Tenet Healthcare (NYSE:THC) Price Target Raised to $150.00

Tenet Healthcare (NYSE:THC) had its price target lifted by UBS Group from $137.00 to $150.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently issued reports on THC. Royal Bank of Canada increased their price objective on shares of Tenet Healthcare from $97.00 to $109.00 and gave the stock an outperform rating in a research note on Friday, February 9th. Wells Fargo & Company raised their price target on Tenet Healthcare from $105.00 to $115.00 and gave the company an overweight rating in a report on Thursday, March 28th. Cantor Fitzgerald reiterated an overweight rating and set a $104.00 target price on shares of Tenet Healthcare in a research report on Wednesday, April 10th. TheStreet raised Tenet Healthcare from a c+ rating to a b- rating in a report on Tuesday, February 6th. Finally, Wolfe Research upgraded shares of Tenet Healthcare from a peer perform rating to an outperform rating and set a $122.00 price objective on the stock in a research report on Wednesday, March 27th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Buy and an average price target of $113.19.

Tenet Healthcare Trading Up 1.1 %

Shares of THC stock opened at $120.28 on Wednesday. Tenet Healthcare has a 1 year low of $51.04 and a 1 year high of $121.72. The firm has a fifty day moving average price of $99.82 and a 200-day moving average price of $81.94. The company has a market cap of $11.75 billion, a price-to-earnings ratio of 4.67, a PEG ratio of 2.63 and a beta of 2.09. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.44 and a quick ratio of 1.42.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $1.77. The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business posted $1.42 earnings per share. As a group, equities analysts predict that Tenet Healthcare will post 8.89 earnings per share for the current year.

Insider Buying and Selling at Tenet Healthcare

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP grew its stake in Tenet Healthcare by 54.0% in the 1st quarter. GSA Capital Partners LLP now owns 5,347 shares of the company’s stock worth $562,000 after acquiring an additional 1,874 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in Tenet Healthcare during the 1st quarter worth $78,000. BW Gestao de Investimentos Ltda. grew its position in shares of Tenet Healthcare by 37.0% during the 1st quarter. BW Gestao de Investimentos Ltda. now owns 452,771 shares of the company’s stock worth $47,591,000 after buying an additional 122,300 shares in the last quarter. Capstone Investment Advisors LLC purchased a new position in shares of Tenet Healthcare during the first quarter valued at $578,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Tenet Healthcare in the first quarter valued at about $537,000. 95.44% of the stock is currently 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.