Tenet Healthcare (NYSE:THC) PT Raised to $115.00 at Wells Fargo & Company

Tenet Healthcare (NYSE:THC) had its target price increased by Wells Fargo & Company from $105.00 to $115.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

THC has been the subject of several other research reports. Mizuho increased their price objective on Tenet Healthcare from $90.00 to $100.00 and gave the company a buy rating in a report on Friday, February 9th. Wolfe Research raised shares of Tenet Healthcare from a peer perform rating to an outperform rating and set a $122.00 price objective for the company in a research report on Wednesday. Barclays initiated coverage on shares of Tenet Healthcare in a research report on Wednesday, March 6th. They issued an overweight rating and a $113.00 target price for the company. StockNews.com raised Tenet Healthcare from a hold rating to a buy rating in a report on Saturday, December 16th. Finally, Royal Bank of Canada increased their price objective on Tenet Healthcare from $97.00 to $109.00 and gave the company an outperform rating in a report on Friday, February 9th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of Buy and a consensus target price of $97.56.

Tenet Healthcare Stock Performance

THC stock opened at $105.11 on Thursday. The business’s 50-day moving average price is $92.61 and its two-hundred day moving average price is $75.71. Tenet Healthcare has a 1-year low of $51.04 and a 1-year high of $107.80. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 4.77. The firm has a market cap of $10.51 billion, a PE ratio of 18.41, a P/E/G ratio of 3.29 and a beta of 2.07.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Thursday, February 8th. The company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $1.10. Tenet Healthcare had a return on equity of 26.34% and a net margin of 2.97%. The business had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the firm earned $1.96 EPS. Tenet Healthcare’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, research analysts forecast that Tenet Healthcare will post 6.09 earnings per share for the current year.

Insider Activity

In other Tenet Healthcare news, Director Richard W. Fisher sold 2,100 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total value of $185,241.00. Following the transaction, the director now owns 20,127 shares in the company, valued at $1,775,402.67. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Tenet Healthcare news, EVP Thomas W. Arnst sold 17,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $94.84, for a total value of $1,612,280.00. Following the transaction, the executive vice president now directly owns 8,148 shares of the company’s stock, valued at $772,756.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard W. Fisher sold 2,100 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the sale, the director now directly owns 20,127 shares of the company’s stock, valued at $1,775,402.67. The disclosure for this sale can be found here. Insiders sold a total of 51,268 shares of company stock worth $4,944,810 in the last three months. Company insiders own 1.30% of the company’s stock.

Institutional Trading of Tenet Healthcare

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in THC. US Bancorp DE raised its position in Tenet Healthcare by 14.6% in the 1st quarter. US Bancorp DE now owns 1,428 shares of the company’s stock valued at $123,000 after buying an additional 182 shares during the last quarter. HighTower Advisors LLC purchased a new position in Tenet Healthcare during the first quarter worth about $219,000. Natixis Advisors L.P. bought a new position in Tenet Healthcare during the first quarter worth about $1,651,000. APG Asset Management N.V. bought a new stake in shares of Tenet Healthcare in the first quarter valued at approximately $1,769,000. Finally, Great West Life Assurance Co. Can grew its stake in Tenet Healthcare by 13.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 63,273 shares of the company’s stock valued at $5,604,000 after buying an additional 7,365 shares in the last quarter. 95.44% of the stock is 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.