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

Tenet Healthcare (NYSE:THCGet Rating) had its price objective increased by Mizuho from $63.00 to $80.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Tenet Healthcare from $110.00 to $90.00 and set a buy rating on the stock in a research report on Thursday, July 7th. Barclays lifted their target price on shares of Tenet Healthcare from $99.00 to $104.00 and gave the stock an overweight rating in a research note on Friday, April 22nd. Royal Bank of Canada boosted their price objective on shares of Tenet Healthcare from $89.00 to $104.00 and gave the company an outperform rating in a research note on Friday, April 22nd. Stephens boosted their price objective on shares of Tenet Healthcare to $73.00 in a research note on Monday, July 25th. Finally, SVB Leerink boosted their price objective on shares of Tenet Healthcare from $68.00 to $88.00 and gave the company an outperform rating in a research note on Monday, July 25th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $92.38.

Tenet Healthcare Price Performance

THC stock opened at $64.07 on Tuesday. The company has a fifty day moving average price of $59.23 and a 200-day moving average price of $72.73. The company has a market capitalization of $6.91 billion, a P/E ratio of 7.96, a PEG ratio of 1.26 and a beta of 2.43. Tenet Healthcare has a 52-week low of $50.37 and a 52-week high of $92.65. The company has a debt-to-equity ratio of 7.07, a quick ratio of 1.30 and a current ratio of 1.39.

Tenet Healthcare (NYSE:THCGet Rating) last posted its quarterly earnings results on Thursday, July 21st. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates 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 previous year, the business earned $1.59 earnings per share. As a group, equities analysts expect that Tenet Healthcare will post 6.46 EPS for the current year.

Insider Transactions at Tenet Healthcare

In other news, Director Richard W. Fisher sold 7,439 shares of the stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $62.92, for a total value of $468,061.88. Following the transaction, the director now owns 34,362 shares in the company, valued at approximately $2,162,057.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. bought a new stake in Tenet Healthcare during the 1st quarter worth approximately $34,000. Parkside Financial Bank & Trust raised its stake in Tenet Healthcare by 1,063.9% during the 1st quarter. Parkside Financial Bank & Trust now owns 419 shares of the company’s stock worth $36,000 after acquiring an additional 383 shares during the period. Lazard Asset Management LLC bought a new stake in Tenet Healthcare during the 1st quarter worth approximately $36,000. Fifth Third Bancorp raised its stake in Tenet Healthcare by 33.5% during the 4th quarter. Fifth Third Bancorp now owns 629 shares of the company’s stock worth $51,000 after acquiring an additional 158 shares during the period. Finally, Covestor Ltd purchased a new stake in Tenet Healthcare during the 4th quarter valued at approximately $64,000. Institutional investors own 95.41% of the company’s stock.

Tenet Healthcare Company Profile

(Get Rating)

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.

See Also

Analyst Recommendations for Tenet Healthcare (NYSE:THC)

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