Tenet Healthcare (NYSE:THC) Sets New 1-Year High at $74.10

Tenet Healthcare Co. (NYSE:THC – Get Rating) reached a new 52-week high on Friday . The company traded as high as $74.10 and last traded at $73.57, with a volume of 113518 shares trading hands. The stock had previously closed at $73.17.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group upped their target price on shares of Tenet Healthcare from $47.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, February 14th. Barclays boosted their price target on shares of Tenet Healthcare from $70.00 to $105.00 in a research report on Wednesday, April 26th. Wells Fargo & Company upped their target price on shares of Tenet Healthcare from $59.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, February 17th. Cantor Fitzgerald started coverage on shares of Tenet Healthcare in a research report on Thursday, April 20th. They set an “overweight” rating and a $73.00 target price on the stock. Finally, Stephens increased their price objective on shares of Tenet Healthcare from $64.00 to $77.00 in a report on Wednesday, April 26th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $75.76.

Tenet Healthcare Trading Down 0.4 %

The stock has a 50 day moving average of $64.03 and a 200-day moving average of $55.10. The company has a market capitalization of $7.43 billion, a P/E ratio of 19.43, a P/E/G ratio of 4.80 and a beta of 2.18. The company has a current ratio of 1.39, a quick ratio of 1.29 and a debt-to-equity ratio of 5.79.

Tenet Healthcare (NYSE:THC – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.26. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.85 billion. Tenet Healthcare had a return on equity of 28.65% and a net margin of 2.13%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.93 EPS. On average, research analysts predict that Tenet Healthcare Co. will post 5.69 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Thomas W. Arnst sold 825 shares of the firm’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $61.00, for a total transaction of $50,325.00. Following the transaction, the executive vice president now owns 22,778 shares in the company, valued at $1,389,458. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Tammy Romo sold 7,000 shares of Tenet Healthcare stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $60.95, for a total transaction of $426,650.00. Following the completion of the transaction, the director now directly owns 57,598 shares in the company, valued at $3,510,598.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas W. Arnst sold 825 shares of Tenet Healthcare stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $61.00, for a total value of $50,325.00. Following the transaction, the executive vice president now owns 22,778 shares of the company’s stock, valued at $1,389,458. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Institutional Trading of Tenet Healthcare

Institutional investors and hedge funds have recently made changes to their positions in the business. Great West Life Assurance Co. Can acquired a new stake in shares of Tenet Healthcare in the third quarter worth approximately $3,585,000. First Trust Advisors LP boosted its stake in Tenet Healthcare by 343.6% during the third quarter. First Trust Advisors LP now owns 361,810 shares of the company’s stock worth $18,662,000 after buying an additional 280,250 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Tenet Healthcare by 147.2% in the 3rd quarter. Teacher Retirement System of Texas now owns 40,953 shares of the company’s stock valued at $2,112,000 after purchasing an additional 24,383 shares during the last quarter. ETF Managers Group LLC acquired a new position in shares of Tenet Healthcare in the 3rd quarter valued at $340,000. Finally, FORA Capital LLC purchased a new stake in shares of Tenet Healthcare in the 4th quarter valued at $295,000. 98.14% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Company Profile

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Tenet Healthcare Corp. engages in the provision of healthcare services. It operates through the following segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The Hospital Operations and Other segment is composed of acute care hospitals, ancillary outpatient facilities, urgent care centers, micro hospitals and physician practices.