wealth LLC purchased a new stake in Tenet Healthcare in the 1st quarter worth approximately $30,000. Colonial Trust Co SC lifted its position in Tenet Healthcare by 85.7% in the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company’s stock worth $31,000 after buying an additional 114 shares in the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new stake in Tenet Healthcare in the 1st quarter worth approximately $31,000. 95.44% of the stock is currently owned by institutional investors.

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.