Mizuho Increases Tenet Healthcare (NYSE:THC) Price Target to $80.00

Tenet Healthcare (NYSE:THCGet Rating) had its price target increased by equities researchers at Mizuho from $63.00 to $80.00 in a research note issued on Tuesday, The Fly reports. The firm presently has a “maintains” rating on the stock. Mizuho’s price objective indicates a potential upside of 21.32% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Raymond James reiterated a “maintains” rating on shares of Tenet Healthcare in a research note on Tuesday, July 26th. StockNews.com downgraded Tenet Healthcare from a “buy” rating to a “hold” rating in a report on Saturday, July 30th. Barclays raised their price objective on Tenet Healthcare from $99.00 to $104.00 and gave the stock an “overweight” rating in a research note on Friday, April 22nd. Loop Capital started coverage on Tenet Healthcare in a report on Thursday, June 16th. They set a “buy” rating and a $80.00 price target for the company. Finally, UBS Group cut their price target on Tenet Healthcare from $113.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.06.

Tenet Healthcare Trading Up 1.6 %

THC opened at $65.94 on Tuesday. The stock has a market capitalization of $7.10 billion, a PE ratio of 8.19, a PEG ratio of 1.27 and a beta of 2.43. The firm has a 50-day moving average price of $59.25 and a two-hundred day moving average price of $72.84. The company has a current ratio of 1.39, a quick ratio of 1.30 and a debt-to-equity ratio of 7.07. Tenet Healthcare has a 1-year low of $50.37 and a 1-year high of $92.65.

Tenet Healthcare (NYSE:THCGet Rating) last released its quarterly earnings results on Thursday, July 21st. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.40 by $0.10. Tenet Healthcare had a net margin of 4.58% and a return on equity of 45.10%. During the same period in the prior year, the firm earned $1.59 EPS. As a group, equities analysts anticipate that Tenet Healthcare will post 6.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard W. Fisher sold 7,439 shares of Tenet Healthcare stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $62.92, for a total value of $468,061.88. Following the completion of the sale, the director now owns 34,362 shares of the company’s stock, valued at approximately $2,162,057.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tenet Healthcare

Several large investors have recently added to or reduced their stakes in THC. Washington Trust Advisors Inc. purchased a new position in Tenet Healthcare during the 1st quarter valued at about $34,000. Parkside Financial Bank & Trust grew its holdings in Tenet Healthcare by 1,063.9% during the 1st quarter. Parkside Financial Bank & Trust now owns 419 shares of the company’s stock valued at $36,000 after buying an additional 383 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Tenet Healthcare during the 1st quarter valued at about $36,000. Fifth Third Bancorp grew its holdings in Tenet Healthcare by 33.5% during the 4th quarter. Fifth Third Bancorp now owns 629 shares of the company’s stock valued at $51,000 after buying an additional 158 shares in the last quarter. Finally, Covestor Ltd purchased a new position in Tenet Healthcare during the 4th quarter valued at about $64,000. Hedge funds and other institutional investors own 95.41% of the company’s stock.

About Tenet Healthcare

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Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

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