Stephens Raises Tenet Healthcare (NYSE:THC) Price Target to $122.00

Tenet Healthcare (NYSE:THC) had its price target boosted by Stephens from $95.00 to $122.00 in a research note released on Wednesday, Benzinga reports. Stephens currently has an equal weight rating on the stock.

A number of other research analysts have also weighed in on THC. Deutsche Bank Aktiengesellschaft raised their price objective on Tenet Healthcare from $100.00 to $126.00 and gave the company a buy rating in a report on Friday, April 12th. Wolfe Research raised shares of Tenet Healthcare from a peer perform rating to an outperform rating and set a $122.00 target price on the stock in a research note on Wednesday, March 27th. Truist Financial upped their price target on Tenet Healthcare from $92.00 to $105.00 and gave the company a buy rating in a research report on Friday, February 9th. Mizuho upped their target price on Tenet Healthcare from $90.00 to $100.00 and gave the company a buy rating in a report on Friday, February 9th. Finally, Barclays started coverage on shares of Tenet Healthcare in a research report on Wednesday, March 6th. They set an overweight rating and a $113.00 price target on the stock. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of $113.19.

Tenet Healthcare Price Performance

NYSE:THC opened at $120.28 on Wednesday. The stock has a market capitalization of $11.75 billion, a PE ratio of 4.67, a price-to-earnings-growth ratio of 2.63 and a beta of 2.09. Tenet Healthcare has a 52 week low of $51.04 and a 52 week high of $121.72. The company has a quick ratio of 1.42, a current ratio of 1.44 and a debt-to-equity ratio of 2.58. The stock’s 50-day moving average price is $99.82 and its 200-day moving average price is $81.94.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share for the quarter, topping the consensus estimate of $1.45 by $1.77. The business had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.42 EPS. As a group, equities analysts expect that Tenet Healthcare will post 8.89 EPS for the current fiscal year.

Insider Activity at Tenet Healthcare

In related news, Director Richard W. Fisher sold 2,100 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total value of $185,241.00. Following the completion of the transaction, the director now owns 20,127 shares in the company, valued at $1,775,402.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Thomas W. Arnst sold 8,148 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $116.10, for a total transaction of $945,982.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard W. Fisher sold 2,100 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the transaction, the director now owns 20,127 shares of the company’s stock, valued at approximately $1,775,402.67. The disclosure for this sale can be found here. Insiders sold 59,416 shares of company stock worth $5,890,793 in the last three months. 0.93% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tenet Healthcare

Several hedge funds and other institutional investors have recently made changes to their positions in THC. Rise Advisors LLC purchased a new stake in Tenet Healthcare in the first quarter valued at $29,000. GAMMA Investing LLC purchased a new stake in shares of Tenet Healthcare in the 4th quarter valued at about $52,000. Sunbelt Securities Inc. acquired a new stake in shares of Tenet Healthcare in the 3rd quarter valued at about $67,000. FinTrust Capital Advisors LLC increased its position in Tenet Healthcare by 108.6% during the fourth quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock worth $68,000 after buying an additional 467 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new stake in Tenet Healthcare in the first quarter valued at approximately $78,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Company Profile

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.